insurance for used car sales lot

dwnsouth

dwnsouth

Analytical nerd
Platinum Member
what should I be looking for in terms of policies? Do major companies issue these kinds of policies? Like State Farm or Allstate? Any direction or initial thoughts are appreciated...
 
I've got a dealer license myself... There are insurance companies that deal specifically w/ car dealers. Usually, depending on your state you'll need at least liability insurance and a surety bond. That basic liability coverage doesn't cover any comprehensive stuff (like stolen, wreak cars, etc.), you'll need a full garage policy for that and that shit gets expensive, like $5-25k/yr depending on your location, value of inventory, security, etc.

PM me if you're in FL or GA and I'll recommend my agent.
 
diskdoctor said:
I've got a dealer license myself... There are insurance companies that deal specifically w/ car dealers. Usually, depending on your state you'll need at least liability insurance and a surety bond. That basic liability coverage doesn't cover any comprehensive stuff (like stolen, wreak cars, etc.), you'll need a full garage policy for that and that shit gets expensive, like $5-25k/yr depending on your location, value of inventory, security, etc.

PM me if you're in FL or GA and I'll recommend my agent.
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appreciate the information. I have all the paperwork for Louisiana already and I am going through the checklist of what I need to have.

My dad owns the location/garage that the lot will be located at. I wont latch on to his policy and would rather have my own...most likely basic liability. I also need the bond (20k) but have no clue as to where u get something like that or how much it costs.....
 
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