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Newsletter 2019

Garage Keeper's - I don't have a repair shop

The term "garage keepers" almost sounds like repair shop insurance.  It's not.  GKLL or "Garage Keepers Legal Liability" coverage is an option that covers a risk that almost all used car dealers are exposed to.  GKLL covers vehicles in your care, custody and control that you don't own.  It covers cars that you are driving to establish trade in value and vehicles that you are driving to determine if a customer's complaint about a sold vehicle is valid.  Last it covers vehicles on consignment to you.  Almost all car dealers drive cars before they buy them.  Almost all dealers have customer complaints about vehicles from time to time.  Some dealers take cars on consignment.  This is a important, inexpensive, coverage that almost all dealers need.


I hope he had the right coverage and a sharp agent

Insurance Review

Have you hired new employees since you wrote your policy? Do you have more inventory (or less inventory) then you did when you wrote your policy? Do you have limits that are unnecessarily high? Are you doing everything reasonable to keep your premium low while maintaining the proper coverage to avoid problems? A quick insurance review can make sure that you are saving every penny possible. Call us any time for an insurance review. We can usually do it on the spot.

Other than passenger car coverage

Do you sell vehicles other than passenger cars and light duty trucks?  Do you occasionally take them in trade?  RVs, streetbikes, trailers, medium duty and big trucks...  Can these be included in your dealer insurance policy?  Not all insurance companies will cover them.  We have a carrier that covers all of these.  You can put all of them on your dealer policy with Motor Dealer Services.

Comprehensive vs. Specified Perils

For dealers that want the most complete policy possible, with the least exposure possible, Comprehensive is the only way to go. I have seen quotes that list "comprehensive" on the proposal and then give a list of covered perils. Comprehensive is an "all risk" / "open perils" policy. It covers everything that is not on the exclusions list. Specified perils policies cover only the perils specified in the list. Typically the perils specified are: theft, wind, hail, aircraft, riot, vandalism, explosion and smoke. Here are some examples of things not covered by a specified perils policy. Tree limb falling on a vehicle, building collapse, sink hole, flood, etc. If you are looking for the most complete policy possible don't be mislead.

Is there information here that your agent didn't tell you?      Did it cost you money?      We hope not.


Written by: Dave Hoffman
License #

CA: 0D87197
ID: 619149
AZ: 906944
NV: 1100441