fbpx
341 4th Ave, Indialantic, FL 32903
321-733-6253
info@DealerRiskServices.com

Category: Dealership Insurance 101

Insurance Solutions for Vehicle Inventory

The weather activity of 2017 and 2018 has taken a toll on the Inventory/Dealer Open Lot markets. The record Hail in the Midwest and the effects of Hurricanes Harvey and Irma sent wake up calls through the carrier and reinsurance markets Underwriters who became ‘’overly aggressive’’ with their pricing and deductibles felt the pains of …

How to Properly Manage Key Control and Lot Protection

  With every missing inventory vehicle, the first questions are (and should be) How, When and Who. We always begin with How.   The ‘’How’’ always revolves around the key issue…Where are the keys?  Insurance Claims Adjusters ask about the main set and then make sure the warranty books and/or files contain the second set.  This …

Exploring Dealership Insurance Options

Dealership insurance should provide the most comprehensive coverage at the lowest cost. We achieve this by controlling claims and utilizing options.  But, without the ability to predict the frequency and severity of claims and having procedures in place to control losses, choosing a loss sensitive plan is a lot like going from table to table …

Preparing for Your Dealership Insurance Renewal

I am often asked the question…’’How far in advance should I work on my Insurance renewal?  Thirty days prior to renewal, sixty days, ninety days out?”  My answer is always the same.  Begin working on it as soon as you bind the current year! Insurance is such a large expense that it needs (and deserves) …

What are Captives for Dealerships?

Dealers have been using off shore reinsurance companies to house their F & I business for years. So, why not use the same concept for the other insurance needs? While it’s true that Vehicle Service contract losses are limited in both time and value, and that Liability and Workers Compensation claims have a longer “tail;” …