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Tag: dealership insurance

Where to Begin when Shopping for Garage Insurance

The very best place to begin with any marketing effort is to identify the potential insurers for a Dealership of your scope, size and location. The next part is to map out your specific coverage needs.   Both of these areas may require outside expertise and advice.   The garage insurance marketplace can include both national …

What Factors Make Dealership Insurance Premiums Fluctuate

As we have discussed previously, the main premium driver for individual risks is claims. Hands down, this is the major element underwriters use in calculating insurance costs.  However, there are other factors that cause the variances we see in premiums.   You have heard that the insurance market is cyclic. This is certainly true.  There …

The Relationship Between Claims and Premiums

As a young Account Executive with Universal Underwriters I got a taste of how garage premiums are truly developed.  I had worked the employee rating factors on an account and presented both the worksheet and the Loss History to my Division Underwriter for review.  “Let’s see,” he said.   Then he did something that surprised …

Protecting Your Dealership with Property Policies

For those of us operating businesses on the East coast or Gulf coast states, it’s officially Hurricane Season.  In fact, we’ve already had an early Tropical Storm and enough rain in areas to sufficiently soak the ground. So, before the succession of summer storms begins to roll our way, take time to review your Property …

Dealership Insurance Coverage You Need in the Current World

The insurance coverage you needed 20 years ago…even 5 years ago…may not be appropriate today to protect you from financial loss. There are truly some areas of concern that were not on our radar just a few years ago: Cyber Security                   Directors and Officers                    Kidnap and Ransom Active Shooter Coverage              Terrorism Coverage All of those …