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Tag: Insurance

State of the Dealership Insurance Market

The State of the Dealership Insurance Market

Featured Article in the NADC Defender October 2020 Newsletter If the year 2020 has taught us anything, it is that when times change, so must we–and times are certainly changing. The cost of dealership insurance is moving upward, and quickly. Without following the industry news, it may be hard to understand why. The following will …

The State of the Dealership Insurance Industry 2020

Remember the lyrics of the old Bob Dylan song… “for the times, they are a changin’”… That is certainly true today as it has been a most unusual year for all of us! Everything in our world seems to have changed… including the insurance industry. All of which affect our bank accounts and profit margins. Our …

Know Your Vendors

Over the past 2 months we have reported several claims regarding insufficient insurance coverage carried by Vendors/Subcontractors.  In two instances, the claims involved companies contracted to transport vehicles for the Dealerships.  Car Haulers???  Yes! Dealers are normally in tune with the dangers of underinsured contractors regarding building and/or grounds maintenance.  They even scrutinize Certificates of …

How to do Finance and Insurance (F&I) Right in a Dealership

Auto Dealers are a unique breed of entrepreneur. They are successful, creative, generous, and a vital part of their communities. To the general public, Dealers sell and service vehicles.  To the Dealer community, the sale and service of vehicles is only a part of the operation.  For successful Dealers, a substantial portion of their income …

Developing Zero Tolerance Policies for Your Dealership

There are some things that we just cannot tolerate in the workplace.  They just mean trouble!   Sexual Harassment, Misuse of Computers, Visiting Inappropriate Websites, Distracted Driving, Unauthorized Weapons into the Workplace, the list goes on.   When injuries, whether physical or mental, result from these issues, we run the risk of adverse jury awards,  …