New England Area Used Car Sales Insurance

Owners of used car businesses have specialized insurance needs. At Gallant Insurance and L.F. Robbins Insurance, we help customers identify those needs and develop coverage solutions that protect them. With three convenient offices in Townsend, Pepperell and Acton, we make it easy for used car business owners to obtain cost-effective insurance protection.

Why You Need Insurance for Your Used Car Business

If you are in the business of selling used cars, you know that the laws of Massachusetts require you to carry certain types of insurance. You know that you need to have a surety bond in the amount of $25,000 that acts like insurance in order to obtain a dealer license. You know that you need worker’s compensation insurance for your employees. You know that property and general liability is critical to protect yourself financially from the costs of fire and lawsuits.

Our company provides all of these coverages. But what other kinds of insurance coverage do you need to run a used car business in Massachusetts? We recommend that you have the right amount of coverage to:

  • Protect your inventory: You will need coverage for your inventory. Even if you only have a few cars on the lot, you have invested a significant amount to acquire those vehicles and need to protect that investment. If the cars are outside, you will also want to consider hail insurance as well as other types of protection for your used car inventory.
  • Protect yourself from accidents caused by test drivers: You need to be sure that your liability coverage includes the liability you assume every time you put dealer plates on a vehicle. You do not want to your business to suffer from significant losses due to a fender-bender during a test drive.
  • Protect your auto repair business: If you have an auto repair shop associated with your used car business, you will need separate coverages for that aspect of your business.

Gallant Insurance will evaluate insurance needs such as these and recommend the coverage that best protects your business at the lowest possible cost.

Guiding You Through the Insurance Process

In addition to identifying the right coverage for your used car company, we will make sure that you are prepared for the underwriting process. Insurance companies will want to know answers to questions about the security and safety of your business. Those questions may include:

  • Is the lot well lit?
  • Is there a fence and a locked gate?
  • Do you have a security guard or an alarm system?
  • Does the property have hazards that could result in a slip and fall or other accident?

Our insurance professionals will guide you through the process to help you gain the optimum coverage you need.

Call Us for All Your Insurance Needs

If you own a used car sales business, you may have been contacted by a company that says it specializes in insurance coverage for used car businesses. In reality, they may be trying to sell you a surety bond that is required of all Massachusetts used car companies.

To best protect yourself and your business, you need full insurance coverage. Contact Gallant Insurance for a free risk analysis and price quote. It’s easier than you think.