Ensure Your Way To Success When Protecting Venture Capital Funding Sources

By Kathleen Bailey


Owning a vehicle dealership is hard work, however, if done correctly it can be a very lucrative business. Whether new or used vehicles are your forte, having sufficient car dealership insurance is vital and could prevent financial strain should an unlikely event take place. Also, it s one way of assuring the venture capital funding contributors of the legitimacy of your business acumen.

Car dealerships should incorporate various car dealership insurance policies into their operations, leaving nothing to chance. Garage liability, dealers open lot, garage keepers liability, auto liability, false pretence, bonds and errors and omissions policies should all be considered with equal seriousness.

Through ownership of the garage, you may at some point be held liable for an incident that has occurred on the premises. Garage liability insurance will protect you in this instance. Should a client s vehicle become damaged or be stolen from your premises, the insurance will pay for the repairs or replacement of the vehicle should it be necessary. Injuries to clients are also a very real possibility within your working facility. Cover yourself adequately to ensure that medical costs through incidents like these do not leave your business crippled.

Any car dealership has a number of company vehicles in their possession and probably a handful or more of people who drive them on a daily basis. Unfortunately, as is the nature of driving, accidents are unpredictable and unavoidable. Should one of your vehicles be involved in an accident your auto liability insurance will protect you from any legal action which may be taken against you due to the accident.

False pretence insurance is by no means a bad credit insurance. This refers purely to situations where you have been cheated by someone posing as a potential buyer. For instance, if a client approaches you to test drive a vehicle and you give your permission and the vehicle is stolen by that individual, you will be covered for the loss.

Before opening any business, car dealerships included, be sure to do everything in accordance with the law of the state in which you intend to operate. Bonds provide you with proper guidelines to operate your business legally according to the rules and regulations set out by the state.

While it might be quite tempting, as a dealer, to forgo all the auto dealership insurance that is available, it would not be a wise decision. The stock on hand as well as your dealership vehicles and client vehicles in your facility on a daily basis is valued at huge amounts of money, the replacement value would financially end you. Take all the necessary precautions to keep your business free from that devastation.

When owning a business, dealership or any other, your customers are paramount to success. Reputation is key. Every dealing with your company should be one that is remembered for all the right reasons. Yes, accidents happen, however, dealing with them in the right way will still make a negative situation a positive in some way. Keep your clients happy and your business will flourish. What you can do is protect yourself and your clients. Should a negative incident befall you, treat it in a positive way. Your reputation will remain intact and business will grow.




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