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Dealers & Repair Shops   

 

       Dealer With A Lot
      Dealer Without A Lot
                Repair Shops
                 Bonds
 



  



Our "A" Rated Carriers: Auto Owners, Utica, Haulers, Progressive,  Hartford, Mercury & many more 
 

-Multiple Carriers  Compete
-Our Agents Know Your Business


Owner-Debbie Ward, AAI 

 

 

Used Car Dealers     Repair Shops    


Garage Liability - Coverage for your premises, operation, work performed and products.

Garagekeepers
– Coverage for damage to customer automobiles, mobile equipment, watercraft, or farm implements in your custody for storage, repair or safekeeping.

Inventory / Dealer's Blanket - Coverage for damage to inventory for automobiles, mobile equipment, watercraft, or farm implements that are held for sale, held pending delivery after sale, or used in the business of a car dealer.

Important Coverage to discuss: 


Car Dealer Coverage
Lot / Inventory Insurance
Mechanics Errors & Omissions
False Pretense Coverage
Business Income
Employee Dishonesty
Sign Coverage
Money & Securities
Personal Effects & Property of Others
Employee Tools
Drive Away 
Direct Primary
Legal Liability

Used Car Dealer Bond - if a title is not transferred properly and the state intervenes, the state will contact the surety company (aka insurance company) and file a claim against the bond. Then,  the surety company will seek collaterally damages from the principal, aka the person or persons who signed the bond application.  

Who is the Principal The individual who is bound on a bond furnished by a surety company.  For a Used Car Dealer Bond, the Principal is the person or persons who signed the application.

Who is the Obligee The party protected by the bond against loss.  An obligee may be a person, firm, corporation or a government agency.  The Used Car Dealer Bond is used by the State (aka oblige) to ensure that the Dealer will transfer the title correctly.

Collateral A form of security that is acceptable by the surety (aka Insurance Company) to qualify a principal (aka the person or persons signing the application) for a bond. Most surety companies require the principal to own real estate and to pledge the real estate as bond collateral.

Indemnity An agreement between the principal and the surety that guarantees the principal will protect the surety from all losses, costs and legal fees, and will reimburse the surety any monies paid out on their behalf.

Underwriting The act of analyzing and accepting or rejecting risk in a specified amount on behalf of the surety company.

Surety Premium The service fee paid by the principal to the surety company for the surety bond.