Start with these exposures
- Financing and servicing activities
- Repossession and recovery arrangements
- Customer records and dealer E&O
Coverage considerations
Start with your garage liability and inventory review, then explain how financing works. Identify the entities that originate contracts, service accounts, hold receivables and arrange repossessions. Related businesses are not automatically insured just because they share ownership.
Discuss dealer E&O, cyber, crime and employee exposures alongside vehicle coverage. Ask which errors, transactions and systems the proposed policies address. A policy cannot be assumed to cover every financing dispute or contractual obligation.
Repossession deserves a direct conversation. Tell us whether employees perform it or you hire another company, what vehicles are used and what the contracts require. Do not assume ordinary dealer driving coverage includes recovery work.
Use the FTC’s guidance to review customer-information obligations. Have your security practices and vendor relationships ready for underwriting questions. Good records and consistent procedures support the insurance program you are buying.
Compare the coverage and cost
Compare quotes for the same operations and coverage. Confirm the total policy cost, deductibles, payment terms and any exclusions affecting the way you do business.