3108 Adora Teal Way, Unit 200,
Barbee Jackson Insurance is one of the largest writers of Garage Liability Insurance on the Gulf Coast servicing dealerships and repair shops in Alabama, Florida, Georgia, Louisiana, Mississippi and Texas. Our Garage Specialists work with thousands of business owners like you to secure the right insurance coverage at the best price. Call today to get started (850) 389-2001
All used automobile dealerships are required to carry a Surety Bond in the amount of $15,000 listing the Department of Revenue as the obligee and the dealership as the principle. In addition, Mississippi requires car dealers to carry at minimum $75,000 in Garage Liability. Higher Garage Liability limits are recommended.
A basic Garage Liability Policy covers damage to other peoples property or bodily injury that you are held legally liable. This coverage is like commercial general liability, but coverage extents to both the auto and the dealer lot. An additional coverage maybe added to the policy commonly referred to as Dealer Open Lot (DOL) or Dealer Physical Damage. DOL provides physical damage coverage to the dealership inventory in the event the car becomes damage from an accident, theft or weather related. The coverage is split, much like a personal auto policy, into collision and comprehensive.Please note…Mississippi is a coastal state and coverage for weather related claims maybe excluded due to our high exposure to wind.
Dealer Open Lot comes in two different forms, Reporting and Non-Reporting. Reporting form requires the dealership to submit monthly inventory reports to the carrier every month in order for the insurance company to have accurate inventory numbers. More common is Non-Reporting Form which is based on the maximum anticipated inventory value.
Not only can we provide the coverage you need at an affordable price, but we also work with experts in risk management that can help you identify potential hazards and find ways to reduce or eliminate those risks to your business. Barbee Jackson Insurance works as your partner helping you navigate the complex world of insurance and risk management. Don’t settle for an agent that doesn’t know your business…work with the industry’s best insurance experts. Call us today for your 100% FREE insurance (850) 389-2001