Mississippi Garage Liability Insurance

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

Types of Garage Operations We Cover

  • Franchised Automobile Dealerships
    Sales and Service
  • Used Car Dealers
    Sales and Service
  • Body Shops
  • Auto Repair Facilities
  • Semi-Truck Dealerships
    Sales and Service
  • Farm Equipment Dealers
    Sales and Service
  • Powersport/Recreational Vehicle Dealers
    Sales and Service
  • Detailers

Mississippi Dealership Insurance Requirements

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.

Insurance Coverage Options

  • Garage Liability
    Garage Liability covers two types of liability, “Garage Operations” and “Other Than Covered Autos”. Garage Operations covers auto exposure for bodily injury and property damage while Other Than Covered Autos provides liability insurance for the dealer lot or premises. The State of Mississippi requires all dealers to carrier a minimum of $75,000 in garage liability
  • Surety Bond (Also referred to as a Dealer Bond)
    Bond that is designed to protect customers and the state against a dealership committing fraud. Mississippi requires a bond of either $15,000 or $100,000, depending on the number of locations.
  • Blanket Dealers Open Lot (DOL) up to $10 Million Dollars
    Inventory coverage for both new and used inventory
  • Garage keepers
    Protects customer’s auto/boat/etc. when you are keeping it at a covered location
  • Commercial Auto/Business Auto
    Liability and/or physical damage for vehicles owned by the business
  • Business Interruption
    Protects your business from loss of income in the event your business is closed due to a covered loss
  • Workers Compensation
    Wage replacement and medical benefits to an employee injured on the job
  • Errors and Omissions
    Protects your business from claims caused by negligent acts, errors, or omissions
  • False Pretense Coverage
    Protects against losses due to voluntarily parting with a vehicle If induced to do so by any fraudulent act, scheme, trick, or purchasing the vehicle from a seller who did not have legal right to sell
  • Diminished Value Coverage
    Allows you to recover the diminished value of a vehicle after a covered loss

Special Coverage Option – Dealer Physical Damage

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.

Why Choose Barbee Jackson Insurance for Your Dealership and Garage Insurance?

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

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