Idaho Dealership Insurance: Protecting Your Business

As an Idaho dealership owner, you understand the importance of providing high-quality vehicles and services to your customers. However, in the face of unexpected events, it's essential to protect your business with the right insurance coverage. That's why it's crucial to understand the different types of dealership insurance available in Idaho and how they can benefit your dealership.

Garage Liability Insurance

Garage Liability insurance is one of the most crucial types of insurance for dealership owners in Idaho. This coverage protects your business from financial losses due to claims of property damage or bodily injury caused by your employees or business operations. Garage Liability insurance can help cover the cost of legal fees, settlement amounts, and other expenses related to a lawsuit.

In Idaho, dealership owners must carry at least $25,000 in liability insurance coverage. The coverage works like this…

Auto $25,000 - follows liability to others for dealership vehicle related accidents 

Other than Auto $25,000 - is for slip and falls that happen on the lot

Aggregate $50,000 - is the most the insurance company will pay out in a policy term

Keep in mind that liability insurance only covers claims made against your business. It doesn't cover losses or damage to your dealership's property or vehicles.

What is the difference between Garage Liability and General Liability?

Dealer Open Lot aka Dealer Physical Damage

As stated before, Garage Liability provides liability coverage for others and not the dealership inventory. By adding Dealer Open Lot you can cover the dealership inventory. It works just like personal auto insurance except on a larger scale.

We take the total value of the vehicles on the lot, apply a max to any one auto, then a deductible. 

Find out more by clicking our Blog - What is Dealer Open Lot?

Garage Keepers Insurance

Garage keepers insurance is a type of coverage designed specifically for dealerships that have a service department. Unlike Dealer Open lot which insures owned vehicles. Garage Keepers protects non-owned vehicles in your care, custody, or control. This can include vehicles that are stored waiting on being serviced, being serviced in your garage, or being driven by employees. Garage keepers insurance can help cover the cost of repairs or replacement of damaged customer vehicles.

What to know more? - Garage Keepers Insurance

Dealership Bonds

In Idaho, dealership owners must obtain a surety bond to operate their dealership legally. A surety bond is a type of financial guarantee that protects customers from fraud or misappropriation of funds by dealership employees. This bond can help cover the cost of any claims made against your dealership, such as theft of customer funds or falsification of records.

The amount of the surety bond required for dealerships in Idaho varies based on the type of dealership. 

  • $40,000 - wholesale dealers
  • $20,000 - retail dealers
  • $10,000 retail dealers in ATVs, motorcycles or snowmobile

Other Coverage Options

Commercial Property
Workers Compensation
Furnished Auto Endorsement

Are you just Starting a Dealership?

If you are just getting started and want to find out all the requirements follow this link to - Dealer Handbook

Why Barbee Jackson Insurance is your best choice for Dealership Insurance

When it comes to choosing the right insurance provider for your Idaho dealership, you want to work with a company that understands your specific needs and can offer tailored coverage options. That's why Barbee Jackson Insurance is the best choice for dealership insurance in Idaho.

At Barbee Jackson Insurance, our agents have extensive experience working with dealership owners and understand the unique challenges you face. Call Today to get Started (850) 389-2001

Let's Get Started!

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