Ins and Outs of Kentucky Dealership Insurance

When it comes to Kentucky Dealership Insurance there is one insurance agency that has the coverage you need at the most competitive rate and that is Barbee Jackson Insurance. Barbee Jackson Insurance is recognized as one of the country’s largest writers of Dealership Insurance. As an independent insurance agency we work with all the leading insurance companies to save our clients time and money. Call today to get started (850) 389-2001

Why Barbee Jackson Insurance

  • Dedicated Insurance Agents that only write Dealerships and Repair Shops
  • Licensed to do business in most states including Kentucky
  • Independent Agency means we do all the rate comparisons to save you time and money
  • Low Down Payment and Month payment options
  • Join Thousands of Dealerships across the United States that trust Barbee Jackson Insurance for their insurance needs

State of Kentucky Dealership Insurance Requirements 

The Commonwealth of Kentucky Motor Vehicle Commission requires Garage Liability Insurance at a minimum of $250,000 per person, $500,000 per occurrence and property damage at $250,000. 

Along with the Garage Liability requirements the State of Kentucky requires a surety bond in the amount of $25,000.

What is Garage Liability Insurance?

Garage Liability is a specialized insurance program designed for Dealerships and Repair Shops. What makes it specialized is both Dealerships and Repair Shops deal with autos. A normal General Liability insurance policy has exclusions against auto, whereas Garage Liability does not have all the exclusions from auto.

The Garage Liability policy can be broken down into three areas. 

  1. Auto - Auto works just like a personal auto insurance policy does by providing liability coverage to others in the event of an at-fault accident with one of the dealership vehicles.
  2. Other than Auto - Refers to slip and falls on the dealership or repair shop lot.
  3. Aggregate - The aggregate is the most the insurance company is willing to pay in a policy period.

Other Coverage Options

  • Dealer Open Lot (DOL) or Dealer Physical Damage - DOL provides coverage against loss such as theft or an accident to the dealership inventory. For example, your dealership has 10 cars on the lot and a tornado damages the inventory. DOL would step in to provide coverage to the loss inventory.
  • Garage Keepers - Garage Keepers is designed for repair shops or dealerships that have a service side to the business. It provides financial protection against losses when you are in the care, custody and control of a customer's vehicle.
  • Workers Compensation - If you have employees you need to protect your business from financial losses associated with an employee being injured on the job.
  • Commercial Property - If your dealership owns a building then commercial property insurance is available to protect against losses.
  • Business Person Property (BPP) - BPP is for items owned by the dealership such as computers and office furniture.
  • Cyber Liability - Theft of customer information by cyber criminals is increasing at an alarming rate. You can protect your business against financial losses associated with cyber theft by buying a Cyber Liability Policy.

What we need to get you a Quote?

  • Exact Dealership Name
  • Location Address 
  • Employees Names, Date of Birth and Driver License Number
  • Number of Dealer Tags that you are applying for 
  • Insurance Coverage requirements

How much does Dealership Insurance cost?

The age old question…What is the cost? The cost to get a quote is absolutely nothing. Our agents are standing by to take down your information and send it out to our carriers for price comparison. 

The cost of the insurance can range $1,500 for a small one person operation to thousands of dollars for larger dealerships. The amount you pay has nothing to do with the amount of vehicles you sell. It’s based on your employee count, location and coverage options.

Barbee Jackson Insurance

Our agents are standing by to answer all your questions and to get you the coverage you need at the best price. Call today to get started (850) 389-2001