Iowa Dealer Insurance: Maximize Savings

Want to know why thousands of car dealerships across the United States choose Barbee Jackson Insurance for all their dealership needs? 

Is it Price…Yes
Low Down Payments…Yes
Low Monthly Payments…Yes
But Even More Important…Years and Years of Experience working with Dealerships!

Barbee Jackson Insurance is recognized as one of the country’s largest and most experienced independent insurance agencies that has a division dedicated to Garage Liability Insurance. What that means is you get expert advice at a great price. Start saving today by calling (850) 389-2001 or fill out the form to request a quote.

Iowa Dealership Insurance Requirements 

The Iowa Department of Transportation requires all dealerships to carry at minimum, Bodily Injury Liability in the amount of $100,000 per person, $300,000 per accident and property damage liability in the amount of $50,000. In addition to the liability insurance a surety bond in the amount of $75,000 is required.

To simplify the coverage the insurance company will combine the liability limits into one called a Combined SIngle Limit (CSL). In the State of Iowa the CSL would then be $350,000.

What is Garage Liability Insurance?

Most people have heard of General Liability, but not Garage Liability. Garage Insurance is specifically designed for Dealerships, Repair Shops and any other type of business involving vehicles. The normal General Liability policy has exclusions for vehicles and that’s where Garage Liability Insurance steps in to fill the void.

Garage liability Insurance can be split into three basic components…Auto, Other than Auto and the Aggregate.

Auto - Involves the moving of vehicles. For example, you are driving a vehicle that the dealership bought at auction back to the dealership. On the way back you got into an at-fault accident. The Auto side of the coverage would pay for the damages to the other party.

Other than Auto - Involves slip and falls on premises. For example, a customer is walking around your lot and falls over a crack in the asphalt. The Other than Auto coverage would pay for medical costs associated with the fall.

Aggregate - Is the most that the insurance company will pay in a policy period. So you can have multiple claims, but the combination of claims can not exceed that Aggregate which is usually double of the combined single limit.

What about the Lot Inventory?

Most auto dealers want to cover their auto inventory. Why? Because that is an investment of capital that needs protection. The coverage associated with inventory is referred to as Dealer Open Lot (DOL) or Dealer Physical Damage.

Dealer Open Lot should not be confused with Garage Keepers Insurance. DOL is for owned autos, such as dealership inventory. Garage Keepers Insurance is for non-owned autos, such as customer vehicles. 

Dealer Open Lot covers the vehicles on the lot for damages such as theft, weather and accidents.  

When choosing this coverage our agents will ask you for the total value of the inventory. The value is what you purchased each vehicle for not what you are retailing the vehicle for on the lot.

Other Insurance Coverage Options

  • Furnished Auto - Many dealership owners want to drive the inventory for personal use as well as business use and without Furnished Auto Endorsement on the policy you could be held liable for a claim.
  • Commercial Building Insurance 
  • Business Personal Property
  • Workers Compensation
  • Commercial Auto Insurance
  • Cyber Liability

What do we need to get you a Quote?

All quotes are free and no obligation to buy. When talking to one of our expert agents they will ask you a series of questions about your business. Having the information ready beforehand will save you time.

  • Dealership Name and Address
  • Owner and Employees names, date of birth, job title and driver license number.
  • Number of Dealer Tags
  • Requested Limit of Liability

The application process takes less than 10 minutes for most dealerships. After we collect all the information we send out the application to all our insurance companies for rate comparison. 24 hours later all the quotes will have been received by the agency and the agent will compare to find you the right coverage at the best rate.

Why Barbee Jackson Insurance?

Thousands of Dealerships across the United States choose Barbee Jackson Insurance for price and the knowing that they are getting the right coverage. Call Today to speak to one of our Insurance Agents (850) 389-2001

225+ ⭐⭐⭐⭐⭐ Google Reviews and Growing

Jy Childers

Absolutely amazing customer service and work by everyone at this location! Dana assisted me with my insurance, she made it quick and effortless to obtain insurance. I highly recommend Barbee Jackson Insurance. I will certainly use them again in the future.

Randall Hill

the Barbee team were a pleasure to work with. After days of phone calls and online submissions I finally found Barbee Jackson Insurance and within 24 hours had a GREAT quote, and an insurance policy for my business! I HIGHLY recommend doing business with Dana, and Barbee Jackson Insurance.

Jeremy Gardner

Courtney was AWESOME! This was definitely the easiest and quickest company to ever get my insurance for my car business set up. Very friendly and Courtney got me everything i needed ASAP. Barbee Jackson has my business going forward..