Louisiana Dealership Insurance

Like any other business, Dealerships need insurance. Not only is it required in the State of Louisiana, but it is important to protect the business owner from loss. So if you need it and it’s required why don’t you work with the best insurance agency that specializes in Garage Liability Insurance!

Barbee Jackson Insurance is one of the largest independent insurance agencies in the US that specializes in Garage Liability Insurance for Dealerships. Join thousands of Dealerships like yours that made the switch to Barbee Jackson Insurance.

What Type of Dealerships do we Insurance?

• Used Car Dealers
  
• Franchised Auto Dealerships
  
• Motorcycle Dealers
  
• Recreational Vehicle Dealers
  
• Farm Equipment Dealerships
  
• Semi-Truck Dealerships
  

What is Garage Liability Insurance?

It is important to realize that Dealerships need a specialized policy that is unique to that line of business. A typical General Liability policy doesn’t cover for losses associated with vehicle loss. So if you’re out test driving a vehicle and you get in an accident a General Liability policy would not cover the loss, BUT a Garage Liability policy would.
Garage Liability policies are designed to meet the needs of Dealerships and Repair Shops. They cover for slip and falls on the lot and for losses associated with vehicles.

Louisiana Dealership Insurance Requirements

Louisiana requires any person or business that sells 5 or more vehicles in a 12 month period to file as a dealership and must carry insurance and a bond. In addition, the dealership must have an office, permanent sign visible from the nearest street and a telephone number listed on the business name.

• Must maintain a minimum limit of Garage Liability Insurance of $55,000
  
• Surety Bond in the amount of $50,000
  

How much is Garage Liability Insurance in Louisiana?

There are several factors that contribute to the cost such as number of employees, years in business and additional coverage options. The cost of the insurance can range as low as $1,200 per year for a single owner location and go as high as several thousands of dollars for larger dealerships.

How much is the Louisiana Auto Dealer Bond?

The purpose behind the Surety Bond, AKA Auto Dealer Bond, is to ensure that the buyer of the vehicle will receive compensation for damages if the auto dealer fails to comply with Louisiana Dealership Laws.

Louisiana Motor Vehicle Dealer Surety Bond is a two-year term bond that expires on December 31st every other year and costs can range from $425 for owners that have an excellent credit score to $4,000 for less than perfect credit scores.

Garage Liability Coverage Options

• Garage Liability *mandatory
  
• Surety Bond *mandatory
  
• Dealer Open Lot - Want to learn more? Check out our Blog - Dealer Open Lot
  

Dealer Open Lot provides protection against loss to the vehicle inventory in the event of a covered loss.

• Furnished Auto
  Many owners will want to be able to drive the dealership inventory for personal use. By adding a Furnished Auto Endorsement to the policy, the owners will be able to drive any vehicle on the lot for personal use. Is this insurance option right for you? Check out our Blog to learn more about the Furnished Auto Endorsement.
  
• Garage Keepers
  Some dealerships also have repair shops along with the sales side of the business. Garage Keepers Insurance protects the customer’s vehicles from physical loss while the dealership has it in their care, custody and control.
  

Why Thousands Choose Barbee Jackson Insurance!

Barbee Jackson Insurance is the clear leader in Garage Liability Insurance. We work with Dealerships of all sizes to find the right coverage at the best price. We independently shop your policy to 13+ insurance companies that provide auto dealers insurance. This process ensures that you are getting the lowest possible price.

Every dealership gets an Agent and Account Specialist that will handle all your needs. Turnaround time for new quotes is less than 24 hours. Call us today to get started (850) 389-2001