Do I need to buy auto insurance for my used car dealership?
Thursday, October 29th, 2009 at
3:55 am
Erin in California asked:
We are just starting out and wonder if our personal car insurance would cover test drives, or our driving the vehicles. It is a sole proprietorship.
We do have a bond insurance and just acquired two vehicles (our first since we are new) and have not been driving them yet because we are looking into insurance.
We are just starting out and wonder if our personal car insurance would cover test drives, or our driving the vehicles. It is a sole proprietorship.
We do have a bond insurance and just acquired two vehicles (our first since we are new) and have not been driving them yet because we are looking into insurance.
Filed under: Auto Insurance
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That’s probably something best asked to your insurance company and get it in writing. If you need some quotes, this site is great.
Typically, insurance companies will not cover any damages or anything related as you are now running a business. There is a difference between personal auto insurance and business insurance.
I would suggest you ask your insurance company.
You should inquire about a business owner’s policy.
No, personal car insurance specifically doesn’t cover that. It’s EXCLUDED under every personal auto policy.
Sounds to me like you’re operating illegally – used car dealerships need to also be licensed and bonded, in every state I’ve ever worked. And you need that insurance to get the license.
Yes as per Motor Vehicle Act – No vehicle can ply on public places without a valid third party insurance. It mandatory and to protect other parties. Comprehensive insurance is optional, but Third party is mandatory.
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