There are many companies which offer powersports dealer insurance and what is most important for a dealer is to get the right policy for them. Sadly the world of insurance is often murky but there are some genuinely incredible insurance companies and policies which dealers can depend on. Within this sphere of powersports there are so many dealerships which operate on a very small scale and sadly, despite how obvious it may appear from the outside, a great deal of them don’t have the best insurance policies which are going to protect them.
If you have a dealership then here is why it is so crucial that you have an insurance policy which is built with you in mind.
The Ability To Scale
What we often see for small dealerships in particular is that the insurance policy which they have in place does not allow them the ability to scale up. Let’s say that you kick start your dealership with 6bikes and a couple of ATVs, and then throughout the second year you decide to invest some profits in doubling the number of vehicles that you have. Whist many insurers will allow you to increase the policy and the cost of it, they will often charge you a massive fee for doing so, which can put off many dealerships and force them to wait until the time comes to renew the policy.
Dealerships which only sell powersports vehicles are at bigger risk of break ins and theft and that comes down to the fact that they have smaller items which can be scooped up and whisked away, much easier than a car can. Not only this but thieves have it much easier when it comes to the sale of these items when compared to larger vehicles and that is why they have been known to aim for these smaller, powersports dealerships.
For dealerships in both the car and the powersports industry they face solid costs of insurance yet they come with enormous premiums and for many, especially the smaller ones, they are too big for even them to afford. The whole idea of insurance is that if something were to happen that you would get the costs of the theft or the damage covered, this just isn’t possible if the premium is so high that you cant actually afford it, which of course makes the idea of insurance a foolish one.
And finally we have to recognize the fact that on a monthly basis this is going to be a huge, but necessary business cost. This is why it is essential that if you have found a deal, that you are getting the right amount of bang for your buck. This is not about getting the cheapest insurance, it is about getting the right deal which is going to give you the necessary level of protection for your investment.
Make sure that you get the right deal for you and your dealership.