Types of Insurance


Insurance Help


Log In

Used Car Dealer Insurance

Prefer to speak with a CoverWallet consultant? Call
(646) 844-9933

Frequently Asked Questions

Why do Used Car Dealers need insurance?

Used car dealers need insurance so you won't lose all your profits when your vehicle is lost, vandalized, or stolen. It also protects your business from the lawsuits when your customer complains that the car you sold is not up to par with their requirements - regardless if the allegation is true or false. The insurance will pay for the damaged car and the defense and court fees, thus protecting your business and even your personal assets.

What risks do Used Car Dealers face?

Below are some common risks used car dealers can face:

One of your customers complains that the car you sold them is faulty. They claim that it has cost them a lot of money for the repairs in just under three months. Your customer sues your used car dealership for the damages.

A part-time employee has stolen some of your car accessories amounting to $10,000. Your employee has been caught, but the stolen amount hasn't been recovered.

How much does Used Car Dealer Insurance cost?

There is no fixed cost for insurance for used car dealers, as insurance carriers assess this depending on the amount of coverage you need, the number of employees required, and the size of your business. If you want to find out the cost of your insurance fast, simply apply online and we'll send your free insurance quote in an instant.

Are You Ready to Get Covered?

Prefer to speak with a CoverWallet consultant? Call

(646) 844-9933