Insurance for Vehicle Wholesalers

Companies that work within the vehicle wholesale industry sell and distribute vehicles such as cars, ATVs, school buses, snowmobiles, and taxis. Businesses may also sell and distribute new and used car parts, motor vehicle tools, equipment and accessories, tires, and tubes.

Vehicle wholesalers need insurance as it helps protect your vehicle wholesaler business from the risks that it could encounter. These risks are so expensive that without insurance your business could be forced to close.

Below are the common risks vehicle wholesalers can face:

One of the vehicles being delivered has been involved in an accident. Most of the vehicles have been either damaged or destroyed.

Your warehouse has caught fire, causing most of your products and equipment to burn to ashes. The costs to get back in business after fire damage could be so high that most businesses end up being bankrupt without insurance.

The cost of insurance for vehicle wholesalers varies because the cost mostly relies on the size of your business, the number of employees you have, and the coverage required. Without taking these into account, below is the average cost of insurance for your business:

• General Liability insurance costs $500 in annual premiums.
• Commercial Property insurance costs $600 in annual premiums.
• Inland Marine insurance costs $700 in annual premiums.