Auto dealers are constantly striving to maintain compliance, dodge cyberattacks, deal with brokers with little to no industry experience, adapt to talent leaving their employ and struggling with often limited finance and insurance product selection.
When it comes to property and casualty coverage in the industry, too much time is spent worrying whether policy limits are sufficient for complex exposures, whether brokers can really identify important exposures and explain the reflexive overly complex coverages and dealers are often left wondering, “is my policy truly tailored to my own risks?”
Ensuring Car Sales Insurance Customized to Your Operation
While it may seem difficult just to find the way forward in today’s market, the right partner can help tune up your business and support you on the road to success. It’s time to trade up your dealership’s coverage and broker relationship to a package and partnership more aligned with your needs.
NFP’s auto industry experts are here to align with your needs and goals to guide your insurance buying process, avoid unnecessary non-compliance fines and help you save on total spend while maximizing your coverage.
Our intimate understanding of the physical damage insurance niche market enables a nuanced view that saves you time and prevents costly errors. Regularly, we see situations where dealerships are paying for coverage that either falls short or is more than they need. This can happen when you aren’t working with an industry expert who takes the time to understand your situation. Our dealer clients work with us to protect against the devastating impact of losing lot inventory to weather disasters and more.
Navigating Evolving Dealership Risks
Customers and industry norms change with time, and risk changes with them.
The retail environment shifted dramatically in response to the technological advancements of the past decade. Car buyers no longer fill out paperwork on-site; they enter their personal data, credit card numbers, and other sensitive information into a dealer’s or manufacturer’s website. This aggregated data makes dealerships increasingly susceptible to cyberattacks. Whether the consequences are financial or reputational, a data breach can be devastating to a dealership. Data protection practices are continually evolving, which is why you need an insider who understands how to negotiate the right cyber coverage.
Delivering Car Dealer Insurance Options
Many finance and insurance providers are limited to a single product line. Thanks to NFP’s independent agency relationship with all of its providers, we don’t have this limitation. Our varied suite of F&I products enables us to find the perfect products to fit your individual needs without any limitations on choices.
Bringing It All Together
The automotive industry has been significantly changing. You’re working in an environment that demands the utmost integrity for customers and clientele. As your all-in-one risk management team, we’ll work with you to ensure your workplace and people have the benefits they deserve. We’ll help you adapt, grow, and push ahead. We’re dedicated to bringing a personalized approach to your business, learning it inside and out so we can recommend comprehensive, forward-thinking coverage.
No matter how fast your business is moving, we’re here to partner with you and help secure your future. Let us show you how we can protect your business, help you retain talent and audit your total cost of risk.