A motorcycle dealership faces unique risks that do not apply to other businesses. Dealers who also handle repairs face additional liability risks. Motorcycle dealer insurance was created to cover these risks that standard business insurance does not include. Here are a few of the coverages unique to dealerships.
Motorcycle dealers typically have a lot of money tied up in inventory. A fire or natural disaster could damage most if not all of it. Even a collision can result in costly damage. The proper motorcycle dealer insurance will cover any losses.
Garage Keeper’s Coverage
Dealers who service and repair customers’ bikes are responsible for any damage to bikes in their care. Garage keeper’s insurance is an extra layer of coverage specifically for this purpose.
Dealers who take inventory to shows may require special coverage for damage that can occur while vehicles are off-site. This may also include transportation to and from shows.
Motorcycle dealer insurance is required in most states to operate a motorcycle dealership. It also can mean the difference between a dealership closing its doors or surviving a lawsuit. An insurance agency specializing in motorcycle dealership insurance can ensure owners have suitable types and amounts of coverages.