Automobile Dealer

We at Sprezzatura Insurance Group believe that according to the traditional insurance lines, the level of exposure and severity are as follow under Automobile Dealers.

Level of Risk Per-Line of Business: Low, Medium & High.

• Automobile Liability: High-
• Automobile Physical Damage: High-
• General Liability: Premises and Operations: Medium
• Product Liability and Completed Operations: Medium- Claims under this exposure are likely to include faulty repair work performed by the insured’s employee.
• Garage Keeper’s Legal Liability: High- This coverage performs repairs or services on non-owned vehicles.
• Environmental Impairment Liability: Medium
• Workers’ Compensation: Medium
• Crime: Medium
• Fire and E.C.: Property
• Business Interruption: Medium- Depending on the size of a dealer’s inventory, a sizeable lot upon which to relocate may be required.
• Inland Marine: Medium

Based on ISO, AM Best, and others; recommended class codes for Automobile Dealers are:

Standard Industrial Classification Manual (SIC) Codes and Classifications

• 5511- Motor Vehicle Dealers ( News and Used)
• 5521- Motor Vehicle Dealers ( Used Only)
• 5531- Auto and Home Supply Stores
• 5599- Automotive Dealers, Not Elsewhere Classified
• 7515- Passenger Car Leasing