Auto Dealers Insurance and Bonds

auto dealer insurance

Whether you are a new venture or an existing Dealer we provide all types of Insurance services to all dealers located in the state of Florida. We provide quick quotes and courteous attention which you deserve. All you need to do is contact us and we will do all the work for you. As an Insurance Agency, we will compare different coverages in the market area and we will not only find the most affordable coverage but the best coverage that suits your dealer needs.

Dealer programs include but not limited to:

  • New Business
  • Dealer Tags
  • Garage Liability
  • Low credit
  • Finance

Frequently Asked Questions

Who needs a Dealer License?
In this state, anyone involved in the business of buying, selling, dealing in motor vehicles and/or offering them for sale at wholesale or retail. In basic terms, if you buy and sell vehicles as your primary business, you more than likely need a license. To be more specific, the State of Florida considers you a dealer if you sell more than 3 vehicles within a 12-month period.
What type of License do I need?
Once you have determined if you are in the business, the next step is to ask: “what type of license do I need?” The Division of Motorist Services issues specific licenses based on the types of vehicles and/or type of transaction being conducted. As a dealer, it is important to understand which license(s) may apply to you, as the requirements may change. Most common are as follows VI-Used Car Dealer, VW-Wholesale, and VF– Franchise.
What type of Insurance do I need and what’s the cost?
According to section 320.27(3) of the Florida Statutes, “all applicants must submit verifiable proof that dealers must be insured under a garage liability insurance policy or a general liability insurance policy. The document must show the purchase of single-limit liability coverage at a minimum cost of $25,000, and a personal injury protection at a minimum cost of $10,000. The policy shall be for the license period, and proof of the continued policy shall be delivered to the department at the beginning of each license period.” Simple Answer is YES and we will help you the cost ranges because it depends on a lot of factors from $900 for a year up to $8000.00 and up (Yes this can be financed).
What is a Bond and what is the cost?
A surety bond is a guarantee from a Surety to a government and it is basically that a company will comply with state law, municipal ordinance, or regulation. It’s mandatory for an individual that is applying for motor vehicle dealer license to have a surety bond, the amount must match or be greater than the amount that is required for the type of license. The cost for a Bond also varies on a lot of factors especially your credit score from $150.00 up to $5000.00 a year. (Financing is also available depending on a case to case).

We have partnered with Florida Dealer School, so we know what we are doing.