Dealer Inventory Insurance Coverage
Lately, I’ve spent a lot of time talking to dealers about inventory. The topics range from ‘There are no cars available’ to ‘There are plenty of cars out there, but the cost is impacting my business plan’ to ‘Insuring my inventory at the same time I satisfy my insurance budget has become nearly impossible’.
The economy changes, business plans change, both vehicles and insurance costs fluctuate with conditions whether it is Cash for Clunkers at the beginning of an economic recession that we faced several years ago or an inability to get microchips from China or gas prices that create more homebodies. I can speak for only one piece of the puzzle: insuring your dealer-owned inventory.