May 2024

The last Texas legislative session voted into law several changes that affect our dealers’ daily business:

The two policy forms most used in Texas are the Auto Dealers Coverage Form and Garage Coverage Form. The data included here is based on the Auto Dealers Coverage Form and is not intended to provide all the nuances and/or explanations of every coverage and/or exclusion.

For the purposes of this narrative, we will hit only on the ‘high spots’ and those I believe to be of most interest to the typical Independent Auto Dealer.

So many of our dealer customers also have rental income properties, and that trend is on the increase across the industry. One negative result is dealer-owners getting hit for claims for which they are not or should not be responsible.

The law does not require your tenants to purchase their own insurance. Nonetheless, given its benefits to both landlords and tenants, you, as landlord have the right to require that purchase prior to leasing a property.

The ‘WHY’ is important:
For the purposes of this narrative, we will hit only on the ‘high spots’ and those I believe to be of most interest to the typical Independent Auto Dealer.