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Commercial Property & Liability coverage–our Unicover® policy
Auto inventory physical damage
Your inventory is the lifeblood of your dealership. Zurich provides the coverage and claims service to make sure that if a loss occurs, you don't miss a beat. Here are just a few features of the Unicover policy:
Customers’ Automobiles
Three different coverage options are available to cover your customers' vehicles when they are in your care. Don't let an unfortunate situation cost you money and a customer.
Extended Theft
Protection is available for "Trick and Device" schemes for inventory and stock. Coverage is provided for "incoming" and "outgoing" losses. "Outgoing" is when you part with a vehicle; "incoming" is when you acquire possession without a valid title because of false pretense.
Wrap-around
This coverage picks up where floor plan coverage typically ends. Many floor plan policies can be restrictive and may not cover all the perils you encounter. Zurich's wrap-around option eliminates such gaps in coverage.
Property is more than just your buildings. Zurich offers a complete package to cover your buildings and much more. The following are some highlights:
Value Protection
This coverage guarantees replacement cost on your buildings and provides coverage for the increased costs of construction and demolition, plus contingent liability for undamaged portions of a building.
"Breakdown"
This coverage guarantees replacement cost on computers, equipment and machinery, including pressure vessels.
Business Income Continuation
This protection keeps money coming in even if a covered loss forces you to temporarily close your doors. Coverage is also available for situations that force you to shut down your dealership, such as power or communication outages or water shut down.
Employee Tools
A technician without tools is out of business, and so are you. Zurich's Unicover package automatically picks up coverage to replace stolen tools.
Loss of Rents
Does your lease require you to keep paying rent even if you can't occupy your building because of a loss? We offer Loss of Rents coverage to make those lease payments and keep your business operating smoothly.
If you don't have the right coverage, one liability occurrence could put your dealership out of business. Make sure your garage liability coverage is structured specifically for you and the risks you face as an auto dealer.
Products and Completed Operations
This protection is for damages caused by products you installed or work you performed. Additionally, Mechanics Errors and Omissions coverage is provided to pay for the actual work or product. Both coverages are a must.
Employment Practices Liability - Discrimination
This is one of the biggest liability exposures that business owners face today. Hiring, management and overall business practices could subject a dealership to a lawsuit resulting in catastrophic losses. Zurich understands this and automatically includes this coverage in your Unicover package. Make sure you're protected.
Statute & Title Errors and Omissions
This coverage is offered to reimburse you for your covered losses arising out of alleged violations of odometer, truth-in-lending, truth-in-leasing, disclosure, or Used Car Buyers Guide regulations. This coverage also protects you for covered defense costs associated with such allegations.
Punitive Damages
Punitive damage awards can be enormous. Zurich will pay for punitive damages up to your policy limits, where allowable by law. Not all companies do the same. Make sure this is included in your garage liability policy.
Given the "lawsuit happy" world we live in, a properly structured Umbrella liability policy is critical to balancing out your dealership insurance package. Consider the following when purchasing Umbrella protection:
Adequate Policy Limits
Make sure your Umbrella limits are sufficient to protect you and cover you for defense costs in case an unfortunate situation arises. Zurich's Umbrella provides coverage for defense costs over and above the policy limit, giving you the full protection you need.
No Aggregate Limitations
An aggregate limit is the maximum amount an insurance company will pay in any one policy period. Aggregate limits can be dangerous to your business if you suffer a string of bad luck. Zurich doesn’t have aggregate limits on our Umbrella liability policy.
Employment-Related Practices - Discrimination
Lawsuits resulting from discrimination, sexual harassment or wrongful termination can put a dealership out of business. We realize this and include coverage for these and other risks up to the Umbrella policy limit, where many insurance companies don't include such coverage.
Employee Dishonesty
No matter how much precaution you take, employee dishonesty can still occur. A few examples include embezzlement, stealing parts or keeping a deposit on a new vehicle. Make sure your employee dishonesty coverage provides you with adequate coverage limits.
Money and Securities
This provides coverage for losses that occur both inside and outside your dealership. Whether it’s a robbery occurring on the way to the bank or money stolen right out of your store — Money and Securities will provide coverage.
Other specified coverages for customization
Zurich will further customize your policy by providing the coverage that meets your insurance needs. The following are some examples:
Agents’ Errors and Omissions
This coverage protects you from costly errors and omissions losses resulting from the sale of Credit Life, Accident & Health and Physical Damage insurance. Finance and insurance income is too important to be wiped out by an errors and omissions loss-occurrence.
Basic Auto
If you have a Daily Rental Operation, this is the coverage for you. Basic Auto also provides for vehicles needing stated amount or coverage for antique autos.
Uninsured and Underinsured Motorist
Don't let another person's irresponsibility and neglect for insurance cause you serious financial hardship. This coverage protects you if you should suffer a loss as a result of the negligence of an uninsured or underinsured driver.
Personal Umbrella Liability
Just as your business has exposure to legal liability, you too can have such exposures. A personal umbrella liability policy is one coverage you don't want to be without.
Pollution Liability
EPA regulations and court decisions have made the handling, transportation and disposal of pollutants a cradle-to-grave exposure. You are responsible for pollutants you generate even after they leave your premises. These laws create enormous exposures for your dealership.
For covered losses, Zurich's Pollution Liability policy provides up to $1 million in coverage for all types of pollutants. Defense costs are paid separately from this limit of liability. Other available coverages make this one of the broadest packages available.
Workers Compensation
As a responsible business owner, you want to provide your employees with a comprehensive workers compensation program. Zurich can help meet your needs in this critical coverage area.
Keep your entire package with one company and eliminate the confusing process of keeping up to date on various companies and policies.
Loss-sensitive programs for large accounts
If you have more than 20 dealership locations, and you have the desire and ability to control losses, you may be a good candidate for a Loss Sensitive program. Our program includes:
- Retention aggregate program
- Retrospective rating program
- Large deductible program
More information about our loss-sensitive programs.
Note: Products may not be available in all states
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