Insurance if your a 2nd hand car dealer. Do you have to have insurance? Is it optional. Does anybody know?

Thanks.

Hi Simon

I do not know for sure but i would think you would want to look at a minimum of getting product liability insurance. This should cover you in the case that you sell a car and then it is found to have something wrong and the buyer comes looking for the money to fix it from you.

Your best bet is to speak to an issurance broker.

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Joel Brown - Orion Networks
Techie-Central - Forums | SEOPTIMISA
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You sure do.

What if someone is test driving one of your cars and totals a school bus full of kids?

What if someone steals one of your cars?

What if your building burns down?

Actually, the thing you don't really need is product liability as far as the car having a mechanical problem. You can sell the new owner a policy for that. Of course, you would want to be covered if they went one block from your place and a wheel fell off and they went through the front door of a c-store.

And you need to be covered incase someone ribs you, falls down on the pavement and breaks a leg, throws a brick through a plate glass window and all the other things any business needs insurance to cover.

For that business, I would think that after payroll and inventory, insurance would be your biggest expense, even more than your rent. I couldn't even imagine running a business with anything at all to do with cars without being insured. Get a good insurance agent to help youwith the coverage.

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Peter T Davis
Frixer, Inc.
Helping people make profitible businesses on the web.

Since you cannot predict the future, it is important to protect yourself and your possessions against damage and harm. Insurance is all about protection and security - it protects you against an unfortunate incident such as car accident,you defineitely need a car insurance or a liability insurance for driving a car. Chaeck out online insurance sometimes they have free quotes such as http://www.oneshopinsurance.com they might help you with your concern.

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There are plenty of places to provide info on insurance:
http://www.thefinanceforums.com/
http://www.financemarkets.co.uk/boards/insurance/
http://www.insurance-daily.co.uk/

I would definately get the insurance it is well worth the piece of mind