Hundreds of automobile dealers are signing up for auto dealership insurance to protect them from natural and from man-made disasters. It is not unheard of for a dealership to be devastated by a horrific natural disaster such as a flood, tornado, or hurricane which can mean financial ruin unless they happen to be covered by an insurance policy. Sometimes teens and adults target dealerships as a way to wreak havoc by keying the cars, slashing tires, breaking glass, and sometimes stealing items from the lot.
While the auto dealership insurance policy works in much the same way as a regular home or auto insurance policy, they are much more complicated and there is a lot more paperwork involved when a claim must be made. The first thing to do to prepare to submit a claim to the insurance company is to gather as much documentation as possible. This could include police reports, medical reports, pictures, and even video of the cause of the damage. Usually, the insurance company has a number to call or you may even be able to submit the claim through a secure website.
Once the claim is received, the insurance company sends a claims agent or team to do an investigation of the claim. Depending on the company, this could include depositions, interviews, and onsite photographs. The process can also be a bit lengthy depending on the type of claim that has been filed.
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