Risk management that keeps you steadily behind the wheel
For today’s leading automotive dealers, keeping up with the unpredictable automotive industry and its increasing demands can be, even at the best of times, a challenging undertaking.
From protecting your employees to safeguarding your inventory, showrooms and service areas from theft, loss and damage, there’s more to your car dealership then just conducting test drives with potential customers and showcasing the latest models on your lot.
Undeniably, there’s no shortage of risks when it comes to running an automotive dealership.
At BFL CANADA, our seasoned risk management advisors can devise a comprehensive insurance program designed both around your auto dealership’s daily operations and the coverage you need to deal directly with all types of unpredictable incidents, including property damage and asset damage.
Ready to take our coverage solutions for a spin?
Discover your coverage solutions
Regardless of the size of your lot, inventory and team, or the type of services you provide, our custom coverage solutions at BFL CANADA are designed to help automotive dealers of all stripes to reduce their total cost of risk.
All risk coverage provided on replacement cost valuation for loss settlement. Property coverage includes buildings, furnishings, signage and lots.
Is covered under the property section of the policy and includes all vehicles held for sale whether new or used, it also includes all parts and items held for sale. All are covered under all risk coverage and subject to replacement cost valuation for loss settlement.
Collision Centre’s – Liability coverage is provided for all repairs and body shop operations performed on customer units. Physical damage coverage is provided under this section for all demonstrator units used by the dealership; all owned and plated units that belong to the dealership and for all customer units while they are in the care custody and control of the dealership.
CGL, UMBRELLA & E&O
The base limit of Commercial General Liability that is sold is $5,000,000 and we can offer Umbrella Coverage up to $25,000,000. Errors and Omissions coverage is available to cover the operations of the finance office and the products that they offer as part of the sales process.
Is available to cover both First Party losses (damage to the system and software used by the dealership) and Third Party Losses, which could affect your customers, should their personal information by obtained during a hack.
IN HOUSE LEASING PROGRAM
Is available for Lessor’s Contingent coverage in the event that a vehicle is not returned upon the completion of the lease. Liability Insurance is also in place for the ownership of the vehicle as the Dealership is the owner of the unit during the lease term and therefore could be named in a lawsuit involving the unit.
DIRECTORS AND OFFICERS LIABILITY AND EXECUTIVE RISKS
Protects your corporate entity and its directors’ and officers’ personal liability from third-party lawsuits and defense-related costs. Coverage should include employment practices liability, environmental liability defense costs, outside directorship liability and more.
SOLUTIONS FOR DISRUPTIVE PRODUCTS
Everyday there are new scenarios being brought into the Dealership environment, Car Sharing, Subscription Based Purchasing etc. These bring new challenges from an Insurance perspective. We will work with you to build cost effective solutions for these and any other new products that will evolve.
CLAIMS ADVOCACY PROFESSIONALS
When you have a claim, the claims response will have a significant impact on your reputation and whether you retain your customer in an incredibly competitive marketplace. With dedicated Claims Advocacy professionals that work for you at no additional cost, BFL CANADA makes a difference.
Our risk management engineering process
- Rental contracts and legal terminology
- Screening protocols for clients regarding driver’s licenses, use of vehicles and insurance confirmation
- Obtaining drivers’ information (copy of driver’s license)
- Setting up confirmed routes for test drives
- Salesperson ride along
- Building ownership
- Sales paperwork
- Leasing and service of vehicles
- Building maintenance, shop procedures and lot maintenance documentation
- Inspections on buildings and lots
- Business and paperwork procedures
- Coverage comparison and cost analysis
- Deductible option
- Owned units and staff procedures for vehicle usage
Representatives available across Canada
The BFL CANADA advantage in a competitive market
BFL CANADA has achieved extraordinary growth because of our consistent ability to perform and deliver due to our expertise, professionalism and dedication, as well as our entrepreneurial culture. This culture and work ethic have driven our growth and attracted organizations with which we have established meaningful and mutually beneficial partnerships.
WHY DOING BUSINESS WITH BFL CANADA IS IN YOUR BEST INTEREST?
We are insurance brokers, we don’t work for an insurance company.
- We negotiate on your behalf to get the best protection, rate and deductibles.
- We work with you to develop tailor-made solutions adapted to your reality.
- We deal with all major insurers that specialize in your industry.
- We have offices across Canada to meet your local needs and partners in over 140 countries for your global ambitions.
- We are solution seekers for companies of all sizes and every industry.
At BFL CANADA, we help our clients get peace of mind. Most insurance policies require various insurance companies to share the risk. As your insurance broker, we are able to canvass the insurance marketplace, approach financially sound insurers and always act in your best interest.