Tag: Florida Dealer Insurance

Dealer Lot Protection (Part Eight)

Monitoring Employees Auto dealerships are fast-paced, complex enterprises dealing with high-value assets. They can easily earn 10 times the revenue in a day that an employee might earn in a year. When temptation is great, trust is at a premium.   Dealerships must implement—and employees must accept—measures to prevent fraud by staff members. These include: Rigorous pre-employment screening for any evidence of unethical or fraudulent...

Dealer Risk Management (Part Five)

Test Drives Tight control over keys does not eliminate the need for rigorous policies and procedures regarding test drives.   In particular, one should also have a dealer employee ride along on every demonstration and test drive. Normally that is not an issue, as the test drive is the best opportunity for a salesman to point out the features of the vehicle. The only conceivable...

Dealer Risk Management (Part Four)

Controlling Access to Keys Costly as natural hazards and burglary-type thefts can be, the most persistent source of loss for a dealership is theft of vehicles by fraudulent individuals posing as legitimate buyers.   Step one for every modern car dealership should be to utilize one of the new electronic key-tracking applications that are rapidly becoming standard features of dealer operations.   Before discussing how...

Dealer Risk Management (Part Two)

Addressing Natural Hazards Earlier, we stated that the presence of natural hazards was an important—if often overlooked—consideration in selecting a site for a dealership. Natural disasters have taken a heavy toll on dealerships in recent years, and dealers can expect to find insurance underwriters digging deeply into their hazard exposures and plans to avoid them or mitigate the losses.   For all the perils nature...

Dealer Risk Management (Part One)

Securing your Dealer Lot There are many tools and techniques available in the market for protecting vehicles on your lot from damage and theft. But there is no tool for guarding against complacency, which it is easy to fall into after implementing a security plan and focusing on the intense competition you face.   Fencing a lot would certainly control access, but could also be...

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