TWFG Commercial Business School – Auto Repair
Auto Dealer Program
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TWFG Commercial Business School – Auto Repair
TWFG Commercial Business School
Retail & Service
Independent Auto Dealer Program
TWFG now has access an Independent Auto Dealer Program through
Cornerstone Underwriting Partners (CUP)
Program includes:
Garage Liability
Garagekeepers
Dealer’s Open Lot
Dealer Errors & Omissions
Other Key Coverages
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TWFG Commercial Business School – Auto Repair
TWFG Commercial Business School
Retail & Service
Independent Auto Dealer Program
Program does not include:
Property
We can obtain mono-line property quotes from a majority
of our National Carriers in areas not subject to coastal
exposures
Comp & Collision
Not available for risks within 25 miles of coastal waters or
in Flood Zone A locations
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TWFG Commercial Business School – Auto Repair
TWFG Commercial Business School
Retail & Service
Independent Auto Dealer Program
Program designed for:
Typical used car lots that sell everyday used cars/trucks.
Primary activity is vehicle sales
Dealers with some repair and service work
Other activities can include:
Loan processing
Offering of various insurance products
Other associated activities
New Ventures are Acceptable
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TWFG Commercial Business School – Auto Repair
TWFG Commercial Business School
Retail & Service
Independent Auto Dealer Program
Admitted or Non-Admitted
This program is offered on admitted or non-admitted depending on
the state.
Huge market advantage in those states where program is offered on
an admitted basis
Review the Independent Auto Dealer State Availability document for
individual state details
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Eligible Classes Include:
Independent retail auto/truck dealers with NO service activity
Dealers with service/repair activity up to 49% of total revenue
Used auto Wholesale/Brokers
Used Auto Auctions
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Ineligible Classes Include:
Salvage Operations
Franchise/New Auto Sales
Mono-Line Dealer’s Open Lot
Repossession Operations
Handicapped Modifications, Dealers or Repair
Car Rental
Motorcycles, ATVs, Watercraft
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Program Highlights:
Minimum Premium
Maximum Deductible
Garage Liability Limit
Fire Legal Liability Limit
Dealer’s Open Lot Limit
Garagekeepers
New Ventures Acceptable
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$1000
$5000
Up to $1,000,000
Up to $300,000
Up to $750,000
Up to $500,000**
TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Submission Requirements:
Independent Auto Dealer Supplemental Application (Competitor apps
are acceptable)
3 Years Loss Runs (Statements of no loss may be acceptable per
underwriting approval)
An FEIN or Social Security Number is Required
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Binding Requirements:
Signed Quote
$250 Flat Policy Fee (fully earned) for policies under $10,000 in
premium
$500 Flat Policy Fee (fully earned) for policies over $10,000 in
premium
Signed PIP and UM/UIM rejections forms when applicable
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Coverage Descriptions:
Garage Liability – Combines GL and Auto Liability due to lines
separating the two are often blurred
Medical Payments – Options include Auto Med Pay, Premises Med
Pay, and Combined Med Pay
UM/UIM – The coverage functions the same as it does on any auto
policy. Charged on “per dealer plate” basis
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Coverage Descriptions:
Garagekeepers – Provides physical damage coverage for autos while
in the care, control, and custody of the insured. There are 2
options when selecting Garagekeepers:
Legal Liability – Provides coverage for physical
damage arising from negligence
Primary – Provides primary coverage to customers’
autos. The policy responds regardless of whether
or not the insured was negligent
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Coverage Descriptions:
Dealer’s Physical Damage Coverage(Dealer’s Open Lot) –
Provides physical damage coverage to vehicles held or sale
Optional Coverages:
Odometer Alteration
Broad Form Garage Endorsement
Truth-In-Lending E&O
On-Hook Coverage
Title Errors & Omissions Specified Auto Coverage
Insurance Agent’s E&O
Broad Form Products Coverage
Drive Other Car
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TWFG Commercial Business School – Auto Repair
Independent Auto Dealer Program
Coverage Descriptions:
Garage Liability – Combines GL and Auto Liability due to lines
separating the two are often blurred
Medical Payments – Options include Auto Med Pay, Premises Med
Pay, and Combined Med Pay
UM/UIM – The coverage functions the same as it does on any auto
policy. Charged on “per dealer plate” basis
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TWFG Commercial Business School – Auto Repair
TWFG Commercial Business School
Retail & Service
Questions???
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