Cornerstone Insurance Agency
Serving Georgia Families Since 1986
For A Quote Call Us At 770-413-0807
Non-Dealers - coverage is much the same as the coverage for Dealers with an important difference. Automobile liability does not extend to owned vehicles. It covers only non-owned automobiles used in the policyholders garage business.
Dealers Open Lot (also known as Dealers Physical Damage)
This is physical damage coverage for owned automobiles. It may be extended to cover vehicles held for sale on consignment but that extension is not available with all insurance companies. Limits should be selected with the largest value of any one automobile and the largest value of automobiles that may be on the given lot at any one time. Coverage is frequently offered on a Specified Causes of Loss basis plus Collision. Comprehensive plus Collision is not available from all insurance companies. Beware, most forms contain a mileage limitation on collision and some include wording that may impose a penalty for under insurance.
The only coverage that is required by law is liability coverage, but it is a good idea to add medical and uninsured motorist coverage to the policy as well. If you are going to be purchasing and driving vehicles worth over $10,000 it is a good idea to purchase physical damage coverage.
False Pretense Coverage False Pretense coverage responds to losses that arise out of voluntarily parting with a vehicle if induced to do so by any fraudulent scheme, trick, device or false pretense, or purchasing the automobile from a seller who did not have legal title. This
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Licensed as a Georgia Independent Insurance Agents we are committed to providing you with great service and protection at affordable rates. We make YOU our number one priority. |
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