TWFG Commercial Business School – Auto Repair 1 Auto Dealer Program.

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Auto Dealer Program

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TWFG Commercial Business SchoolRetail & Service

Independent Auto Dealer Program

TWFG now has access an Independent Auto Dealer Program through Cornerstone Underwriting Partners (CUP)

Program includes:Garage LiabilityGaragekeepersDealer’s Open LotDealer Errors & OmissionsOther Key Coverages

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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 & CollisionNot available for risks within 25 miles of

coastal waters or in Flood Zone A locations

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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 salesDealers with some repair and service workOther activities can include:Loan processingOffering of various insurance productsOther associated activities

New Ventures are Acceptable

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TWFG Commercial Business School Retail & Service

Independent Auto Dealer Program

Admitted or Non-AdmittedThis 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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Independent Auto Dealer Program

Eligible Classes Include:Independent retail auto/truck dealers with NO

service activityDealers with service/repair activity up to 49% of

total revenueUsed auto Wholesale/BrokersUsed Auto Auctions

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Independent Auto Dealer Program

Ineligible Classes Include:Salvage OperationsFranchise/New Auto SalesMono-Line Dealer’s Open LotRepossession OperationsHandicapped Modifications, Dealers or RepairCar RentalMotorcycles, ATVs, Watercraft

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Independent Auto Dealer Program

Program Highlights:Minimum Premium $1000Maximum Deductible $5000Garage Liability Limit Up to $1,000,000Fire Legal Liability Limit Up to $300,000Dealer’s Open Lot Limit Up to $750,000Garagekeepers Up to $500,000**New Ventures Acceptable

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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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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 premiumSigned PIP and UM/UIM rejections forms when

applicable

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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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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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Independent Auto Dealer Program

Coverage Descriptions:Dealer’s Physical Damage Coverage(Dealer’s Open

Lot) – Provides physical damage coverage to vehicles held or saleOptional Coverages:

Odometer Alteration Broad Form Garage Endorsement

Truth-In-Lending E&O On-Hook CoverageTitle Errors & Omissions Specified Auto

CoverageInsurance Agent’s E&O Broad Form Products

CoverageDrive Other Car

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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 Retail & Service

Questions???