Before buying second hand cars one should be aware of all the different types of insurance coverage available for used car dealers. The types of insurance coverage for second hand car dealers differ according to states but there are some common to all. Generally, the insurance schemes for used car dealers are expensive when compared t others. Here are insurance coverage for used cars in Sydney that are mandatory and optional according to different terms and conditions. Second hand car dealers should look for Garage liability that provides protection for any kind and amount of liability that may arise due to garage maintenance and ownership. Used cars in Sydney have different maintenance amount from other places and used car dealer. The other important coverage for second hand car dealers is the Auto liability. It provides protection in a situation when used car dealers may be sued in an auto accident. The limit of coverage again depends on particular states.
Used car dealers open lot is the type of coverage that provides protection against physical damage to the car. There is a particular percentage of coverage that is provided by the insurance coverage. These are the main coverage available that are important for the used car dealers whereas the other coverage are optional and depends from state to state whether available or not. Used cars in Sydney has different limits for the insurance cover that the dealers should be aware of before dealing in used cars.
