A motor vehicle dealer bond, auto dealer bond, or used car dealer bond guarantees that the automotive dealer complies with tax and judgment guidelines, local laws, and all federal and state laws that relate to motor vehicles.
A surety bond means that a bonding company has reviewed the dealership’s financial information and has found them to be a financially stable company. Consumers receive protection from a motor vehicle dealer bond. The bonding company is able to step in to resolve situations for the consumer if a transaction between the dealer and consumer turns negative. A surety bond protects the consumer against damages from negative or wrong behavior, fraud, and other unethical practices.
Harrison Insurance of Colonial Heights has over 39 years of working with automotive dealerships in the Virginia area. If it is time to review your current policy, or you are opening a new dealership, contact us to schedule a time for us to review your dealership’s needs, and to show you how we can help.