Automotive Specialty Insurance

Business Insurance

The knowledge of the automotive aftermarket enables Alliant to offer SEMA member companies a huge array of insurance products that provide a variety of protection at preferred member pricing. 

How To Get The Most Out Of Your Membership.

At Alliant, We don't sell insurance, We help SEMA member companies buy it. The easiest way to get the most out of your membership is to discuss openly what your goals are and allow the brokerage expertise at Alliant the opportunity to create a proprietary plan that delivers on those objectives. Although it may sound complicated, it starts with a conversation which evolves into a formal proposal of insurance that is designed to meet the unique needs of your business and ends with delivering service that you come to expect.  Alliant understands that to drive profit to your bottom line takes careful planning so that products produced, purchased or sold are delivered on time and on budget while avoiding risks that may delay or derail a process. Understanding where these kinks may exist in your enterprise is critical and an essential key to designing and implementing an effective business insurance plan.

Liability Made Easy. Understanding product liability starts with understandng the auto aftermarket. Insurance companies using boiler plate templates violate the basic concept of seeking effiecientat. Alliant has created unique underwriting formulas to create efficiency rather the utlizing antiquated underwriting methodologies not aligned with the unique nature of the auto parts trade. Where many insurance executives use software to guess their way through policy design or would rather decline your business then roll up their sleeves to deliver a solution, Alliant Insurance stands to deliver. Understanding auto parts, their usage, the hierarchy of the auto parts distribution landscape and the perils that companies face is critical.

In most circumstances member companies are required by contract to provide a certificate of insurance, need to name someone as an additional named insured or have a landlord requiring proof of coverage which motivates the need for liability protection. For others, they understand the risk of defending themselves in a product failure allegation and want to partner with a carrier to transfer the risk from their balance sheet to an insurance company in exchange for a fair premium. Alliant's agents are auto industry veterans experienced in designing general liability policies for both manufacturers, auto part wholesale distributors, part jobbers, retailers or installers.

A typical general Liability policy affords the following core coverage’s:

General Aggregate: $ 2,000,000

Products and Completed Operations Aggregate: $ 2,000,000

Personal and Advertising Injury: $ 1,000,000

Each Occurrence: $ 1,000,000

Damage to Rented Premises: $    100,000

Medical Expense: $       5,000

Although the limits may vary, the above referenced coverage’s complete a General Liability policy. For some seeking just products liability, the above may appear to offer more coverage then needed. But in most cases standalone product liability being a subset to the above, may cost just as much as a complete general liability program and doesn’t provide exposures like Premise Liability for foot traffic on premise or Personal and Advertising injuries for exposure like defamation of character or wrongful detainment. The above coverage’s are further defined and applied to your business so you can make the executive decision on their applicability when presented. Whether you’re dealing with a contract negotiation with Additional Insured demands, don’t understand Hold Harmless Agreements or need assistance interpreting specialized waiver of subrogation language, Alliant is here to be of service.   

Bundling Property Insurance to Form a Package Policy. Similar to personal insurance combining different exposures onto one policy creates unique benefits that should be measured in dollars. When building your policy, Alliant will ask if there are company assets to be insured. The intent is to combine property coverage that will protect those assets from common perils like fire and theft to name a few. The intent is to create a comprehensive package policy that affords economy of scale benefits.

Some of the typical coverage’s that go into a property program are as follows:

Buildings, Tenant Improvement, Equipment, Tools, Fixtures, Furnishings, Raw Materials, Work In Progress, Finished Goods, Inventory, Marketing and Shipping Supplies, Mobile Equipment, Monies and Securities on Premise and Off Premise, Trade Show Booths and much, much more. Understanding how to extract information from automotive companies is paramount to designing adequate policies that deliver when coverage is needed most.

Manufacturers; Understanding the man hours that went into designing a first article, the importance a jig may have in a new product launch, being dependent on a unique one off tool that completes a process, the time delay in working with a strategic component supplier or how an outsourced process and or function of manufacturing fits into the big picture is key to adequate policy design.

Retailers; Brick and mortar retailers rely on their foot print in the communities they serve and any interruption in this daily service is measured in dollars. Therefore careful consideration must be made beyond checking inventory to insure business interruption coverage pays the continuing operating expenses and lost net profit post loss. This effort is further exasperated when eCommerce is part of the corporate make up. When properties of others are stored in your care custody and control, exposures should be addressed before a loss occurs.

Distributors; may have unique distribution systems that create vulnerabilities if a cargo container is lost at sea or a fire at a suppliers manufacturing plant prevents goods from being delivered. Fleet management takes time and each hour off of the road cost money. From Ocean Cargo, International Air, Inland Rail or Interstate Cargo, protecting cash flow starts and stops with each shipment and insuring their safe deliver is the cornerstone of a detailed property program.

Cost of Turning Wheels into Dollars. In most cases business owners who use their personal vehicles for company use may insure those vehicles on a personal auto policy. Should their insurer make this discovery they may charge additional premium by adding an endorsement or decline coverage entirely. For some, registering vehicles in the company name has assorted benefits beyond insurance that have to be weighed against the inherent risks they create. From direct liability exposures caused by hitting someone or something, to the physical damage exposure of damage to the vehicle itself, understanding how to structure a commercial policy is important. At Alliant, discussing the direct exposure of owned vehicles is just the beginning. Adding Hired and Non Owned auto coverage should be considered to pick up the incidental exposure of experiencing liability exposure due to the renting of a vehicle or the consequential exposure of getting pulled into an auto claim caused by someone working on your behalf or using their own vehicle in your business. Of course, for some managing wide auto fleets in assorted states requires attention to detail in hiring key drivers that understand they have the company profit between their foot and the gas pedal. Training, maintenance and storage becomes a fiber of a comprehensive commercial auto policy / risk management plan.

 

Alliant understands how to bundle Liability, Property and Auto coverage’s for Automotive Aftermarket companies  while delivering single no interest billing programs that is within budget making it easy along the way.  

 Getting started: There are many ways Alliant can serve your immediate needs:

  1. Call to discuss with a licensed Alliant Broker.
  2. Complete the online application
  3. Download, print and complete the PDF version of the SEIA Program Application
  4. Email a question or copy of existing policy for a free coverage audit.  


Talk with the auto industry insurance experts at Alliant Insurance.
Call us toll free at (800) 390-9099.

Copyright © 2017 Alliant Insurance Services, Inc. - All Rights Reserved. Website Design and Development - eToolDevelopers, LLC