The coverages provided by the program are Comprehensive and Collision. Comprehensive provides coverage for damage to a vehicle except for collision or upset or other perils specifically excluded (collision or upset coverage is provided under Collision). Coverage may be written for Comprehensive only, but it is advised that Collision coverage be carried also. In addition to providing coverage for vehicles involved in a collision, carrying Collision Coverage affords economic loss protection and so-called “drive-away collision."
There are four types of vehicles for which coverage may be obtained:
- Floor Planned Inventory – these are vehicles held for sale.
- Floor Planned Demonstrators – these are vehicles that are financed on the GMAC Demonstrator program and that are provided for any person or entity’s regular use.
- Floor Planned Shop Rentals – these are vehicles financed on the GMAC Shop Rental program.
- Dealer Daily Rental – the GMAC Daily Rental program insures vehicles for liability and physical damage coverages.
The pricing of coverage is determined based upon an individual dealership’s loss information, geographic location, inventory value, and deductible selected. Therefore, to obtain the best pricing and rate a dealership should be sure to submit its historic loss information when applying for coverage.
A wide array of Comprehensive and Collision deductibles are available. Comprehensive deductibles feature a "per vehicle" deductible and a "per loss" aggregate deductible. The "per loss" aggregate is the maximum deductible a dealership will be charged. In certain states there are special "wind/hail" comprehensive deductibles.
- Proven, efficient claims handling - expert claims personnel with over 60 years experience handling auto dealer physical damage claims.
- No monthly reports of values.
- Spot deliveries covered.
- Economic loss coverage in collision coverage.
- Coverage applies in the United States, its territories and possessions, Puerto Rico and Canada.
- Large selection of deductibles available.
- Free Loss Prevention / Control services.
- Special payments to move vehicles out of harm's way in the event of developing hurricane or flood activity.
Applications or information may be obtained by contacting your GMAC account representative, your GMAC Insurance dealership insurance specialist, your GMAC Insurance account executive, or our Customer Service center at 800-729-4622, option #4.
You may also click here to email us with your inquiries, and we’ll get back with you promptly.
* This is a brief description for illustrative purposes, only. For a complete explanation of the terms, provisions, conditions, coverages, deductibles and exclusions of the program refer to the policy.