What vehicles are eligible for inclusion in the GMAC Wholesale Floor Plan Insurance Program?
Only vehicles in which GMAC has a wholesale security interest are eligible for coverage in this program.
Is this GMAC WFP available to dealers financed by GMAC in Canada?
Yes, and the program functions virtually identically to the U.S.

Does the GMAC WFP program provide coverage for a theft that occurs as a result of forgery of a title or other documents and/or identity theft?
Yes, in most cases. The coverage would be found in the language concerning False pretense. There are some exceptions, though and the policy should be consulted.
If a buyer gives me a check that is returned for insufficient funds is that False Pretense?
No. If the check is written on an otherwise open account the presentment of an "nsf" check, and any resulting loss, is not false pretense. If, however, the check is written on a previously closed checking account it could be a false pretense loss.
Are my dealer trades covered?
It depends on the dealer providing the trade. If it is a GMAC floored dealer, the vehicle can be transferred at the dealership before the trip home. In this case the car is covered by us as long as we have collision coverage. In the less likely event a comprehensive loss occurs, that would be covered in any event.

If the trade is made with a dealer who DOES NOT floor with GMAC, the vehicle is just like a trade-in; it is not covered until the dealer completes the paperwork to GMAC. In this case, the vehicle is assumed to be covered by the garage carrier.
If I move some vehicles to a temporary location such as a mall, a golf course, or something similar do I need to notify GMAC Insurance and will the vehicles be covered?
As long as the vehicles remain in the United States, its territories or possessions, Puerto Rico or Canada, they are covered regardless of where they are. If the location is temporary there is no need to contact GMAC Insurance. However, if the location is or will become permanent it is a good idea to notify your GMAC Insurance account representative.
Are so-called "spot deliveries" covered?
Yes, where state laws and regulations allow spot deliveries your policy will cover them.
Are "economic loss" payments available for Comprehensive losses?
No. Economic loss payments are made in connection with Collision losses with one exception. If a new vehicle is stolen and recovered with no other damage except additional miles added to the odometer, economic loss would be paid for the additional miles.
Is "drive-away" collision coverage provided?
Yes, provided you have chosen to add collision coverage. If so, drive-away is included as long as the vehicle remains in the United States, its territories and possessions, Puerto Rico and Canada.

How are rates and prices determined?
Your specific rates and premiums are based on the individual characteristics of your dealership including: past loss experience, location, deductible choices, and limits.

If I make improvements in the security of my dealership are credits available?
Usually credits are available for substantive improvements. Contact customer service to further discuss their availability.

How do the rates apply?
Rates that are developed for the individual dealership’s characteristics are applied per $100 of vehicle valuation, per year. The rate becomes a daily rate applied to the value of each insured vehicle. Different rates apply to different vehicle types - floor plan, demonstrator plan, and shop rental plan.

How do I get a quote for coverage in the GMAC WFP program?
Contact Customer Service at 800-729-4622,
your GMAC Insurance dealership insurance specialist,
your GMAC Insurance account executive, or
your GMAC representative.

To get the best rates possible you will need to provide us with loss information covering the last three years on company stationery from the company providing your coverage.

How will I be billed for coverage?
You will be billed as a part of your GMAC Wholesale statement. The charges are made on a "per vehicle" basis. You will only be billed for the time that a specific vehicle remains on your inventory.