Garage liability insurance offers the lawful responsibility of franchised and non-franchised dealers of vehicles for claims of bodily injury and property damage from their commercial activities. Moreover, these vehicles for claims include cars, trucks, truck tractors, motorcycles, recreational vehicles, and trailers.
Additionally, this coverage offers two different policies: one that deals with garage activities involving the ownership, use, or maintenance of automobiles, and the other that deals with all other garage works. Furthermore, both separate policies have insured provisions and limits on insurance terms.
How Does Garage Liability Insurance Work
Companies that sell, repair, service, or park automobiles are covered by a kind of commercial general liability insurance known as garage liability insurance. It includes lawful costs that may increase from related litigation as well as medical, repair, or replacement expenses for the client’s property damage or bodily injury that happened to the business’s asset or as a consequence of work it did through item-completed coverage.
Additionally, this coverage will cover losses to a client’s personal belongings but will not offer coverage for their car. For this reason, the kind of claim needed in this circumstance is called a garagekeeper’s liability. Furthermore, a garage liability policy is essential for financial security since regular general liability insurance usually does not cover the hazards unique to these kinds of businesses.
What Does Garage Liability Insurance Cover
Since commercial general liability offers coverage against garage car hazards despite having general liability, certain exposures to such risks are not covered. These restrictions usually cancel any policy for car loss that is left for servicing, repair, or storage. Additionally, garage car insurance is made to offer coverage for specific hazards in garages, especially those that are not covered by other providers.
Moreover, the following are the standard coverages for garage car insurance, which include:
- other parties Liability
- Benefits from accidents
- Uninsured motorist coverage
- Legal responsibility for any harm to a client vehicle while it is in care, custody, or control
Furthermore, similar to other car insurance policies, a variety of endorsements will be included to guarantee that coverage is complete immediately for the particular requirements of the company.
What Does Garage Liability Insurance Not Cover
Garage liability insurance does not offer coverage for cars owned and operated by the business or its workers. Additionally, it does not cover claims relating to the loss or theft of the covered business’s property, including tools and equipment, or the building in which it works. Also, it excludes sickness and injuries but can be covered by workers’ compensation.
Furthermore, it does not provide coverage for loss or damage to a client’s vehicle while they are in the business’s care, custody, or control. However, separate garagekeeper liability coverage would cover such incidents. Lastly, other risks like robbery, fire, burglary, and losses due to an accident are covered.
How Much Does Garage Liability Insurance Cost
Garage liability insurance is a customized solution that depends on the amount of the specific business needed. The following factors that affect the cost of this coverage include:
- Number of staff
- Size of operation
- Services provided
- The volume of client cars handled
- Location
Additionally, your premiums will also be impacted by the type of garage coverage you choose. This impact can range from basic liability to comprehensive plans with Garage Keepers insurance and additional endorsements.
Who Needs Garage Liability Insurance
A misunderstanding regarding this kind of insurance is that those who use garages or repair shops for cars are the only ones who require it. While the policy is highly recommended for dealerships and auto repair professionals, it is also suggested for any business that deals with, sells, or transports automobiles.
Furthermore, if you work in any of the following fields, you should think about purchasing this kind of coverage:
- Vehicle painter
- Tow truck operator
- Auto glass installer
- Valet driver
- Detailing operator
- Emissions tester
Additionally, you must take this coverage this coverage into account if you are the owner of a parking garage, service station, or even an oil change business. Lastly, your main policy will vary depending on the kind of business you operate and the services you offer.
How to Get Garage Liability Insurance
By submitting a simple online application, you may weigh rates for general liability insurance and other plans from reputable insurers. Additionally, you can discuss your alternatives with an agent regarding garage insurance.
Furthermore, you may speak with a qualified agent about products like company owner’s plans, commercial vehicle insurance, and workers’ compensation if you’re unsure of what kind of insurance your small business requires. After selecting a policy, you can start receiving coverage in less than a day.
Major Benefits of Garage Liability Insurance
Garage liability insurance is vital for auto benefit businesses to secure against dangers like client wounds or property harm. It covers legitimate costs, judgments, and settlements related to vehicle operations. Business owners should understand their policy coverage to safeguard against potential claims.