Looking for coverage on your Auto Repair Garage or Dealership? AIP can write this coverage with many companies as either a stand alone policy or we can include some business property and write this as a business owners policy (or BOP). From the Private Passenger auto mechanic to those that works on big machinery or motorcycles, we can offer great rates for great coverage.
If you are looking for auto repair insurance, you have found the right place. We also have great rates for the used car dealerships and the Garage Insurance is defiantly a needed coverage for either type of business.
Garage Liability Insurance
A Garage Policy was originally designed to insure the risks associated with businesses which sell, service, store, or park vehicles designed for on road use.
Types of Coverage Included: The garage liability policy can provide coverage for:
- Auto Liability
- Physical Damage
- Commercial General Liability
Since all three types of coverage are combined into one policy, it is called a Garage Keepers Insurance Policy, and includes:
- Garage Keepers Insurance
- Garage Liability (Automobile Portion)
- Garage Liability (Non Auto Portion)
Garage Keepers Insurance
This section covers the loss to a covered vehicle or equipment left in your care. When this insurance is on a ‘Legal Liability’ basis, claims will only be paid for the losses for which you are legally obligated to pay. An endorsement, known as a ‘direct coverage endorsement’ or ‘goodwill endorsement’ can be added to the policy, which would pay for all losses, even if your business is not legally obligated to pay.
The “Auto Portion” of Garage Liability :
Damage to Customer Vehicles –This section of the garage policy pays for physical damage which your business caused to a customer’s vehicle. The auto portion usually has a deductible, normally $500 per vehicle.
Damage to Non-Customer Vehicles – This section provides coverage in the event that someone in your business is involved in an accident, causing personal injury or property damage to someone else, while driving a customer’s vehicle. A $250 deductible is typical in this area.
The “Other Than Auto” Section of a Garage Policy:
This section of the Garage Policy would be similar to a Commercial General Liability Policy. This would provide insurance coverage for your business in the event a customer is injured on your business property.
Every policy is different and your individual needs and situation will impact the type of policy you will get and the coverage that will be offered.