garage keepers insurance

garage keepers insurance

Garage Keepers Insurance

Related Pages >> Garage Liability Insurance – Tow Truck Insurance – Commercial Vehicle Insurance Garage Keepers Liability is offered in three basic tow truck insurance coverage options: “Legal” – Covers damages for which you have been proven legally liable , i.e., damages to a customer’s vehicle due to your negligence. “Direct Excess” – Covers damages regardless of fault or liability, pays in excess over the customer’s insurance policy . “Direct Primary” – Also covers damages regardless of fault or liability and is primary insurance, even if the customer carriers their own policy. Direct Primary provides broader cover and typically is more expensive than both the Legal or Direct Excess options. You can choose to have your Garage Keepers option cover “Specified Perils” or “All Risk/Comprehensive Perils”. As with all tow truck insurance coverage, be aware of any exclusions written in your liability policy. The limits and deductibles you choose for your Garage Keepers Liability coverage option will determine the maximum amount of coverage available on a per-incident basis. Discuss with your insurance agent appropriate limits and deductibles you should choose to adequately insure your towing operations. Consider how your limit might affect you in case of catastrophic loss. Limits offered will vary state-to-state and between insurance carriers; likewise for the deductibles you choose. Be certain to periodically review your Garage Keepers Liability coverage with your agent to ensure you have the adequate tow truck insurance coverage necessary to protect your investments and operations.
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Garage Keepers Insurance

Garage keepers Legal Liability insurance provides protection in case a vehicle is damaged by fire, theft, vandalism or collision. Whether one car or a garage full of cars is damaged while in your care, the total amount covered by Garage keepers insurance is based on the limit you choose. A case where this may be needed is: You get a call to tow a vehicle at night. The garage that you need to bring the car to is closed so you store it in your garage overnight. During the night, you are broken into and the car is vandalized – Garage keepers would cover the loss. Another example is you take a repaired car out for a test drive and get into an accident. Garage keepers would also take care of a covered loss.
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Garage Keepers Insurance

Garage liability insurance Get covered for damages arising from the operation of an auto in the course of garage operations. This option is an enhancement to commercial property liability coverage. An auto service industry standard, this coverage is necessary to ensure that your auto service shop is fully covered. Talk to a Nationwide agent to learn more. Garage keepers coverage Protect yourself and your valued customers for physical damage to a customer’s auto during the course of garage operations.  This is an enhancement to commercial property liability coverage. Make sure your auto repair business is fully covered with this necessary addition. Talk to a Nationwide agent to learn more. Commercial auto insurance Helps pay for any claims resulting from an employee’s accident while driving a company vehicle, or their own while on company time. Read more about commercial auto coverage Equipment breakdown coverage Protect the investment in your equipment against power surges, mechanical breakdown, burnout or operator error. It’s also known as “boiler and machinery” insurance. Read more about equipment breakdown insurance Employee practices liability insurance Protect yourself against charges of discrimination, harassment or wrongful termination by employees at your auto service and repair shop. Read more about EPL coverage Sewer or drain coverage Helps pay for cleanup if rain or a water main break causes your sewer or drain to back up into your garage. Read more about property and sewer coverage Workers Compensation Protect those who work for you. This coverage can replace lost wages, pay for medical treatment and protect your business and its assets. Read more about workers compensation insurance Medical payments coverage Use medical payments insurance for expenses resulting from injury to others on premises you own or rent. Employee dishonesty coverage Get coverage to help recover losses from employee theft. Work with your agent to find the right amount of coverage for your business.
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Garage Keepers Insurance

When determining if your wash operation requires garage keepers coverage, review the entire carwash cycle and evaluate if your wash would take care, custody or control of a customer’s vehicle at any point. Work with an insurance agent thoroughly versed in carwash operations to make sure you choose the best type of garage keepers coverage for your operation.
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Garage Keepers Insurance

Business Safety and Loss Prevention Get disaster and safety planning support from Nationwide, a trusted business insurance company. Accident Medical Insurance Protect your organization and its participants during group events. Medical Stop Loss Insurance Limit your risk while keeping your employees safe and healthy. Business Interruption Insurance Keep your business running when the power, gas or other utility goes out. Businessowners Policy Find the right BOP insurance for your medium to small business. Disaster Planning and Recovery Prepare your business for natural or manmade emergencies. Agriculture Insurance Find solutions, resources and products for your agribusiness. Commercial Business Insurance Discounts Get up to 10% off uniforms and workplace safety products. Business Banking Find banking solutions that suit the needs of your business. Business Alerts & Insights Keep on top of safety issues that can affect your bottom line.
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Garage Keepers Insurance

Carwash owners and operators must ask themselves if their operations need garage keepers liability insurance. This may seem like a simple question to pose to an insurance agent, however, the answer is fairly complicated. In order to properly answer this question, we first must look at the typical commercial general liability (CGL) policy, specifically regarding the exclusions for this type of policy.
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Garage Keepers Insurance

E. Garagekeepers Coverage E. Garagekeepers Coverage This coverage is a form of bailee liability designed to cover damage to autos belonging to others while in the insured’s care. The care, custody and control exclusions in the liability sections create the need for this coverage. The wording shown here provides garagekeepers coverage only on a legal liability basis. The insured must be negligent in causing the damage before the policy will respond. Broader coverage is available so that the policy would respond regardless of negligence (direct primary or direct excess) by checking a box in Item Five of the Declarations and charging an additional premium. With the direct excess option, coverage is excess over any coverage provided by the customer’s insurance, but could be used to cover the customer’s physical damage deductible, subject to the auto dealer’s deductible on the garagekeepers coverage. It might also be used to pay for a substitute vehicle while the customer’s auto is being repaired, since the definition of “loss” includes loss of use for the purpose of garagekeepers coverage (see Definitions). If the customer has no direct insurance to cover any part of the loss, garagekeepers coverage with the excess option becomes primary. In no event should the election of the direct excess option, for which the insured is charged additional premium, provide less coverage than that provided by the legal liability coverage in the basic policy. If the insured is negligent, the garagekeepers coverage should pay the full amount of the claim (subject to the deductible) without consideration for the customer’s own insurance. With the direct primary option, any “loss” to the customer’s auto, as long as damage is caused by a covered peril, will be covered without regard either to the insured’s negligence or the customer’s own insurance. See technical report Garagekeepers Options on the Auto Dealers Coverage Form.
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E. Garagekeepers Coverage This coverage is a form of bailee liability designed to cover damage to autos belonging to others while in the insured’s care. The care, custody and control exclusions in the liability sections create the need for this coverage. The wording shown here provides garagekeepers coverage only on a legal liability basis. The insured must be negligent in causing the damage before the policy will respond. Broader coverage is available so that the policy would respond regardless of negligence (direct primary or direct excess) by checking a box in Item Five of the Declarations and charging an additional premium. With the direct excess option, coverage is excess over any coverage provided by the customer’s insurance, but could be used to cover the customer’s physical damage deductible, subject to the auto dealer’s deductible on the garagekeepers coverage. It might also be used to pay for a substitute vehicle while the customer’s auto is being repaired, since the definition of “loss” includes loss of use for the purpose of garagekeepers coverage (see Definitions). If the customer has no direct insurance to cover any part of the loss, garagekeepers coverage with the excess option becomes primary. In no event should the election of the direct excess option, for which the insured is charged additional premium, provide less coverage than that provided by the legal liability coverage in the basic policy. If the insured is negligent, the garagekeepers coverage should pay the full amount of the claim (subject to the deductible) without consideration for the customer’s own insurance. With the direct primary option, any “loss” to the customer’s auto, as long as damage is caused by a covered peril, will be covered without regard either to the insured’s negligence or the customer’s own insurance. See technical report Garagekeepers Options on the Auto Dealers Coverage Form.

Published on Aug 24, 2017 | Under Garage | By michael ellis
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