Garage Insurance

<strong>What is Garage Insurance<br /><br /></strong>

What is Garage Insurance

Think of garage insurance as general liability for any business that involves the movement of automobiles.  ATV dealers to tow truck operations to mobile oil change operations, and everything in between requires a garage insurance policy.  These operations need liability coverage to protect them from “trip and fall” type accidents as well as damages that could be caused by vehicles or to customer vehicles. 

Garage Insurance Coverage Types Include

Premises Liability:  This gives you protection should someone (non-employee) be injured on your premises.

Completed Operations:  Liability coverage that protects you should there be a claim arise from work you have performed.

Business Auto:  Coverage for liability and physical damage for automobiles owned by your business.

On Hook:  This is protection carried by tow truck operation for non-owned vehicles they are towing.

Garage Keepers:  This is coverage that protects you when customer vehicles are damaged while in your possession.  One example would be when a customer’s vehicle is at your body shop for repair.  Your building catches fire and the customers vehicle is damaged.  This is where garage keeper coverage would repair/replace that damaged vehicle.

Auto Dealer Liability:  New and used car dealers need auto dealer liability to cover their on-road liability.  This is just like the liability you carry on your personal auto, but for dealer fleets.

Dealers Open Lot:  DOL covers a new or used car dealers physical damage for vehicles they have for sale.  Dealers Open Lot is a car dealers physical damage coverage.

Inland Marine:  This term is often misunderstood.  Inland marine coverage for a garage operation would cover their moveable equipment and tools.  Mobile equipment, tools, off-location property are all forms of insurable items under an inland marine policy.

Workers Compensation:  Workers compensation insurance protects against one of the largest risk exposures to a garage business. In the event of a work-related injury, workers compensation pays the employee for health expenses and a portion of lost wages. For the business, it protects it from being sued for the injury under tort law.

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