Garage Keepers Insurance: Liability Coverage, Cost & Quotes From 11

Garage Keepers Insurance Definition

Before we get into the different types of garage attendants coverage, it would be best if we discussed how garage attendants insurance helps.

Your company is responsible for a customer’s car stored in the garage. A customer’s car can be damaged while it’s in your possession, and the role of garage attendant insurance is to make sure you don’t incur financial loss if the customer files a claim. Specifically, Garage Keepers Insurance will bear the cost of the following:

Reading: How much is garage keepers insurance

• the amount the owner of the damaged vehicle wants you to pay

• expenses for repair or replacement of vehicle parts

  Now that you know how a garage owners policy helps, let’s take a few minutes to review some of the most common types of garage owners insurance!

  liability insurance for garage owners

  Garage attendant liability coverage is the most common type of garage attendant insurance. this will take over reimbursements if you or an employee damaged a customer’s car. Keep in mind that Garage Keepers Liability Insurance does not pay a disgruntled customer on your behalf if the car in your care is damaged by weather, a vehicle accident caused by a third party, fire, theft, and vandalism.

  comprehensive coverage of garage attendants

  Garagekeepers comprehensive coverage, also called direct primary coverage, kicks in regardless of how a customer’s car was damaged while in your care. that is, it not only covers damages caused by errors or negligence made by you or an employee, but also by fire, theft, vandalism and vehicular accident caused by a third party.

  exclusions in garage keepers insurance

  Know that garage keepers insurance comes with exclusions. An insurance company will not cover the following:

  • theft of a customer’s personal effects stored inside the car in your custody

  • loss and damage caused by theft of an aftermarket car stereo that is not permanently installed

  • damage to already defective parts

    how much garage insurance do you need?

    The amount of garage keeper insurance you need to obtain depends on the number of customer vehicles in your custody. A company that has custody of only 10 cars will require less coverage than a company responsible for 20 cars.

    Experts recommend that small businesses get garage maintenance insurance that offers a limit of $1,500 per occurrence. on the other hand, large companies that offer garage services must obtain coverage of $2,500. But still, the best way to figure out how much coverage to get is to assess the risks your business faces.

    Garage Owners Liability Insurance vs. Garage Owners Liability Insurance

    Garage attendants liability coverage and garage attendants liability are not the same thing (although many say they are). Garage keepers liability insurance covers personal injury and property damage claims brought against your business.

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    On the other hand, garage owner’s liability insurance does not cover claims for personal injury or third party property damage. instead, he only handles claims from customers whose vehicle was damaged while in the custody of his business.

    useful business insurance policies in addition to garage maintenance insurance

    Your business needs other business insurance policies to get the best protection. The business insurance policies you will absolutely need are:

    • commercial property insurance

    • commercial auto insurance

    • workers compensation insurance

    • employee dishonesty insurance

      commercial property insurance

      Commercial property insurance covers the building or any other similar structure you are using as a car storage facility. extreme weather and fire can destroy your commercial space. in addition, theft and vandalism can cause some damage. commercial property insurance makes sure you don’t use personal funds to rebuild or repair buildings.

      Businesses that offer garage maintenance services, such as auto repair shops and auto detailing shops, decide to add business tools and equipment coverage to business property insurance. Business property insurance with business tools and equipment coverage will reimburse for losses if work tools and equipment were damaged due to extreme weather, lightning, theft, and other listed perils.

      commercial auto insurance

      If your garage maintenance business owns a vehicle and is using it for business purposes, consider obtaining commercial auto insurance. Commercial auto insurance provides the following protection:

      • auto liability coverage

      • physical damage coverage

      • emergency roadside assistance

        Your garage maintenance business vehicle could cause a vehicular accident. In connection, the job of auto liability coverage is to take over the emergency treatment of injured third parties. In addition, it reimburses people whose property was damaged. In other words, auto liability coverage in commercial auto insurance ensures that you don’t use personal funds in ending a vehicle accident in which you are at fault.

        Vehicular accidents will damage your business vehicle. lightning, fire, riots, vandalism, and theft can do the same. repairing or replacing damaged vehicle parts is very expensive, but not so expensive if you have physical damage coverage.

        Physical damage coverage helps your garage maintenance business turn over at little or no cost. It comes in two forms: collision and integral.

        See also : What is the insurance subscriber number? What is it for and how to find it?

        Collision physical damage coverage covers the cost of repairing or replacing parts if your garage maintenance business’s business vehicle was damaged when it collided with another vehicle or object while it was in motion. but keep in mind that this coverage will not cover you if you were involved in a collision while under the influence of alcohol, driving in pursuit with law enforcement, and other related criminal activity.

        Comprehensive physical damage coverage covers the costs to repair or replace parts if the following damaged your commercial vehicle:

        • flash: left your garage leaving the company vehicle out in the open as there is no more space inside the building. then lightning struck during a heavy rain and broke the batteries

        • vandalism: a group of teenagers did ugly and cheeky graffiti on their company’s commercial vehicle

        • theft: someone tried to break into the commercial vehicle of your garage maintenance business and severely damaged the doors

        • fire: faulty wiring sent electrical sparks to the gas tank. the gas tank then burst into flames and severely damaged some external components of the vehicle

        • Hail: Heavy hail occurred and broke the windows and headlights of the commercial vehicle of your garage maintenance business

          workers compensation insurance

          Your garage maintenance business won’t work without employees. Your employees can get injured or sick due to slip and falls or any other workplace accident.

          Workers’ compensation insurance helps you take care of employees. Specifically, this is an insurance policy that you can claim at the time an employee is injured or becomes ill due to work. Workers’ Compensation will pay for the employee’s hospitalization, treatment, and subsequent visits to the hospital.

          What if the employee needs to take a break to further heal from their illness or injury? Does workers compensation insurance cover lost wages? The answer is yes. Workers’ compensation insurance provides an allowance so the employee still has money during their temporary unemployment. the amount of the allowance will be equal to two-thirds of the worker’s average weekly salary.

          what happens if the employee dies? Can Workers Compensation Still Help? the answer to this is yes too. In the event that the employee dies, workers’ compensation insurance will provide death benefits to their dependents, specifically, the spouse and children.

          why should you get workers compensation insurance?

          In addition to helping you care for injured or ill employees, it’s important to obtain workers’ compensation insurance to avoid fines. Authorities require employers to obtain workers’ compensation insurance. failure to comply could result in the imposition of fines. imprisonment is another possible consequence.

          Another thing, workers’ compensation insurance also offers some legal protection. Some states in the United States prohibit employees from suing employers who provide workers’ compensation coverage. That said, if you have workers’ compensation insurance, there may be no need to obtain employer liability insurance. but still, it all depends on the workers’ compensation law of the state where your business is located. and then contact the authorities just to be sure.

          employee dishonesty insurance

          Employees can commit crimes against your garage maintenance business. it is certain that you will incur losses if this happens. That’s why you should consider getting employee dishonesty insurance. Employee dishonesty insurance will cover your losses if an employee commits theft, fraud, social engineering, and other related crimes.

          Also read: Car Carrier Insurance: Cost & quotes from $11

          Source: https://amajon.asia
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