Any business that repairs, tows, or otherwise handles vehicles owned by customers needs the protection of garage liability insurance as well as a commercial liability policy. A general liability insurance policy rarely covers damage to vehicles that are not owned by the policyholder. Garage liability insurance protects the business owner in the event an incident occurred on the premises.
Basic Coverage
A garage liability insurance quote for basic coverage also includes options should there be an injury in the shop. If a customer should slip and fall while in the shop, the company that provides the garage liability insurance will pay for medical bills up to the limit set by the policy. Agents or brokers, when quoting, will include coverage for liabilities that arise from the operation, such as discrimination lawsuits and employee theft.
Additional Coverage
Garage liability insurance can be extended to cover products that are sold by or produced by, the shop. The coverage includes property damage that results from the use of faulty parts. Claims of this nature are subject to limits set by the policy. In the event shop employees take the vehicle off company premises, auto insurance coverage is also needed. In most cases, this cover is included in the liability insurance coverage but may require an endorsement, and an additional premium must be paid.
Garage Keepers Insurance
This insurance is different from the liability policy. It covers property damage to vehicles that were left in the care of the shop by owners. This cover is not included in a standard garage liability insurance policy.
A garage liability insurance quote will vary. The premium is based on the number of people working in the shop, the type of business, the location of the business, etc. Like most insurance, the premium varies based on the deductible and coverage. Visit Boardwalk Insurance Group, LLC for more info.
