Insurance Info

There are certain commonalities and dissimilarities between garage insurance and garagekeeper liability coverage. The key commonality, and possibly the only similarity, is that the two coverages are needed in the establishments that are associated with using vehicles. The dissimilarities are several, and to understand the differences we will begin with defining both terms.

Garage Liability. This is necessary to provide protection for bodily injury and property damage resulting from garage activities. Garage operations refer to actions connected with ownership, maintenance, and use of sites for garaging businesses. Garage Liability encompasses two major coverages:

1. Garage Liability – Covered Auto: This is probably the most critical coverage that a garage businesses must have. Garages have different auto liability exposure, and for that reason they must have to have different types of insurance. The insurance division came with a Symbol System for Auto Liability. This is a brief overview: Continue reading ‘Garagekeepers Legal Liability Vs Garagekeepers Primary Liability Insurance’ »

Most of the insurance companies that offer coverage to towing operations offer the garage- keepers coverage on a legal liability form. Garage-keepers coverage is purchased to cover the non-owned vehicles that are in the care, custody, and control of the towing operations. This coverage will exclude vehicle that are being towed since there is additional coverage called on hook coverage available for that.

There are two types of garage-keepers coverage that are available. It can be purchased on a legal liability bases or direct primary. Almost all policies that are written are done as legal liability protections. What this means is that the vehicles will be covered in the event that the insured is negligent in some way making them legally liable for damage or theft of the non-owned vehicles.

A good example of insured negligence would be if the business owner or employee had left the lot for the day. If while leaving the storage lot they had forgotten to lock the gate behind them and somebody had damaged one of the vehicles that they were storing. This would be considered a neglect issue by the insured causing them to be legally liable for the damages that we caused to the vehicle owner. Continue reading ‘Garage Keepers Legal Liability’ »