A Garage liability insurance policy is coverage for businesses that sell, service, repair, store, and park motor vehicles. Without insurance coverage it could mean the end of the business enterprise in addition to placing the owners into a financial catastrophe that’ll be tough to recover from. It helps to protect not only the proprietor but the business enterprise itself. Business owners should have an insurance policy in effect from the day you open for business and make sure that it remains in effect at all times.
Garage liability insurance protects you particularly for claims that could be brought against you for accidental injuries sustained on your property or for finished work that may be discovered to be negligent or improperly completed. Additionally, it may protect you against a number of other issues. It will supply protection for your premises and your operations, and will also protect any motor vehicles that are owned by the company. It doesn’t, however, include coverage for your customer’s vehicles while they’re on your premises. That’s a protection that is offered under your garage keeper’s liability insurance. Garage keepers, is a coverage on the garage liability policy that covers damage that you might do to other individual’s vehicles that you may be repairing.
A Garage insurance policy is a combination Business Auto Policy and Commercial General Liability Coverage Policy. This plan covers two liability exposures: “Garage Operations and covered automobile exposure for bodily injury and property damage liability claims, and covered pollution cost or expense for auto exposure only.
In the event you don’t have the proper protection, a single liability claim could put you in debt. Make sure your insurance policy is structured especially for you and the challenges you encounter as a vehicle dealer and garage owner.
Whether or not you as a business owner state that you just don’t operate the customer’s vehicles, there exists a high likelihood that sooner or later they are going to drive the vehicle from its parking area into the repair area. While driving the vehicle, if any person, the building, or another vehicle is struck, a Commercial General Liability Policy would not protect against this occurrence.
Insurance is a vital purchase no matter if you are a sole proprietor, or a corporation. It is vital for protecting your business resources and success and being sure that you always have alternatives. Oftentimes the insurance policies available can work with any budget and insurance providers tend to be more than interested in having you as a client. All you have to do is buy the right policy for your situation. Finding the right policy for a used car lot, an auto body shop or a repair shop is easier than you imagine.