Protect Your Auto Service Company
Garage keepers insurance is an add-on (also known as an endorsement) that you can add to a business owners policy or BOP (also called property & liability insurance) or other types of insurance. Garage keepers insurance provides protection in situations where a customer’s vehicle is under your care, custody, control, or possession. If the car is damaged during that period, the endorsement can protect your business.
Garage keepers insurance is not the same as garage liability insurance. The two are explained below.
Many Types of Auto Service Businesses and Professionals Need Garage Keepers Insurance, Including:
- Auto body technicians
- Auto paint companies
- Auto salespersons
- Auto repair shops
- Automotive equipment installers
- Car mechanics
- Diesel mechanics
- Master mechanics
- Mobile car mechanics
- Sales associates
- Service managers
- Tire technicians
- Transmission technicians
- Van conversion companies
- Vehicle inspectors
Garage Keepers Insurance vs. Garage Liability Insurance
The terms "garage keepers insurance" and "garage liability insurance" are similar, but they refer to different coverages.
Garage keepers insurance protects your business if you or your employee damages a customer vehicle. Garage liability insurance is designed to cover bodily injuries or property damage caused by the operation of a garage business. In other words, a garage liability insurance policy is not focused on customer vehicles you have in your possession, but on your operations more generally.
For example, imagine that your mechanic is working on a customer’s car, takes it out for a test drive, and is at fault in an accident that injures another driver and damages their vehicle. Garage keepers insurance can cover damage to the car your employee is driving (your customer’s vehicle), while garage liability insurance can cover costs associated with the accident and resulting liability (settlements, judgments, court costs, etc.).
What are the Different Types of Garage Liability Insurance?
At biBERK, we offer three types of garage liability insurance for small business owners like you. Depending on the location of your business and other factors, certain types might be better for you than others.
General Liability Insurance
Also known as commercial liability insurance, a general liability policy covers damages and legal costs associated with injury claims by customers and other people you don’t employ, damage to other people’s property that was caused by your business, and medical costs associated with these incidents. It also covers libel, slander, and copyright infringement. Plus, there are endorsements you can add to customize your policy, including cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability.
General Liability chevron_rightUmbrella Insurance
Every liability insurance policy you purchase has a maximum value that it will cover in the event of an incident. Umbrella insurance adds another layer of protection. It can cover costs that exceed the limit of another biBERK liability policy, subject to its own limit. Without it, you may be responsible for anything over your policy limit. Business liability suits can easily exceed the actual value of many small businesses, so we highly recommend an umbrella policy to protect your company.
Umbrella chevron_rightBusiness Owners Policy
Also called property & liability insurance, a business owners policy (BOP) combines general liability insurance with coverage for your company’s property. You’ll get protection for the building you own, space you lease, and any property needed to run your business, while also receiving coverage for things like business interruption. This can replace lost income and cover other costs associated with getting your business back up and running after suffering property damage, such as the use of a temporary location. You can also tailor your BOP with add-ons including cyber, hired and non-owned auto liability, employment-related practices liability, and employee benefits liability.
Business Owners chevron_rightSmall Business Insurance Experts
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