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Archive for March 2014

Garage Liability Insurance vs. Garagekeeper’s Insurance 4.33/5 (86.67%) 9 votes

If you own a tire store or an auto shop, it’s in your best interest to understand the differences between garage liability insurance and garagekeeper’s insurance. The main difference hinges on company owned versus customer owned property. Garage liability insurance covers the shop’s operations, vehicles and tools, whereas garagekeeper’s insurance covers damage to customer’s vehicles. You’ll need both if you want to cover yourself and your shop from huge losses from legal battles.

Garage liability insurance is a must for owners of auto repair shops, a tire stores,  car dealerships, etc (essentially anyone who’s living depends on cars), but don’t make the terrible mistake of thinking that damage to a privately owned vehicle will be covered by garage liability insurance. In order to properly cover a customer car, you’ll need a separate garagekeeper’s package. Do note, however, that many garagekeeper coverage packages omit loss to aftermarket electronics.

In today’s increasingly litigious society, insurance agencies are becoming much more strict when dealing with guidelines for loss prevention. They do this to cut the costs associated with environmental damage to private cars.

If you own a shop that’s considering a garage liability insurance or a garagekeeper’s insurance package, it’s imperative that you sign up every single employee and executive and mark them down on the policy. Otherwise, you could be in for a terrible wake up call. Keep sharp tabs on all of your drivers and make sure that alcohol abuse isn’t an issue. A driver with a DUI could pose some pretty serious consequences for you and your company outside of being suspended from all driving activity.

There are a few details to not miss when looking for a garage liability insurance or a garagekeeper’s insurance package. Make sure that there’s plenty of lighting around the place, especially at night, to prevent any unfortunate mishaps in the dead of night. Next, keep the floors within the shop clean and a have nice exterior paint job for aesthetic purposes. Similarly, well designed landscaping can help too. When you have a shady looking business operation, finding an insurance company that will offer you a policy may be tough. That’s why it’s in your best interest to keep things looking nice. Appearance is everything and it can make or break your attempt to find coverage.

If you’re in the market for a highly qualified garage liability insurance or garagekeeper’s insurance agency, look no further than the Boardwalk Insurance Group. Their experience in the industry combined with a passion for customer service put them at the top of the insurance market. Check them out today to see what the fuss is about!

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Everything You Need to Know About Business Liability Insurance 4.25/5 (85.00%) 8 votes

There’s no doubt that you’ve heard it before: every budding business needs liability insurance. They come in different shapes and sizes, but there’s a few things to consider before jumping in.

Let’s start off with what business liability insurance is. It protects the assets of a company and pays for medical obligations in the event of damages. These damages could be anything from personal injury on the job to property damage. It’s vast and can be pretty cumbersome to deal with alone, so if business liability insurance is something you want to consider, make sure you hire a team with the experience to help you out when you or your company is in a bind.

When considering whether or not to look into business liability insurance, take a look at the costs of a premium versus the cost of a court case. In today’s litigious society it’s becoming increasingly more important to protect yourself from the number of harms that are out here in the world. Sure, paying premiums will cost you some money, but the relatively low cost of these premiums ($750-$2,000) should be enough to convince you that possibly losing thousands and even millions of dollars in a heated legal battle just isn’t worth it.

Next, different businesses have different risks. For example, an architectural firm will need a significantly higher level of coverage than a web development company. Thus, the possible harms associated with your company will ultimately determine the coverage package you might want to buy into. Location is also a large factor- so make sure to include that in your discussions.

Finally, once you’ve bought an insurance plan, it’s imperative that you understand exactly how it works. Your business liability insurance policy will highlight the maximum payment the company will put forth as a result of a settlement. For example, if your coverage is willing to max out at $400,000, then you’re responsible for paying any fees in excess of that amount, regardless of what they are.

Now if you operate a highly risky business operation, a low maximum coverage payment may not be your best bet. Umbrella insurance essentially raises the maximum bar on your liability package payout limit.

Regardless, you need to do your own research to determine what plans and business liability insurance packages fit you and your company’s budget. Premiums may be expensive, but it’s worth the small change in relation to the potential mudstorm that could come your way otherwise. The Boardwalk Insurance Group sets itself apart from other generic liability insurance groups with the wealth of information they’ve accumulated from years in the business. Their highly qualified agents will set you up with liability coverage that suits your tastes and will keep you updated throughout your stay as a client. Check them out today and see what all the hype is about!

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