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!