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Archive for April 2014

All About Garage Liability Insurance 4.33/5 (86.67%) 3 votes

Owning an auto shop is difficult enough with the endless stream of cars, equipment and employees hurrying about, but what really is cause for concern is insurance. Especially in today’s saturated insurance market, finding a quality company with the right coverage options can be a nightmare. Nobody wants to wake up to a huge lawsuit with mounting medical fees without having the proper insurance to bail you out- which is why insurance can ensure the stability of a company. Garage liability insurance, for example, is a type of insurance policy that covers auto shops in case of on site accidents/damage to employees or company owned equipment.

Despite the name, a wide assortment of business owners need garage liability insurance to save themselves from crippling legal battles. Any business that operates by taking care of cars in any fashion will need to purchase some form of garage liability insurance. These include but are not limited to:

  • Auto Body Shops
  • Detail Shops
  • Performance Shops
  • Service Stations
  • Car Audio Shops
  • Car Dealerships

Garage Liability Insurance will cover a large assortment of damages, but only garagekeeper’s insurance will cover individually owned property. Regardless, garage liability insurance will generally cover:

  • Fire Damage
  • Theft/Vandalism
  • Slip and Fall Accidents
  • Weather
  • Off/On Site Collisions

Once you’ve highlighted the need for garagekeeper’s insurance, you’ll need to know what exactly to look for when purchasing a coverage option.

  • Limits – This covers the maximum amount the insurance company will pay in the event something disastrous happens. The higher the maximum, the higher the premium.
  • Deductible – Before the insurance group will agree to pay for damages incurred, you’ll have to pay a deductible for each vehicle affected. This is negotiable so make sure you set a value that you have the capability to pay.
  • Past History – Each company operates differently, but premiums will fluctuate based on a variety of criteria. This not only includes deductibles and limits, but also past history, security protocol, and employee history.

So it doesn’t matter if you own an auto shop or a car dealership, shopping around for garage liability insurance is a must.

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What is Garage Liability Insurance/Garagekeeper’s Insurance? 4.50/5 (90.00%) 2 votes

Businesses in the auto field all need insurance policies to prevent any legal, financial, or medical issues. Whether it’s a tire shop or an auto repair store, buying garage keeper liability insurance and/or garagekeeper’s insurance policies can make a huge difference in the longevity of the company.
•    Basic Garage Liability Insurance Coverage- Basic garage liability insurance generally covers medical injuries sustained/company owned property damage within the confines of the shop. This includes slip and fall incidents or tool malfunctions and coverage extends until the policy’s coverage ceiling.

•    Additional Coverage Options- Outside of typical coverage options, garage liability insurance can cover auxiliary issues like implications from faulty machinery, faulty products and off-site company vehicles. Naturally, these issues are only covered if the coverage limit matches with the total damages.

•    Garagekeeper’s Insurance- What many don’t know is that garage liability insurance won’t cover all types of damages that occur within the confines of the shop. Without garagekeeper’s insurance, the company would have to pay out of pocket for any damages to individually owned cars while in the shop. Whether it is a fire or damage from maintenance, garagekeeper’s insurance is an absolute necessity to purchase in conjunction with garage liability insurance.

•    Pricing- Pricing is ambiguous from company to company. Usually, insurance firms will use a series of metrics to evaluate premiums- driving records, past incidents, coverage options, business type and security. Most good insurance companies will offer a variety of services and options to suit your needs. For example, an auto shop would need to purchase garage liability insurance with some additional options plus garagekeeper’s insurance in order to cover all possible harms.

The Boardwalk Insurance Group has built a reputation on its knowledge, happy consumer base and vast experience. If you are in the market for a quality insurance company, look no further than Boardwalk.

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Top Insurance Myths

Top Insurance Myths 3.33/5 (66.67%) 3 votes

Whether you’re thinking of purchasing life insurance, planning to shop insurances for a small auto shop or getting into a massive litigation battle about an injury on the job, one thing is for certain: today’s insurance market is highly convoluted. With so much jargon and wording, it no surprise that not every completely understands how the system works- but it is funny to overhear questions like “why do I need life insurance?” as you walk around the town. This blog post is here to dispel some of those falsities, rumors and untruths that you may have heard about insurance market:

Myth #1: Every Issue Requires Insurance

The point of purchasing insurance packages is to protect you from a financial, civil, legal or medical disaster in the event that the price may be out of your reach. If the payment can be settled out of market or out of court, then there’s no need to file a claim for something minor- otherwise, you could see your premiums begin to skyrocket if the insurance is used irresponsibly.

Myth #2: Everyone Needs Life Insurance

The basis behind this claim is this: if you’re living, then you need to protect your life. News flash- life insurance can’t protect you from being hit by a truck. What it can do is set aside funds and property for important parties in the event that something terrible (like getting hit by a truck) happens. If for instance, you have no immediate family, then indeed, life insurance may be unnecessary.

Myth #3: I Don’t Need Flood Insurance

Unless you live in Arizona or drier parts of California, having a decent flood insurance package can be the difference between a lovely home and a devastated pile of rubble. Obviously the latter’s occurrence is more of an anomaly, it can still happen, even if you live in an area not particularly prone to flooding.

Myth#4: Social Security Will Cover for Potential Disability Insurance

In today’s unraveling social security market, don’t assume that benefits are coming your way any time soon. Since not everyone qualifies for social security benefits, a disability insurance package is something you should consider.

Myth #5: I’m Healthy So I Don’t Need Health Insurance

This myth has the most far reaching consequences of them all. Usually when healthy people defer from insurance (Obamacare has stymied this by instituting a defer tax), they show up at the hospital when their situation is critical (expensive) and unintentionally spread the costs of service across the entire risk pool.

Regardless of what type of insurance you’re looking at, you need a quality insurance firm to take care of you, your family or your company. The Boardwalk Insurance Group has an excellent track record with an experienced staff and a wide client base. Check them out today to see what all the hype is about!


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