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| Protect Your Vehicle with Garage Keeper Liability Insurance |
You might have heard about the garage keeper liability insurance. Are you aware of the benefits of taking this type of insurance and who need this kind of insurance? If not then need not to worry, as all the details are given below. It is very much necessary for you to have detailed knowledge about garage liability insurance.
Why go for Garage Liability Insurance?
This type of insurance is meant for vehicles in your care at your business. The vehicles can be both non-franchised and franchised, and can be for motorcycle, an automobile, 18-wheeler, recreational vehicle, truck, or the trailer with cargo.
However, this insurance does not cover customer's cars left in your business's care in the parking area or garage. If you have this insurance, you can claim for damage to property regardless of fault or who was involved in the mishap. You can also claim for personal bodily injury of any person as long as it happens during business operations and is on the business property. With Garage Liability Insurance you get two insuring agreements: Who is insured and the limit of insurance, and both have notable differences.
You need a Garage keeper's Insurance separately in case of insuring customers' vehicles. Both of them are sold together as a package, thus ensuring that you are fully protected from any kind of situation or accident. Although they are sold together, you still have to sign the contracts separately, and if they are not offered to you automatically, you can ask about one or the other.
Who needs Garage Keeper Liability Insurance?
This type of insurance is needed by Gas Stations, Used Car Dealers who have to house several vehicles at a time, Auto Repair and Body Shops because of the volume of traffic these facilities face daily. Parking, Valet Lots, Car Washes, and Garages can also benefit from this type of insurance. Detailing Shops or Mobile Auto Repairs need this insurance because of the delicate nature of their work. Any business where a lot of vehicles are parked in a small area can benefit from Garage liability insurance.
What are the determining factors of my rates?
Your rates can be determined by several factors. It can be the type of business of operation you are into, the number of employees and or employee payroll size can also increase or decrease your rates. The territory are where you do your business can lower or raise the rates of insurance. If you have a lot of employees who need to be on insurance plan, the Acceptable Motor Vehicle Reports on all drivers can also give you increased rates. The rates can also be affected by the condition of holding space, requested limits of coverage, and security systems of the premises. As a whole, all these factors can lead to the increase or decrease of the rates of the insurance value.
Credit: articlesbase
