Did you know that you can access the Travelers Garage Pac product? But just what types of exposures does a garagekeepers policy product cover? Here is what the Virtual Risk Consultant (iiaba.net/VRC) summary of garage owner's exposures has to say:
Description of operations: Automotive garages can offer a wide variety of mechanical services, from engine repair to tune-ups. They may specialize in a specific type of repair, such as transmissions or brakes. Normally, auto repair shops do not specialize in body work or painting operations, but they will perform those when necessary and incidental to other repairs. Other operations may include the retail sales of automobile accessories and tools. Some repair shops are a part of a gasoline or diesel fuel sales operation.
Garage keeper's exposure comes from the physical damage losses to customers' vehicles while in the repair shop's care, custody and control. Lots must be well lighted and chains should be in place to prevent transport. Fences and other security also may be appropriate.
Garagekeepers Liability: Garagekeepers Liability coverage applies to damages for "loss" to a "customer's auto" or "auto" equipment left in the insured's care while the insured is attending, servicing, repairing, parking or storing it in your "garage operations". This coverage is available on either a Direct Primary or Legal Liability basis. Both Comprehensive and Collision must be written, but different limits may apply within those coverages.
Direct Primary coverage, losses are paid on a primary basis without regard to the named insured's legal liability. There is no requirement that the vehicle owner first try to collect under his or her own insurance.
You can learn a lot more about Garagekeepers exposures as well as hundreds of other classes of business by using the Virtual Risk Consultant. It is a great tool that provides you with a wealth of risk management and sales tools. Check it out.
Garage Pac is not available in Louisiana, Florida, or Texas. Learn more about this product at www.bigimarkets.com.