Do I Need Garage Keepers Insurance?

March 28, 2018

As an automotive business owner, it’s likely that you have a vehicle or vehicles that are in your care at some point in your service process. If you do, it’s a good idea to look into getting a garage keepers insurance policy. Your clients depend on you to keep their vehicles safe when they are being transported or kept by your business, and you surely have measures in place to make sure they are in the best care. However, accidents happen. That’s where garage keepers insurance policy can help protect both your client’s vehicles and your business. 

I Have Garage Liability Insurance, Do I Really Need Another Policy?

You may already have a garage liability policy and think that is enough to protect you, but there are distinct differences between the coverage of a garage liability policy and a garage keepers policy. Here’s why it’s important to have both: 

Garage Liability Insurance covers you in the event of:

  • Property damage caused by equipment owned by the business
  • Products manufactured or sold by the shop that cause damage to a customer’s vehicle
  • Third-party injuries
  • Liability claims like discrimination and employee dishonesty

Garage Keepers Insurance covers you in the event of:

  • Vandalism at your place of business.
  • Extreme weather
  • Theft
  • Fire
  • Other accidental damage to the vehicle

Does My Business Need a Garage Keepers Policy?

Garage keepers policies are recommended for any business that has vehicles in their care, custody or possession. These include: 

  • Service stations
  • Tow truck operators
  • Auto body shops
  • Detailing operations
  • Auto glass installers
  • Oil change and lube shops
  • Vehicle painting and pinstriping operations
  • Sound repair and installation shops
  • Emissions testing sites
  • Vehicle interior restoration shops
  • Businesses that use valet service

Next Steps

In order to make sure your business is fully protected, it’s important to review your policies and make sure you don’t have any gaps in coverage. Contact one of our agents today and we can help you make sure your business is protected!

Source: Trusted Choice

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