Garage Liability Insurance
Garage Liability Insurance The standard policy is designed to cover bodily injury and/or property damage that arises from a covered claim, such as a car accident from a test drive. The garage liability policy is split into two (2) basic coverage, Auto and Other than Auto.
Auto is liability coverage when you are driving the dealership inventory. Think of it as auto insurance. This coverage does not provide physical damage coverage to the dealership inventory. This coverage is liability to other for bodily injury and/or property damage.
Other than Auto provides a form of General Liability for the lot. If a client falls or slips on the lot, this coverage would help pay for any medical bills or to help with legal defense.
Auto Dealers & Repair Shops
- Franchised Dealers | Sales & Service
- Non-Franchised Dealers | Sales & Service
- Used Auto Dealers
- Collision Centers
- Repair Facility
- Detailing and Car Washed
- New Ventures Accepted
Other Optional Insurance Coverage
- Physical Damage Blanket Dealers’ Open Lot up to $2 Million Dollars – Inventory coverage for both new and used inventory including theft and windstorm.
- Garage Keepers – Protects customer’s vehicle when you are keeping it at a covered location.
- Scheduled Auto’s – Liability and/or physical damage for vehicles owned by the business.
- Business Interruption – Protects your business from loss of income in the event of a covered loss.
- Workers Compensation – Wage replacement and medical benefits to employees injured on the job.
- Errors and Omissions – Protects your business from claims caused by negligent acts, errors, or omissions including.
- Security Interest –Pays for damages for failing to specify the interest of the lienholder or legal owner.
- Truth in Lending –Pays for damages that result from an insured failing to complete the loan paperwork correctly, which causes the borrower to have different terms than they agreed to.
- Odometer and Prior Damage Defense –Payment of defense costs may be provided if a suit is made pertaining to odometer reading or prior damage disclosures.
- False Pretense Coverage – Protects against losses due to voluntarily parting with a vehicle If induced to do so by any fraudulent act, scheme, trick, or purchasing the vehicle from a seller who did not have legal right to sell.
- Diminished Value Coverage – Allows you to recover the diminished value of a vehicle after a covered loss.