Coverage Name: Garage Keepers
What it Does: Garage keepers coverage is a useful addition for any buswiness that uses a tow truck or stores customers vehicles on their property for any period of time. It covers against damages to a customer's vehicle while parked or stored at a services facility, including a tow yard, parking garage, service station, repair shop or any type of business that deals with customer's cars.
Who Needs It? Service stations, mechanics, body shops, towing companies, auto dealerships--any business that employs any type of on-hook service or stores customer vehicles on their premises can benefit from garage keepers coverage added to their policy.
Optimal Levels: Optimal levels would be around the cost of the average incident related to customer vehicle damage. So typically, an amount maximum like $3,500 per vehicle incident will be established. There's also a deductible per vehicle typically in the mix, so that might be $500 per incident.
Garage keepers is a great addition to any commercial insurance policy belonging to businesses that operate tow trucks, car carriers and auto transportation vehicles, or offer any kind of service where they either transport a customer’s vehicle or store it in their facilities for any period of time.
Towing yards, mechanics, tow truck companies–all of these types of businesses can benefit from carrying garage keepers.
Garage keepers protects customer vehicles in the event of accidents while their vehicle is in your possession. Limits are typically set to an amount per incident, such as 2-3 thousand dollars max, and a deductible for claims is typically associated per vehicle as well.