In Indiana, there are roughly 512,348 small business owners. When you own an auto repair shop, dealership, or more, you will need industry-specific coverage. Garagekeepers insurance is one that most car service operations will need.
An independent insurance agent can review your policies at no cost for accuracy. Since they work with several carriers, you'll get the best prices and coverage in town. Connect with a local expert for tailored quotes.
What Is Garagekeepers Insurance?
You may never have heard of garagekeepers insurance before. But it is an essential policy for your car business. It will pay for any losses arising out of customer vehicles. Check out what this commercial insurance policy covers:
- Garagekeepers liability insurance: Pays for the replacement or repair of your customers' vehicles. Any damage that may occur while they are in your care, custody, and control would be included under this policy. If you run an auto repair shop, this coverage will apply when you fix a customer's car or take it for a test drive.
How Much Is Garagekeepers Insurance?
Like any commercial insurance policy, your prices will vary. The cost of garagekeepers coverage will be based on various risk factors. Check out how carriers determine your garagekeepers insurance premium below:
- Your experience level as a business owner
- The type of business you run
- The amount of coverage you would need
- The value of customer vehicles at any given time
- Safety procedures in place for accessing customer vehicles
- Your loss history
- How long you've been insured
What Does Garagekeepers Insurance Cover?
Any car-related industry in Indiana will usually need garagekeepers insurance. The standard operations to be insured by each policy will be customized to the company. Take a look at the types of businesses garagekeepers insurance would apply to:
- Tow truck operators
- Quick lube shops
- Auto glass shops
- Auto body shops
- Auto repair shops
- Valet services
- Auto emissions sites
- Auto detailing shops
- Auto painting shops
- Auto sound installers
The types of damage that garagekeepers insurance will apply to:
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What Doesn't Garagekeepers Insurance Cover?
Like any other commercial insurance policy in Indiana, exclusions apply. There are several things a garagekeepers policy can protect. It's important to know what it doesn't insure.
What your garagekeepers insurance won't cover:
- Bodily injury
- Property damage of a non-customer auto
- Business property
- Business equipment
- Inadequate workmanship
- Contents of your customer's vehicle
- Parts & labor
Garagekeepers Insurance Limits
You'll be able to preselect a limit of insurance for your garagekeepers policy. The number and value of customer vehicles in your possession at any given time will affect the coverage amount. There will be a maximum limit for a claim that may occur.
Indiana garagekeepers insurance works off a worst-case scenario. You have to be prepared with the total amount of coverage needed if a loss wipes out your entire lot. That means all the vehicles in your care, custody, and control need to be included.
How to Connect with an Indiana Independent Agent
If you're searching for the best commercial insurance in Indiana, a trusted adviser can help. There are specific coverages necessary when you own a car service operation. Garagekeepers insurance is often used in these types of industries.
An independent insurance agent can help you find a policy for an affordable price. They work on your behalf at no cost and can do a full coverage review. Connect with a local expert on TrustedChoice in minutes.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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