In 2019, Massachusetts had $8,060,079,000 in commercial insurance claims paid. The right protection could save your business. A garagekeepers policy will cover your liability when you operate a company in the auto service industry.
An independent insurance agent can help find coverage for a fair price with there many carrier options. They do the shopping for you at no cost so that you get the best rates around. Connect with a local expert to start saving today.
What Is Garagekeepers Insurance?
In Massachusetts, if you own an auto repair shop, tow truck company, dealership, and more, you will need specific coverage. A garagekeepers policy protects you from a loss when you service customers' 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 will 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?
In Massachusetts, your commercial insurance premiums will vary. Every carrier reviews your data and outside factors to figure your customized costs. Garagekeepers insurance will have to be quoted for exact pricing. 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
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What Does Garagekeepers Insurance Cover?
Your Massachusetts operation could need garagekeepers insurance. There are roughly 669,224 small businesses in Massachusetts currently. Take a look at the kinds of industries garagekeepers insurance would apply for.
- 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
- Natural disaster
Garagekeepers Insurance Limits
How much garagekeepers coverage does your Massachusetts commercial policy need? The limit you select will be based on the maximum value of cars you have at any given time. Garagekeepers will pay for customers' cars you have in your care, custody, and control.
So, if a loss like a hail storm totals your entire lot full of customers' cars, you'll be responsible for the damage without this policy. A garagekeepers policy could save you big money in the event of a loss. One claim could be hundreds of thousands of dollars if you have enough cars at one time.
What Does Garagekeepers Insurance Not Cover?
Just like any Massachusetts commercial insurance policy you own, exclusions will apply. Garagekeepers insurance is a very specific coverage and will have exclusions. Some of the most common are listed below.
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 customers' vehicles
- Parts & labor
How to Connect with a Massachusetts Independent Agent
Your commercial insurance coverages will vary from industry to industry. Each Massachusetts business is unique and will have its own set of policies that apply. Garagekeepers insurance is a particular policy that several different companies need.
An independent insurance agent can help you find coverage for an affordable price. With their network of carriers, you'll have options. Get connected with a local expert on TrustedChoice.com to start saving today.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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