Missouri Garagekeepers Insurance

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Missouri Garage Keepers Insurance

In Missouri, $7,615,718,000 in commercial insurance claims were paid in 2019. The right coverage for a loss could save you thousands of dollars in out-of-pocket expenses. A garagekeepers policy will help cover your liability when you own a car service business.

An independent insurance agent can find protection that fits your budget. Since they work on your behalf at no cost, they do the shopping for you. Connect with a local adviser for tailored quotes today.

What Is Garagekeepers Insurance?

If you own a car repair shop, tow truck company, dealership, and more, you will need specific coverage in Missouri. A garagekeepers policy will insure your risk when you service 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?

Every commercial insurance policy will have a unique premium. Exact pricing for your Missouri garagekeepers policy will have to be quoted. Every carrier reviews your personal data and outside factors to figure out your customized costs. Check out how carriers determine your garagekeepers insurance expense 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 Missouri operation may need garagekeepers insurance. Several small businesses could fall into the category of businesses needing this coverage. Take a look at the kinds of industries 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:

Garagekeepers Insurance Limits

Garagekeepers insurance will help pay for replacement and repair for damage to customer vehicles you have in your care, custody, and control. That being said, how much coverage do you need to account for on your policy? The limit will be based on the maximum value of cars at any given time. 

If a loss like a natural disaster takes out your entire lot, you'll be on the hook for the expense. This could be hundreds of thousands of dollars in damage. A garagekeepers policy will help pay the cost when a claim occurs.

What Doesn't Garagekeepers Insurance Cover?

Your Missouri garagekeepers policy covers a specific need. Like any other commercial insurance protection, exclusions will apply. 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 customer's vehicle
  • Warranties
  • Parts & labor

How to Connect with a Missouri Independent Agent

In Missouri, there are 532,277 small businesses. If you're one of them, you'll want adequate protection for all the what-ifs. Garagekeepers insurance will help pay for a loss when you keep customer vehicles as part of your operation.

Fortunately, an independent insurance agent can find policy and premium options. They work with multiple carriers so that you get the best coverage and rate in the area. Connect with a local expert on TrustedChoice and start saving. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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