Tennessee Garagekeepers Insurance

Your Guide to Tennessee Garagekeepers Insurance

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Tennessee Garage Keepers Insurance

In 2019, Tennessee had $6,317,565,000 in commercial insurance claims paid alone. The right coverage for your business insurance can be challenging to find if you're not a licensed professional. Garagekeepers coverage is used if you own a business in the car service industry. 

An independent insurance agent can help you find a policy that fits your needs and budget. They do the shopping for you so that you save time and premium dollars. Connect with a local adviser for custom quotes. 

What Is Garagekeepers Insurance?

If you own an auto repair shop, dealership, and more, you may need garagekeepers liability insurance. This will protect your finances when cars in your possession become damaged or destroyed. Check out what this commercial insurance policy covers.

Garagekeepers liability insurance: Pays for the replacement or repair of your customer's 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 in TN?

The cost of any commercial insurance policy will vary. There are several factors insurance companies review before setting your 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

What Does Garagekeepers Insurance Cover?

Garagekeepers insurance is broad industry-wide. It will spread across a number of business types. 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

  • Fire
  • Theft
  • Vandalism
  • Natural disaster
  • Collision

Garagekeepers Insurance Limits

The limit will be based on the maximum value of cars in your care, custody, and control at any given time. When you have a dealership or auto repair shop, these values could be significant. In order to safeguard your Tennessee business from a large financial loss, consider garagekeepers insurance.

If a natural disaster or other catastrophe wipes out your entire lot, you could be on the hook for a lot of damage. Hundreds of thousands of dollars are easily reached when you have multiple cars. Review your policies for accuracy with a trained professional.

What Does Garagekeepers Insurance Not Cover in TN?

Tennessee garagekeepers insurance is very specific coverage. Some exclusions apply just like any other commercial insurance policy. 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' vehicle
  • Warranties
  • Parts & labor

How to Connect with a Tennessee Independent Agent

In Tennessee, there are 603,310 small businesses in operation. When you're trying to find the best coverage, there are numerous policy options. Garagekeepers insurance can be confusing if you're not a licensed professional. 

An independent insurance agent can help with coverage and premium options so that you get the best policy around. They work with several carriers and do the shopping on your behalf at no cost. Connect with a local expert on TrustedChoice.com for custom quotes. 

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TrustedChoice.com Article | Reviewed by Jeffrey Green

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