Louisiana Garage Liability Insurance
Louisiana Garage Liability Insurance
Dealerships and Garage Operations such as repair shops, tire and lube and body shop need a special type of policy that covers operations involving vehicles. Most normal general liability insurance policies have exclusions when it comes to vehicles. That’s why insurance companies developed a policy type called…Garage Liability Insurance.
Garage Liability Insurance covers things like slip and fall, but unlike general liability the policy added coverage to vehicle liability. You can break the basic policy into three parts…Auto, Other than Auto and Other than Auto Aggregate.
Auto Liability
Auto Liability works like car insurance where it pays the claimant for bodily injury and/or property damage if the policyholder is involved in an at-fault accident. In the State of Louisiana the required limit is $85,000 combined single limit.
Other than Auto
Other than Auto covers like a general liability policy where it covers for slip and fall on the insured premise. This coverage level is the same as the Auto Liability at $85,000.
Other than Auto Aggregate
Other than Auto Aggregate is a cap on losses sustained and the coverage is double the Other than Auto coverage. If the Other than Auto limit is $85,000, then the Other than Auto Aggregate limit would be $170,000. It is important to realize that the Other than Auto is capped, not the Auto Liability.
What Type of Garage Operations do we Insure?
Used Auto Dealers
Collision Centers
Repair Shops
Franchised Dealers
Tire and Lube
Boat Repair
Tow Trucks
Collision Centers
Boat Dealers
Other Coverage Options
The standard Garage Policy is a liability only policy. There is no physical damage coverage for customers’ vehicles or dealership inventory. Since every Garage Operation is different we can customize the policy to meet the needs of the client.
Let’s say you’re the type of operation that fixes or maintains customers’ vehicles…
This type of operation is most common with Repair Shops, Collision Centers and Tire and Lube because they work on customers’ vehicles. In addition to the Garage Liability Insurance they would want to add Garage Keepers Insurance.
Garage Keepers covers a customer’s vehicle while in the care, custody and control. There are three types of Garage Keepers Insurance, but we will focus on the most common…Legal Liability.
Garage Keepers Legal Liability means the coverage only pays out when you are legally liable. Examples of this would be a vehicle falling off the lift, at-fault accident or similar causes of loss. This coverage option is the most affordable of all three Garage Keepers Insurance coverage options.
What if you are a type of operation that sells vehicles such as a Car Dealership?
Auto Dealerships that want to cover their inventory against loss such theft, collision or weather related loss would want to add Dealer Open Lot also referred to as Dealer Physical Damage. This coverage covers all the dealership inventory for physical damage. It is important to remember that in order for the loss of inventory to be completely covered you need to insure the lot limit to 100% of the inventory. If not, the insurance company could impose a co-insurance clause.
Can you have both?
If you are a Car Dealer that also has a repair and service department you can have both Garage Keepers and Dealer Open Lot.
Other Coverage Options Available
- Workers Compensation
- Commercial Auto
- Commercial Property
- Auto Dealer Errors and Omissions
- Uninsured Motorists
- Medical Payments
Barbee Jackson Insurance
Barbee Jackson Insurance is one of the country’s leading independent insurance agencies that specializes in Garage Liability Coverage. We have thousands of clients across the United States and will work with you to get the right coverage at the best price. Call today to speak to one of our Garage Liability Specialists (850) 389-2001