There are many types of vehicle related coverages available which can make it difficult to know that you have the right ones.
Do you have the right coverage?
Meadowbrook Insurance Agency can help you select the coverage you need for your business.
Available coverages include:
- Commercial Auto Liability
- Auto Physical Damage
- General Liability
- Garage Keepers Liability
- Employment Practices Liability
- Workers Compensation
- Umbrella/Excess Liability
What type of business should have Garage Keepers Coverage?
For any business that provides a parking service, it is imperative to have a garage keepers insurance policy. Examples would include restaurants or establishments that provide valet service, towing companies and auto mechanics. Basically, if your business parks, drives or transports automobiles, a garage keepers policy should be considered.
Examples when a Garage Keepers Liability Coverage would be needed:
- A car is broken into while being stowed in a tow yard; the garage keepers policy may cover the vehicle up to the policies limit.
- A car is being parked at a restaurant’s valet and the valet driver hits something in the garage while parking the vehicle. The garage keepers policy may help pay for the repairs needed on the vehicle up to the coverage amount.
What is On-Hook Towing Insurance?
On-Hook Towing coverage is a type of insurance policy that helps protect the towing business in the event that there is damage or vandalism while the car is being towed. Basically, on-hook towing insurance is self-explanatory; the coverage is needed to protect vehicles owned by someone else during the actual towing process while the vehicle is hooked.
Example when an On-Hook Towing Policy would be used:
A towing company is called to pick up a vehicle that will not start. In route the tow truck has to make a stop for gas and the towed car is damaged when pulling into the gas station by not correctly gauging the turn. In this case, the on-hook coverage could help pay to repair the customer’s vehicle.