Beimdiek Blog

Do I Need a Garage Keepers Policy?

Business owners who store customer’s cars, boats, campers…etc need this important coverage to protect themselves!.If you have custody of your customer’s property and something happens, you could be held legally liable!

So what is Garage Keepers and what does it do?

Garage Keepers really consists of two coverage’s designed to work together. One is the Garage Keepers Coverage and the other is a Garage Keepers Liability. These coverages work together to fill the gaps that may exist in the liability portion of the policy. Without making this terribly complicated, let’s look at a couple common scenarios we often see:

Scenario One: You are a tow truck company and you are called to haul a customer’s vehicle to the local repair facility but it’s late in the evening and the repair shop is closed, so you store the vehicle at your business overnight. During the night someone breaks in and vandalizes the vehicle. A properly written policy would assist the customer in getting their car repaired.

Scenario Two: You are a service facility, your employee takes a customer’s car for a test drive. While on the test drive he hits another vehicle and causes injury to another person and damages their vehicle. With a properly written policy your coverage would address both the customer’s damaged property and the property damage and injury of the other party.

Scenario Three: At your shop you have 5 customer’s vehicles. A fire breaks out over night and destroys your entire facility and contents. Normally this type of disaster would put someone out of business, but with this essential coverage you can rebuild your business and more importantly maintain your reputation!

For more information about considering this coverage contact an expert at Beimdiek. We can help you obtain the right policy and eliminate gaps in coverage.

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