Garage Liabilities and Why You Need It

You might wander what Garage Liability Insurance is for. Garage Liability Insurance covers any vehicles in your care at your business. These vehicles can be both franchised or non-franchised, and can be for an automobile, truck, motorcycle, recreational vehicle, 18-wheeler and its trailer with cargo. However, it does not cover customers' cars left in your business's care in the parking lot or garage. Garage Liability Insurance covers claims of damage to property regardless of fault or who was involved, and personal bodily injury of any person as long as it happens during business operations and is on business property. There are two different insuring agreements with Garage Liability Insurance: Who is insured and limit of insurance and there are differences in each that are notable.

In the case of insuring customers' vehicles, you need Garage Keepers' Insurance. They are usually sold together as a package so you are fully protected from any kind of accident or situation. Even though they are usually sold together, you still have to sign separate contracts and may have to ask about one or the other if it is not automatically offered.

Who needs this kind of insurance? Gas Stations definitely need it. Used Car Dealers have to carry several vehicles at a time, so they definitely need it. Auto Repair and Body Shops because of the volume of traffic they face daily. Car Washes, Parking and Valet Lots and Garages also benefit from this insurance. Mobile Auto Repair or Detailing Shops because of the delicate nature of their work. Tire Sales Dealers either used or new. Used Motorcycle, Large Truck, and RV Sales also need this insurance, including the service of these vehicles. Pretty much any business where you keep a lot of vehicles in a small area can benefit from Garage liability insurance.

What are the determining factors of my rates? Generally your rates are determined by several factors. First, the type of business or operation you run can affect your rates. The number of employees and/or employee payroll size can increase or decrease your rate. The territory area you do business in can raise or lower your rates. Acceptable Motor Vehicle Reports on all drivers can give you increased rates if you have a lot of employees who need to be on the insurance plan. Safety of vehicles and how dangerous they can be. The condition of holding space, security systems of premises, and requested limits of coverage all can affect your rates as well.

I hope this article explained Garage Liability Insurance and why your business needs it! Have a great day and stay safe on the road of life. You never know where it may take you, so always be prepared.

What Are the Different Types of Auto Insurance Policies?

What is an auto insurance policy and What will an car insurance policy cover? car insurance service offers protection to the driver and passengers in the event an accident occurs. But it is up to you to choose the level of protection you will get.

What questions are you to ask your auto insurance service provider when it comes to auto insurance matters?

in this article, we would discuss on what are the different types of auto insurance policies? we would provide them in details so that when you read through the end you will have knowledge on the different types of car insurance policies.

Types of auto insurance policy

Third party or Liability insurance - This is often the lowest form of auto insurance policy offered by auto insurance service providers. This is the basic insurance policy you can have, if you got involved in an accident, and after investigation it was proved to be your fault, the auto insurance service provider will pay all the damages to the other party of the accident. The cover you can get from auto insurance service provider is usually set beforehand. There is a basic set maximum amount they will pay you in case you got involved in an accident.

For instance, the agent can agree on a $10000 coverage per individual for bodily injury and or $40000 coverage in bodily injury and choose $10000 in property damage sustained in the accident. You need to confirm from your auto insurance service provider what they will cover and what the limits are. Some insurance companies might offer you a very low premium only for you to realize that your cover is minimal and unrealistic. Collision and comprehensive insurance coverage -

In a simpler term, comprehensive insurance coverage offers you protection in case you got involved in an accident and are proven to be responsible for the collision the insurance provider will pay for the repair of the vehicle.

But it doesn't appear simple as you may think, the car insurance service provider will almost always have the final say on the amount to be paid out, so if it is cheaper for them to give you the market value for the car, then they will most definitely do it.

You may have the belief that your car is worth $10000.00 but the real market value of the car may be $5000.00. This is a common scenario. So if it happens that the real value of the repair of your car is more than $5000.00 then the insurance service provider will simply pay the real value of the car.

you have to make sure your auto insurance service provider is not in full control of the real market value of the car, normally an organization like the AA will always provide an impartial market value.

concerning third party insurance policy, the insurance service provider will almost attempt to limit the amount they will pay out to you, but in general terms, comprehensive insurance policy will always have a higher limit.

Recreation Vehicle -

A recreation vehicle often requires its own insurance, a Recreation vehicle insurance is quite different from the basic auto insurance. You should not assume that because your car has a comprehensive insurance, so is your recreation vehicle as well.

Other Types of auto insurance

Medical, Personal Injury protection and no fault cover - This insurance will cover the medical expense for you and your passengers in case you got involved in a collision.

The insurance service provider under the no fault cover insurance policy will pay you regardless of who is at fault in the accident. This provides you the peace of mind for your family and friends.

Personal Injury protection is often a minimum requirement that is practiced in some states or countries, you can ask your insurance service provider what are the requirements in your state. Underinsured /Uninsured motorists' insurance coverage - This policy offers protection to the policyholders if the person at fault is underinsured or not insured at all. It is advisable to ask your insurance service provider what will be your charges in case you got involved in such a situation. Normally the insurance provider should not charge you some extra premiums.

Rental reimbursement, towing and labor - This extra coverage often given with a comprehensive insurance are considered as specials by auto insurance companies.

So in case your car got damaged the insurance service provider will pay you for rental cost for only couple of day. They can also offer to pay for the towing of your vehicle but not always included in the policy. You can also inquire from your insurance company what is included in the cover.

The legal requirements.

Most countries and sometimes states will require a certain level of cover ranging from full comprehensive auto insurance to a third party auto insurance.

However, in most cases, it is normally up to you as the driver to ensure that your insurance service provider offers you the minimum required you deserve. In most cases they are not under any obligation to instruct you of the requirements.

Your Auto Insurance And Your Teenager

The data about teenage drivers are not very good. The Insurance Institute for Highway Safety (IIHS) state that people whose age is 16 are involved in traffic accidents nearly six times more often than drivers whose ages are between the ages of 30 and 59. This is the reason that car insurance premiums are much higher for this age group.

The good news is that some auto insurance companies do not take the same negative view of young drivers as stated by the IIHS. Some of these auto insurance companies offer discounts that to assist in helping you cut costs. A point to remember: high risk = higher insurance premiums. Use this measuring principle as you look around for insurance.

Here are some recommendations to assist you in keeping your insurance premiums lower and hopefully your teenager's driver's license free from violations:

· Assist your teenager in learning the traffic laws and how to correctly follow them. The first and easiest way to keep your insurance premiums at their lowest is for your teen to keep his/her driving record clear from traffic violations. You as their parent should know and understand what the traffic laws for your state are and help your kids to follow them.

· Be a good example. Ask yourself these questions: Do you speed or drive in a reckless manner? Do you find yourself yelling at other motorists while you are driving? If your answer is yes to these questions it will be difficult to expect any different from your teens. Make it habit while behind the wheel to demonstrate how to drive with patience and how to observe and follow the traffic laws of your state. A point to remember: your actions speak louder than your words.

Add your teen driver on your policy. Instead of having a single policy on your teen driver, add them to your policy as an additional driver. This will pass on any discount that is currently on your policy to them. Register them in a driver education course. There are discounts available for teen drivers who take certain driving classes. Before you do this call your insurance company to find the best courses to enroll in, this will save you from paying big bucks for a course that may not be acceptable. Boycott the sports. Sometimes parents may try to live vicariously through their teenager by buying them the hot/fast sports car that they couldn't get in when they were the same age. Focus on getting your teen driver a clean, reliable and safe vehicle in doing so you will get lower premiums. This tactic will also diminish the temptation for your teen to drive fast. Get them to pitch in. Explain to your teen driver that auto insurance costs money and how it is in the family's budget. Provide them the opportunity to assist in chores to help cut the costs associated with their car insurance. If nothing else this tactic may allow them to feel you are treating them like an adult. Communicate the dangers of drinking and driving. This in itself is a tough topic to discuss especially to a teenager who already feels like they have everything figured out and under control. Just take some time and explain to them how this issue is of great importance to their and others safety. Use traffic school to if needed. If your teen driver does get a ticket on his/her license, encourage them to attend traffic school to keep the violation and points against their license removed. Take a ride with them. Your teenager may have been a safe driver last year when they obtained their license however don't assume that bad driving habits have not slipped in since then. So jump in the care with them and take a ride to the store, the movies, etc. This will give you a great opportunity to observe their driving habits in a non-confrontational way. If you see them breaking some good driving habits then point it out in a diplomatic way. More importantly praise them for the good driving even more.

If you can implement some of these ideas, you will find it easier to make it through the teenager driving years safely. This will also keep your auto insurance premiums from being a 800 pound gorilla in the room.