Garage Liability Insurance in Florida - How Much is it?

The cost of maintaining a business is incredibly suffocating, especially if it’s only a small company. But for any business, the price that suppresses profits and drives up overhead is like an unstoppable obstacle to your own company’s success. It’s true if you operate and own a garage or an auto repair shop. If you are in the auto service company or industry, you might face a higher overhead and costs for all aspects of the company. But one thing you must not skip out is to get insurance coverage. It’s time to consider garage liability insurance and see how it plays a significant role in your business.

What Is Garage Liability Insurance?

It is a specialty insurance policy for repair shops, auto dealers, mechanic shops, service stations, and truck operations covering your company’s liability exposure with an acquired business liability insurance. On the other hand, a garage keeper insurance under this policy provides protection when your car is damaged by collision, vandalism, fire, or theft. It safeguards your client’s vehicle and keep it in a safe location to do a service or just storing or parking purposes.

The Garage Liability Insurance coverage is made to give both Auto Liability and General Liability coverages in a single form for insured individuals who operate and own a garage. This insurance covers the legal liabilities of a truck, automobile, motorcycle, trailer dealers, and recreational vehicle for claims of BI or bodily injury and PD or property damage, which may arise during business operations.

How Florida Garage Liability Insurance Works?

The claims for Garage Liability Insurance is the same as General Liability Insurance offers. It consists of property damages and injuries that a company operations cause to individuals who are not their employees. It covers situations caused by mechanic test driving a client’s car and any operations with garage liability insurance. If the mechanic hits one vehicle, a garage liability can pay for the damages. Unfortunately, the client’s vehicle will not be covered unless you acquire the garage keepers insurance coverage.

Insurance companies that offer insurance for garage recommend insurance policy included in general liability insurance coverage like advertising and personal injury. It provides company owners with a convenient way to maintain their automotive business and get the right and applicable fundamental exposures covering one policy alone.

What Garage Liability Insurance Florida Covers?

This kind of liability insurance covers arguments made by individuals who are not employed in your company, that your operations caused them damages or harm. For instance, this kind of liability insurance is usually triggered by:

  • Property Damage: A client’s repair costs after a hydraulic lifting smashes his device.
  • Bodily Injury: A seller’s medical expenses after he breaks his legs from a fall in the service bay.
  • Completed Operations And Products: A client’s repair and medical expenses after a mechanic forgets to tighten up the vehicle’s lug nuts of the tire.

Who Needs Florida Garage Liability Insurance?

Businesses in Florida that provide towing services or service station needs Garage Keepers Liability Insurance coverage because it will protect your business if it tries to store vehicles for customers. Florida Garage Liability Insurance or Florida Garage Keepers Insurance is a product made for temporarily and regularly individuals who possess someone’s car. It was created to cover expenses associated with unnecessary situations, warranties, or faulty parts.

Small companies that need Florida Garage Liability coverage include:

  • Auto repair shops
  • Auto body shops
  • Auto glass installers
  • Service stations
  • Oil change and lube shops
  • Emissions testing centers
  • Tow truck operators
  • Detailers
  • Car dealerships
  • Parking garages

What Is The Cost Of Florida Garage Liability Insurance?

The annual rate for an insurance garage liability in Florida falls between $1500 and $4000. It is massively big compared to other general liabilities because it covers companies that are facing more risky operations. Garage owners typically need other insurance policies for their businesses, like workers’ compensation and garage keepers. The annual costs can increase between $3000 to $6500.

Florida’s Garage Liability Insurance can safeguard you in so many ways. Though this insurance price can be an additional expense, it promises financial security for your company. There is so much more to explore about Garage Liability Insurance Policy in Florida, including other general liabilities like Garagekeepers Insurance. The best possible way to fully understand how it works and protects your company is to request an insurance quote applicable to this policy. It would be best to get a reliable and experienced insurance agent to discuss the necessary information regarding your unique situation.