Garage and Transportation
Transportation is absolutely essential to the American economy, as the vast majority of the goods we consume are hauled and delivered via automobile. The majority of these vehicles are large trucks and trailers, and the magnitude of a potential accident significantly increases with these vehicles on the road. Additionally, if cargo is damaged or lost in an incident, it could seriously hinder operations, as deliveries are pushed back, contracts are severed, and the company's reputation is all but ruined.
Transportation insurance provides solutions for business owners in Texas and California to protect their vehicles, their operators, the cargo they transport, and most importantly, other drivers on the roads. Similar to a personal auto policy or commercial auto policy, transportation insurance extends coverage for most of the same perils, but with a few additional policy coverages.
Basic Transportation Insurance Coverages:
- Bodily Injury and Property Damage Liability - covers expenses related to injury or death of another person or others' vehicles if caused by you or an employee driving the business vehicle in an auto accident. In commercial auto policies, these coverages are normally presented as a combined single limit (CSL).
- Uninsured/Underinsured Motorist - covers damages to you or an employee driving the business vehicle and others in the vehicle as well as damage to the vehicle if you are involved in a hit-and-run incident, or if you're struck by a driver who either doesn't carry insurance or whose insurance limits do not satisfy the amount of damages incurred.
- Personal Injury Protection - covers you or an employee driving the business vehicle and others in the vehicle for the cost of treating injuries, rehabilitation, lost wages, and funeral expenses.
- Medical Payments - covers you or an employee driving the business vehicle and others in the vehicle for the cost of medical bills resulting from injuries caused by an accident.
- Collision - covers damages to your business vehicle in an accident, regardless of who is at fault.
- Comprehensive/Other than collision - covers damages to your business vehicle resulting from fire, lightning, hail, flood, falling objects, vandalism, theft, and other specified perils.
- Cargo - covers damage or loss to goods that are in transit on your vehicle at the time of an incident. Damage may be caused by an automobile accident, or from fire, lightning, hail, flood, falling objects, vandalism, theft, and other specified perils.
The need for transportation goes hand in hand with the garage industry, as vehicle maintenance and replacement is essential for keeping cars on the road. Used car dealers and mechanic shops in Texas and California see dozens of vehicles come through their operation every day, and with the number of hands that these vehicles pass through on a regular basis, accidents and thefts are inevitable. Garage insurance provides specific coverages that mitigate the risks that come with operating a used car lot or mechanic shop.
Basic Garage Insurance Coverages:
- Garage Liability - covers bodily injury or property damage resulting from an incident arising out of the garage operations. Garage liability excludes coverage to property in the insured's care, custody, or control, and thus, customers' vehicles would not be covered.
- Garagekeepers Liability - covers damage to vehicles that are in the insured's care, custody, or control, thus extending coverage to customers' vehicles. Similar to commercial auto and transportation insurance, garagekeepers liability protects against collision incidents as well as damage caused by fire, lightning, hail, flood, theft, vandalism, and other specified perils.
- Garage Dealers Physical Damage - covers damages to autos owned by the dealership and held for sale. Dealers physical damage protects against virtually the same perils as garagekeepers liability; however, it is important to note that most carriers will exclude flood coverage for the physical damage portion of a garage policy. The insured does have the option to add flood coverage as an endorsement or purchase a separate flood insurance policy.
There are a myriad of other garage and transportation coverages that insureds can add onto their policies to ensure their operations are properly protected. Our agents will complete a comprehensive review of your business and will curate a policy that provides the right coverages to protect against all potential risks to your garage or transportation operation.
Contact Us today for more information on obtaining garage or transportation insurance.