Liability coverages on independent parking garages and lots can be difficult to place, especially those located in the downtown areas of larger cities. Commercial general liability and garagekeepers legal liability coverages are available for parking facilities. Rates are based on the number of parking spaces. As a part of this package, coverage may be available for valet parking offered by … Read More
Moving and storage companies are responsible for their clients’ personal and commercial goods from the time the load is removed from the client’s home or place of business, during transit, while in temporary storage, until it is delivered to (and unloaded at) its final destination. Coverage is available for auto liability and physical damage, general liability, the client’s goods while … Read More
Recreational vehicle dealers need liability and physical damage insurance coverage. These coverages may be offered separately or on a combined basis, depending on the insurer. Snowmobiles, campers, motor homes, mopeds, trail bikes, and all-terrain vehicles are some of the more popular vehicles. Liability insurance covers all sales operations and demonstrations and may extend to include completed repair and service operations … Read More
Tire retreading presents a significant products liability exposure, making this a difficult class of business to place. Several programs available for tire dealers and retreading operations provide property, crime, loss of business income, and commercial general liability coverages. Monoline unsupported products liability coverage is also available.
Used car dealers are a difficult class to underwrite and place because of a number of problem exposures. Examples are the difficulty in establishing the proper valuation of used vehicle stock due to value fluctuation and products-completed operations concerns when the dealership provides repair and maintenance services. Theft, hail, and vandalism are concerns in certain areas because the vehicles are … Read More
This is an “all risk type” coverage designed to insure cargo while it is in the custody of the motor truck carrier that is used by the insured transportation broker. It includes warehouse-to-warehouse coverage and applies when the motor truck carrier cannot pay the shipper for its cargo loss because its insurance was cancelled, the insurance company denied the claim, … Read More
This is excess bodily injury and property damage liability limits over the basic automobile liability insurance coverage limits provided by the Automobile Insurance Plans (AIPs) in various states. Optional medical expense coverage and uninsured motorists coverage is also available. The premium charged is based on the primary policy premium.
Businesses that repossess automobiles have difficult liability exposures and require expert handling. General liability, especially personal and advertising injury liability, is required to cover the operations exposure. In addition, auto liability for tow truck operations is required. Drive-away coverage is needed to cover the liability exposure on the vehicle being repossessed and garagekeepers legal liability is needed to cover vehicles … Read More
This coverage protects financial institutions, such as banks, savings and loans, finance companies, and credit unions against financial loss resulting from physical damage to property on which they have made loans. Coverage is force-placed when a borrower does not have the required physical damage insurance. The borrower is required to pay for the coverage as part of his or her … Read More
Restoring, caring for, and maintaining older automobiles is a popular pastime of Americans of all ages. Gatherings, parades, and tours for antique autos sponsored by antique automobile clubs take place throughout the year. These vehicles may be extremely valuable, depending on the model, age, and availability. In many cases, the expenses the owner incurs to restore the vehicle equal to … Read More