Insur. other than RLI

[alternativeview]

Does anyone know of a good insurance co. that offers liability coverage and garage keepers for $1,000,000.00 and it's not RLI?

[DryStar]

Does anyone know of a good insurance co. that offers liability coverage and garage keepers for $1,000,000.00 and it's not RLI?

I may be mistaken but I don't believe RLI even offers garage keepers insurance. I had Auto-Owners for years when I operated a full service shop in Michigan and was paying around $2000 and was well worth it after they covered a few expensive claims.

I think your location might dictate more as too who you should use. Gotta do some shopping. Just make sure you fully go through your policy entitlements with a "magnifying glass" before signing.

[puka pau]

I'm a mobile business only so I purchased a $2,000,000 commercial general liability policy (auto glass installation/repair - mobile business operating out of the home, classification #00351) from Liberty Mutual for $334.00/yr. Also covers rented premises, employees, advertising injury, completed operations, and medical expenses. I didn't care for RLI. Seemed to me that there were more exclusions and other ways for them to wiggle out of coverage than I was comfortable with. I would source coverage from any large, nationally known company.

Cheers;

Puka Pau

[DryStar]

I'm a mobile business only so I purchased a $2,000,000 commercial general liability policy (auto glass installation/repair - mobile business operating out of the home, classification #00351) from Liberty Mutual for $334.00/yr. Also covers rented premises, employees, advertising injury, completed operations, and medical expenses. I didn't care for RLI. Seemed to me that there were more exclusions and other ways for them to wiggle out of coverage than I was comfortable with. I would source coverage from any large, nationally known company.

Cheers;

Puka Pau

Puka Pual,

Do you know what garage keepers insurance is or even covers? If you don't, your not going to pay less than $1800 a year to be covered. That's a fact. Don't take my word on this, just do some research.

[puka pau]

Drystar;

As I stated, I'm a mobile WSR repair-only business. I don't have a garage or any other structure that I keep. I don't do detailing. I don't replace glass. I don't restore headlights. I don't pop dents. I don't paint. I don't do upholstery. I discussed my business operations with my agent and based on the information I provided during our meeting he recommended the policy covering the items that I described. He indicated as well that it's not uncommon for agents to 'sell-up' and indicated that I didn't need a garage keepers policy - although that was the first type of policy I asked about. I have no idea what type of business you or Alternativeview has, but previous discussions about business insurance on this board have consistently assumed that if you are a WSR business you automatically need a garage keepers policy. I'm merely pointing out that it's not necessarily so and being not necessarily so it's not necessary to spend $2000/yr on a policy when $300 and change will suffice. I have $1,000,000 liability for each occurrence covering damage to a customers vehicle as a result of operations (which both my agent and I agree is adequate) and a general aggregate limit of $2,000,000 covering damage other than products or completed operations. I also have $1,000,000 liability coverage for each employee (just in case I ever hire somebody, which although unlikely is possible) and $1,000,000 liability coverage for each automobile accident caused by me or an employee while operating a customers vehicle (not likey because I never operate a customers vehicle and I have no employees). In addition I have $1,000,000 liability coverage for damages to any premises that I rent (not likely because I'm a mobile home-based business and I own my house - but hey, never say never). My policy also includes $1,000,000 liability for personal and advertising damages in case I ever decide to defame or otherwise slander my competition and expose myself to a defamation lawsuit (not remotely likely). If your business differs significantly from mine you may well need a garage keepers policy. But if it doesn't, you and perhaps Alternativeview may well be paying too much for coverage you don't need.

Cheers;

Puka Pau

[Brent Deines]

http://www.dealers-insurance.com/Garage ... epers.html

"SUMMARY
As you can see, the difference between garage liability coverage and garagekeepers coverage is the difference between liability insurance and physical damage insurance.
One covers the insured's liability for operations and autos and the other covers damage to customer's vehicles."

Much like carrying full coverage insurance on your car it's a personal preference based on the risk you are willing to accept. Having one incident with a drop of resin cured on the cowl of a vehicle that cost me the price of a paint job I was very glad to have garagekeepers and would never operate a windshield repair business without it. At the time it would have put me out of business to pay for that paint job. Now I could probably pay for a paint job if I had to, but if someone plowed into a $100,000 Mercedes while I was working on it I would still have a hard time paying for it. Unlikely to be sure, but not impossible, especially if you work in a climate where there is ice and snow.

I'm not a big risk taker so I carry full coverage on my car even though all the insurance premiums I have paid for over the years would have paid for my car if I totaled it. Like I said, it's personal preference based on your risk tolerance. I also would not knowingly leave my vehicle with a windshield repair technician who did not have garagekeeper's insurance, even for just a few minutes, but then again, very few people would ever think to ask if you have insurance or not until something happens to their vehicle.

[DryStar]

puka paul,

Thanks for clarifying your insurance coverage. I only responded because of the first sentence in your post including the wordage of (glass installation and repair). Glass installation will always require a garage keepers policy regardless of mobile or in shop service.

I also appreciate what Brent has added. You can buy cheap and take on the risk or buy smart and be covered. With out proper coverage, just one claim can put you under.

Think about it.

[puka pau]

Well, I did think about it because I was sure I was missing something and I discovered that I in fact do have property damage coverage on my garage liability (CGL) policy in the form of a "Ultra Specialty Services Liability Plus Endorsement". This rider is included at no additional charge to me and reads in part:
"We will pay, at your request, for property damage to property of others caused by you or while in your possession arising out of your business operations and occurring during the policy period..." The rider excludes "loss" of property owned by others and defective work performed by me. The maximum paid for each occurrence is $2000, an annual maximum of $7500 and a $250 deductible for each occurrence. While this may seem inadequate coverage to some, it suits my business. My concentration is commercial and wholesale. I perform virtually no retail repairs.
The question all of us face when considering insurance coverage is " how much is too much?" I carry $1,000,000 liability coverage on my car. I have never had an accident that caused bodily injury. Could the law of averages conspire against me? Of course. Could whoever I happen to harm sue me for $5,000,000? Absolutely. Does that mean I should carry $5,000,000 worth of liability? If I carry $5,000,000 could I be sued for $10,000,000? Of course. Should I then consider $10,000,000? Where does it all end? The ultimate point I'm trying to make (for the third and hopefully the last time) is that there is a lot of distance between black and white and there is more than one path to the waterfall. Some may need a $2000/yr policy, many do not. I know that Brent presented those two examples to illustrate a point, but really, those examples are kind of at the far boundary of common experience, aren't they? Interestingly, about 17 or so years ago I dripped a drop of resin on a hood of a used car and it set up and I tried to scrape it off and off course that didn't work too well so I got the paint touch-up vendor (with the used car manager's approval) to make it pretty. It cost me $50. I must say that I never would have knuckled under to a customer demanding that I eat the cost of repainting the whole vehicle because I dripped a drop of resin on the hood. That's just way over the top.

Cheers;

Puka Pau

[t4k]

"Ultra Specialty Services Liability Plus Endorsement".


Cheers;

Puka Pau

Now there is something I have never heard of.

[blemon56]

Just a note... I spoke with a rep from RLI yesterday. I asked about garagekeeper ins. He asked what state I claim as residence. Apparently, they do provide GKI in NJ, and SD. He sent me a proposal... haven't gone through it yet. For a small business like mine... it just might work.