Insurance coverage for auto dealerships can be tricky. Your inventory, property, and employees all need various types of protection. Sometimes, an accident can occur that triggers multiple policies. This can limit payouts and potentially leave lot owners paying out their pockets for repairs and other liabilities. If your auto sales lot is in the Harrisburg, PA area, Henderson Insurance Agency can help you protect most of your operation with a garage liability policy.
What is Garage Liability Insurance?
Garage liability insurance is designed to protect dealership owners from accidents and damage sustained to cars that are parked in their lot. If your cars are damaged by vandals, acts of nature, or other covered circumstances, this policy will pay for repairs or replacement. These policies also cover bodily damage that might occur in your garage. For example, an electrical fire engulfs your garage. In the course of attempting to put out the fire, one of your employees manages to burn himself. The resulting fire damages several vehicles and parts of the building before it is extinguished. Your garage liability insurance would help pay for your employee’s medical bills, It will also help pay for replacement inventory and repairs to your building.
Why Do I Need Garage Liability Insurance?
As a responsible business owner, you already have several insurance policies in place. However, these policies may not be enough to fully cover your losses. If a catastrophic event took your entire inventory and destroyed your property, would the payouts from your current policies be enough to pay off your existing debts and start over from scratch? Garage liability insurance guarantees you will always be able to rebuild your business, no matter what life throws your way.
Garage liability insurance also protects your personal wealth. If you are found liable for an accident or injury and ordered to pay a judgment, you could be personally responsible for any amounts your existing policies don’t cover. Garage liability insurance is an extra layer of protection against the unknown.
Find out more about how garage liability insurance can protect your dealership. Contact the experts at Henderson Insurance Agency. We proudly serve the insurance needs of property and business owners all around the Harrisburg, PA area.