The auto industry is constantly growing. As such, different insurance policies are needed for the many new facets popping up in the industry. Auto auction garages may actually face a fairly unique set of risk circumstances when it comes to liability insurance.
People are walking in and out of the garages which present a virtual plethora of risks. In addition people could be walking around the property inspecting vehicles and encounter any number of risks. And, there are vehicles that are being transported into, out of, and around the garage. The risks are too numerous to mention. A unique policy would be nice to cover all of these risks. This is where the Auto Auctions Garage Liability Insurance policy can ensure that the establishment is covered in the event of an occurrence.
Think of the type of people who are typically around the Auto auction garage. These are people who have a working knowledge of vehicles. They will be walking around vehicles, pulling and tugging on things on the vehicle. They will be opening and closing things on the vehicle. All of their behaviors present some sort of liability risk to the establishment. These risks present the likelihood of a future lawsuit. Auto Auctions Garage Liability Insurance provides protection against lawsuits of that nature. One thing to keep in mind is that it doesn’t provide for coverage of employees. They fall under the heading of “best covered elsewhere”, like the worker’s compensation policy. A customer who is generally injured on the property is typically covered by the establishment’s premises policy. The Auto Auctions Garage Liability Insurance policy covers any business related to the auction’s garage.
Then think about the vehicles themselves.
Most likely, hundreds (possibly thousands) are involved. Not only do the vehicles need protection on the lot or in the garage, but coverage needs to be provided for transportation not only to the lot or garage, but in transit to the customer’s location as well. Not only does protection need to be provided for the vehicles themselves, but any damage to others that the vehicle may cause.
This coverage is something that the Auto Auctions Garage Liability Insurance policy would provide.
Then, think of the care and maintenance of all of those vehicles. Accidents happen, and an insurance policy needs to be available to take care of those risks. It could be from something like scratching up the surface of the vehicle while waxing to somebody putting oil in the radiator while changing the oil. Auto Auctions Garage Liability Insurance provides coverage for those incidents.
Different states spell out different coverages, premiums, and risks. The best way to navigate these risks is to
contact a local licensed insurance agent who specializes in Auto Auctions Garage Liability Insurance. The agent knows the risks and is familiar with state specifications and laws. This agent will prove extremely valuable in the shopping for insurance process.