What is Garage Liability Insurance?
Almost all Vermont businesses are exposed to liability risks that could result in lawsuits, and the exact risks a business face commonly depend on its industry. Garage liability insurance is designed to help automotive repair shops shield themselves from many of the general and specific risks they face.
Garage liability insurance is a specialized commercial liability insurance that’s tailored to meet the needs of repair shops and similar businesses. Like other liability insurances, garage liability will typically help pay legal defense fees and settlements that arise from covered third-party lawsuits. The insurance will usually begin paying when a covered civil suit is filed and regardless of the ultimate outcome of the case.
How Much is Garage Liability Coverage?
Premiums for garage liability coverage vary because they’re based on multiple factors. Annual revenue, chosen limits and chosen deductibles will all impact how much a policy is, as can other factors.
For an accurate idea of how much garage liability coverage will cost in a specific situation, businesses should talk with an independent insurance agent. Independent agents aren’t captive to one insurance company, so they can request quotes from multiple insurers. This makes the process of comparing customized quotes easy.