Help with Garage Keeper Insurance

[iiinycboi]

So i got a prospect who is buying AAMCO and want to purchase insurance. They are shopping around and basically said whoever gets them a quote first, they get the sale.

Now i;ve never done garage keeper insurance before, can someone help me as to what insurance coverages they need for an automotive repair shop?

do they need auto liability? (is this included in garage keeper)

so far i got them down for

BOP
business income
property
General liability
business equipment
garage keeper
workers comp.

Thanks!

 

[JCK818]

So i got a prospect who is buying AAMCO and want to purchase insurance. They are shopping around and basically said whoever gets them a quote first, they get the sale.

Now i;ve never done garage keeper insurance before, can someone help me as to what insurance coverages they need for an automotive repair shop?

do they need auto liability? (is this included in garage keeper)

so far i got them down for

BOP
business income
property
General liability
business equipment
garage keeper
workers comp.

Thanks!

If they are specifically asking for garage keepers, get them a quote for garage keepers. It's a package policy with most carriers.

 

[iiinycboi]

Oh I see, I was worried that i would leave out an important coverage they needed. I spoke with my surplus line ga and she tells me garage keeper was a supplemental apple so ididnt think it was a whole package

 

[JCK818]

Oh I see, I was worried that i would leave out an important coverage they needed. I spoke with my surplus line ga and she tells me garage keeper was a supplemental apple so ididnt think it was a whole package

Learn the difference between garage keepers and garage liability, before you start approaching this market. Sometimes they need one of them and sometimes they need both. There is good money in this market, but you have to know what you are talking about.

 

[Guest]

Learn the difference between garage keepers and garage liability, before you start approaching this market. Sometimes they need one of them and sometimes they need both. There is good money in this market, but you have to know what you are talking about.

and learn the KEY phrase..............CARE, CUSTODY, and CONTROL.

 

[iiinycboi]

i see, thanks ill do some research on those 3 C's and learn the difference.

Can you give me some examples of who needs liability and who needs keeper? Liability is when cars are stolen in their possession?

Also im still learning the standard markets like personal home and auto and small bops. This was just a referral and i didnt want to decline it. But didnt want to mess it up either.

 

[Guest]

no offense, but this is stuff that was on your test, it was on mine.

 

[iiinycboi]

hmm.. RBA, i never seen this question on the test lol. let me go dig up my old books and find out if their in there.

 

[Guest]

hmm.. RBA, i never seen this question on the test lol. let me go dig up my old books and find out if their in there.

Well different states, different states, but it was all over my test

 

[djs]

I don't remember my test. Can't say if it was on there or not. I remember there was several marine, some inland marine and a lot of aviation questions, which I didn't study.....

Back to the question at hand.... true story.....

I had an insured call me to file a claim on his auto. Turns out, it was at fault for a 5 car pile up, totalling all 5 cars. Well, they had dropped it off at the dealership for them to repair (warranty) and in the process of the repair, the tech took it on a test drive and caused the accident.

Now, the dealership took over the entire claim pretty quickly, which made it easier on my insured (didn't have to subrogate the claim back to them).

Now, the quiz question is what coverages does the repair facility need to have to cover this type of incident. You are talking well over $75K in property damage total, though fortunately, I don't think anyone was hurt (wasn't able to track the entire claim).

Dan