Protect Your Business with Armour
The Garage Auto Policy provides coverage for businesses within the automotive industry. This policy will protect you from any property damage or bodily injury claims, and offer you greater peace of mind and more protection for any automobiles that you may be working on.
A common misconception about this type of insurance is that it's only needed by those who own automobile repair shops or garages. While this coverage is great for mechanics and auto repair specialists, it's also recommended for any business that works with, sells, or transports vehicles.
Five Sections of Coverage
- Liability provides coverage for vehicles owned and operated by the business, as well as customers' automobiles while they are in the business' care.
- Accident Benefits offers protection if you, or any other person is injured (regardless of fault) and provides medical benefits for injuries that occur during use, ownership, or operation of owned or non-owned vehicles.
- Collision Section provides coverage if an owned vehicle, or a customer's vehicle that's in the business' care, is part of a collision.
- Comprehensive/Specified Perils Section provides coverage for perils like fire, theft, windstorms, or hail on owned vehicles and customer automobiles in the business' care.
- Endorsement sections contain changes to the policy that override whatever the initial policy document said. These depend on the type of operation insured under the garage automobile policy.
Types of Vehicles Covered
- Owned automobiles: vehicles owned by the business obtaining the Garage Auto Policy. An example of this is cars owned and held for sale.
- Customers automobiles: customers' vehicles while they are in the care, custody, or control of the business (repair garage, lube shop, glass shop, etc.)
Owned Automobiles DO NOT include vehicles owned by the business and regularly driven in the course of the business for service runs, parts runs, towing customer vehicles, etc. These are better insured under a Commercial Automobile policy. Owned Automobiles for a Garage Automobile policy would be automobiles owned and held for re-sale on a car lot, or a demo vehicle that is used only in regards to the sales transaction.
Businesses that Require an Auto Garage Policy
Service and Maintenance
- Lube Shops
- Oil / Filter Shops
- Transmission Shop
- Muffler Shops
- Tire Shops
- Windshield Replacement Shops
- Rock Chip Repair Kiosks
- Automobile Detailers
- Car Washes
- Tow Truck Services and Recovery
- Road Side Assistance Services
- Automobile Clubs
- Car Transporters / Haulers
Automobile Repair Garages
- Full Service Repair Garages
- After-Market Parts Shops like Truck Outfitters
- Specialty Shops like Hitch Installations
- Specialty Shops like Electronics/Sound System Installers
Parking and Valet Services
- Airport Parking Services
- Hotels with Valet Services
- Banquet Centres with Valet Services
- Rental Car Agencies (customer parking)
- Dealerships – Selling New Vehicles
- Car Dealers – Selling Used Vehicles (Owned by the Dealership)
- Car Dealers – Selling Used Vehicle on Consignment (Customers Autos Held for Sale)
- RV Dealers – New and Used
- Automotive Auction Services
- Wholesale Automobile Dealers
- Wholesale Automobile Reps
The premium for a Garage Automobile Policy is calculated based on several factors:
- Number of Employees
- Location of Business (in urban centre, suburbs, or small town)
- Average number and maximum number of owned automobiles, or, customer automobiles that need to be insured.
- The maximum value of any one owned automobile or customer automobile that needs to be insured in regards to collision coverage.
- The maximum value of any one owned automobile or customer automobile, AND the average number and maximum number of owned automobiles or customer automobiles that need to be insured with respect to comprehensive/specified perils coverage