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This program offers both property and liability coverages and also offers some advantages not found with other Managing General Agency or Surplus Lines programs. The CRES Management program is offered for a nominal fee and offers the insured the ability to communicate with a legal professional who understands the challenges offered by this type of business. The client can call a toll free number and discuss either potential claims or possible liability problems such as difficult leases or multiple landlord or city additional insureds. This offers the producing broker the ability to lay in another direction the several types of legal problems that traditionally the producing broker has had to respond to that are essentially outside his expertise. We advise you to urge your insureds to make use of this offering.
We also offer you more data processing capability than most others. The ability to make your own indications on line without underwriters involvement, then close by having us turn the indication into a sellable quote. Policy issuance is a function of binding and generally will be e-mailed within 24 hours of our binding acceptance. We are determined to simplify the process of working with you and your business, creating greater time savings and profitability.
The liability insuring agreement provides bodily injury and property damage liability coverage similar to that provided by the commercial general liability policy and the business auto policy together. The “other than Auto” portion of the insuring agreement for garage operations provides paying all sums an insured legally must pay for damages because of bodily injury or property damage when caused by an accident and resulting from garage operations. Basically a premises liability policy with some tailoring for the specific needs of garage operations.
Garage liability for covered autos is provided under symbol 21 for the named insured and anyone else while using the auto with the insured's permission, the insured's employees, if the covered auto is owned by that employee, and the insured's customers although certain restrictions apply to coverage for customers.
The liability insuring agreement for garage operations other than covered autos promises to pay all sums an insured legally must pay for damages because of bodily injury or property damage caused by an accident and resulting from garage operations involving the ownership, maintenance or use of covered autos.
The garage policy provides liability coverage for products that are made or sold in a garage business. The policy also provides completed operations insurance which is subject to a deductible. Completed operations coverage would apply in the event of a claim that resulted from property damage to an auto as a result of work the insured performed on that auto.
The policy has an annual aggregate limit for garage operations other than covered autos and an each accident limit which applies to both auto claims and other than auto claims.
The garage keepers section of the policy covers the insured's liability for loss to a covered auto left in the insured's care while the insured is attending, servicing, repairing, parking or storing the auto in the garage operation. Garage keepers coverage is necessary because liability for such damages is excluded under the garage liability section of the policy with the care, custody, or control exclusion. The causes of loss that may be insured against are collision and comprehensive coverage. The specified causes of loss are fire, explosion, theft, and mischief or vandalism. The limit of insurance shown in the policy is the most the insurer will pay for each loss at each location listed in the policy. In addition to the limit of insurance the garage keepers policy pays supplementary payments that could be made to cover the cost of expenses incurred while the insurer is defending the insured against suits alleging covered losses.
Garage keepers insurance can apply on a legal liability basis, which means the insured must be legally obligated for the damages in order for the insurer to respond to a claim. The direct coverage option is available with our program. This coverage will pay for losses to customers cars without the usual requirement that the insured be legally liable.
Garage physical damage insurance provides the same collision, comprehensive and specified causes of loss coverages available under the business auto coverage form. However, the garage form contains a number of exclusions that are not found in the business auto form. In our form the coverage is written on a comprehensive basis. The comprehensive insuring agreement states it will pay for loss to a covered auto or its equipment from any cause except collision, overturn, or a peril specifically excluded. The collision coverage pays for a loss to a covered auto caused by a collision with another object or overturn.
The limit of insurance under the physical damage coverage is the smaller of the actual cash value of the damaged or stolen property at the time of the loss or the cost to repair or replace the property with property of like kind and quality. A deductible would apply for comprehensive cause of loss coverage.
The deductible for comprehensive coverage applies only to losses caused by theft mischief or vandalism. Comprehensive coverage for auto dealers carries a per auto deductible, as well as a maximum deductible which is applicable for all loss in any one event. When collision coverage is added a deductible would apply for each covered auto.
