Put Your Expertise to the Test: Garage Insurance Quiz

Are you ready to put your garage insurance expertise to the test? This week, our agency has prepared a quick TRUE OR FALSE trivia quiz. Read the statement; give it your best shot—and no peaking at the answers below!

#1: TRUE OR FALSE? Garage liability insurance and Garagekeepers liability insurance provide the same coverage.

#2: TRUE OR FALSE? False pretense coverage is designed to cover a loss that is caused when someone causes you or an employee to voluntarily part with a vehicle by trickery, scheme, or false pretense.

#3: TRUE OR FALSE? Typically, a garage insurance policy WILL NOT cover boats and watercrafts in a shop.

#4: TRUE OR FALSE? There is no need for cyber liability insurance in a garage and auto body shop.

Grab a red pen and let’s check those answers…

#1: FALSE. Garage liability insurance is meant to cover bodily injury and property damage occurring as a result of operations but excluding owned an nonowned vehicles. Garagekeepers liability insurance is designed to cover vehicles that are owned by you for sale or owned by OTHERS and taken in your shop (such as repair shops, carwashes, etc.) for repairs or consignment sale.

#2: TRUE. Also, just for an added bonus—False pretense coverage is an endorsement.

#3: TRUE. There is specific language that is used in existing garagekeepers liability insurance policies, such as: “We will pay all sums the insured legally must pay as damages for loss to a customer’s autos.” The term “customer’s autos” pertains to land vehicles, rather than floatation devices. It is always best to ask about additional coverage for watercrafts.

#4: FALSE. This is not true in many cases! If your shop takes a customer’s info (name, address, social, license number or credit card number, etc.) and plugs it into a computer system, writes it down, or runs it through a credit card machine, you may be at risk for a data breach. Cyber liability insurance is necessary to protect from this type of loss.

Now that you have tallied up your score, how did you do? Three out of four? Four out of four? Hey—even if you got one out of four, you do not have to worry! First and foremost, now you are well aware of what is true and false—you learn something new every day! Second, you have our experts at Wolpert Insurance to guide you at all times. The ins and out of garage insurance can be tricky, but with our agency by your side, you will become an expert in no time.

To learn more or to grab a free quote, contact our agency. Until then, please be sure to come back for more garage insurance and industry-related knowledge soon!