Garagekeepers insurance helps protect businesses that take temporary possession of customer vehicles. If a customer’s vehicle is damaged while it is in your care, custody or control, a Garagekeepers policy can help pay for covered losses caused by events such as fire, theft, vandalism, collision or certain weather-related damage.
This coverage is designed for Colorado businesses that service, store, park, tow, repair, detail or otherwise handle customer vehicles. Garagekeepers insurance is commonly purchased by auto repair shops, body shops, towing companies, tire shops, oil change businesses, detailers, car washes, dealerships, valet services, parking garages, transmission shops and other auto-related businesses responsible for vehicles owned by others.
How Much Does Garagekeepers Insurance Cost in Colorado?
Garagekeepers insurance is usually priced based on the type of auto business, number of customer vehicles on-site, maximum vehicle values, location, security controls, claims history and total coverage limit selected. Many small Colorado auto service businesses may pay around $750 to $3,500 per year for Garagekeepers coverage. Businesses with higher vehicle counts, luxury vehicles, towing exposure, overnight storage or larger coverage limits may pay several thousand dollars more.
The final cost depends on your business operations, property location, number of vehicles in your custody, average and maximum vehicle values, storage practices, security measures, prior claims and desired coverage limits. Pricing can also change based on whether the policy is written on a legal liability, direct primary or direct excess basis.
Which Carriers Offer Garagekeepers Insurance?
Castle Rock Insurance and its partners work with a broad network of commercial insurance carriers that offer Garagekeepers insurance for Colorado businesses. Depending on your business type, vehicle exposure and underwriting eligibility, coverage may be available through carriers and programs such as Travelers, The Hartford, CNA, Chubb, Liberty Mutual, Nationwide, Markel, Great American, Philadelphia Insurance Companies, Berkshire Hathaway GUARD, Progressive, Farmers, USLI, Kinsale, Nautilus, Westchester and other admitted and specialty commercial insurance markets.
Because every auto-related business has different vehicle handling, storage and liability exposures, there is no single carrier that is best for every situation. Castle Rock Insurance and its partners review multiple insurance companies to help Colorado businesses find competitive pricing and the right combination of Garagekeepers insurance, Garage Liability, General Liability, Commercial Auto, Workers’ Compensation, Commercial Property, Business Income and Commercial Umbrella coverage based on their operations.
Get a Garagekeepers Insurance Quote Today
Damage to a customer’s vehicle can create serious financial pressure for an auto business, especially when multiple vehicles or high-value vehicles are involved. Castle Rock Insurance and its partners make it easy to review Garagekeepers insurance options from multiple commercial insurance carriers. Contact us today for a personalized quote and let us help protect your Colorado business while customer vehicles are in your care.
