Garage Liability

[bill777]

I have a client that in order to get his dealership license this is the insurance he needs. A garage liability insurance certificate which shall include, at a minimum, $25,000 combined single-limit liability coverage including bodily injury and property damage protection and $10,000 personal injury protection. I got a quote for $1250, any of you guys can beat that?

 

[the mayor]

Sure...I could beat that.
But without knowing some details on what really needs to be covered...it probably won't be a very good policy.
Hope the truck driving works out for you.

 

[bill777]

Sure...I could beat that.
But without knowing some details on what really needs to be covered...it probably won't be a very good policy.
Hope the truck driving works out for you.

i stopped driving trucks for now and try to see if i can make it in the insurance business, i replied to my old thread to that guy that had doubts about me lol, i couldn't stop laughing he should be a detective or something he has skills!
my client is a new business, he's opening up a pawnshop and he'll be a used car dealer too. how much you think you can beat my price? i'm trying to see if my first carrier i got appointed for commercial lines is any competitive.

 

[the mayor]

You are missing the point.
You are insuring your client's business.
His entire risk.
The way I'm reading it is you are putting a garage liab quote together.
Then what?
If he is going to be a used car dealer....how many cars is he going to sell?
Average price?
Building and contents?
Does he need a bond?
Will he be fixing other cars?
will he have to work on the cars before or after sale?(if not...who/how?)
Warranty?
And then there's the pawn shop......which is a whole other ball game.Will the carrier you got a garage quote from want anything to do with a pawn shop?

Hint: those are all questions to ask your client and carrier. No need to answer them here

 

[Air Jer]

If those are the liability limits you quoted, you are merely shopping price and not looking out for you customer's best interest. Please tell us you didn't quote the state minimums.

 

[the mayor]

If those are the liability limits you quoted, you are merely shopping price and not looking out for you customer's best interest. Please tell us you didn't quote the state minimums.

Exactly.
A Quarter doesn't go by that I get a referral for a start-up that went to another agent....and got a minimal policy.
Now...they are having a hard time getting the correct coverage because the original agent botched it.

Yes....some of the blame can go to the client for not communicating his needs....but in reality, they do not know their needs.
BUT...it's an agent's job to ask the hard questions and look at the big picture.

Covering a pawn shop is tough. Covering a used car dealer can be tough. Covering a combo can really be some work.

 

[rockandroll]

I'm in Illinois- working in commercial P&C- mostly garage keepers, and towers, be very careful on your risk assesment
you do not want a call in 6 months that your client had a loss and it is not covered