The primary types of automobile coverage are Liability, Collision and Comprehensive.
Liability is split into Bodily Injury Liability, which covers expenses related to the bodily injury or death of another driver, passenger or pedestrian; and Property Damage Liability which covers expenses for auto-related damage to another persons property — such as a vehicle or building.
Collision insurance covers expenses related to your own vehicles’ damages due to an accident.
Comprehensive insurance covers expenses for damage to your vehicle due to exceptional circumstances such as theft, a storm or fire.
A number of secondary or ancillary coverages exist within automobile policies. These coverages include Medical Payments, Personal Injury Protection, Uninsured or Underinsured Motorist, Rental Reimbursement and Full Glass. Owens Group will gladly advise you regarding policy coverage requirements for your state, and tailor a policy to best suit your needs.
Garagekeepers Liability insurance is coverage designed specifically for damage to an auto that has been left in your care, custody and control. Although this is an exposure you would generally associate with an auto-repair shop, valet parking and parking garages also have this exposure. Coverage can be written on a primary/direct basis, or to compensate in excess of an individual’s personal auto policy.
Covers your liability for third-party bodily injury or property damage due to the negligent use and operation of an automobile that is rented, hired or borrowed in the course of your business. This is particularly important when employees use their own cars for business purposes and have an accident. An employee’s personal auto policy may not have adequate coverage or may no longer be in force. In the event of a serious incident, the injured party will then look to you.
