garage coverage form

minimum liability limits for truckers

- $750k for interstate transpo of nonhaz property - $5mil for inter or intrastate transpo of large quantities of certain hazards like compressed gas, radioactive materials, or explosives, $1mil for inter or intrastate transpo of other hazards

Trailer Interchange Coverage

A trucking business swaps trailers with other carriers. What coverage is necessary to cover loss to the other's trailer while in the borrowers possession?

garage physical damage

Collision, Comprehensive, Specified Perils; usually, auto dealers buy phys damage on blanket basis

Additional insured - lessor endorsement

Commercial auto endorsement used to make leased vehicles considered owned vehicles for coverage purposes.

garagekeepers insurance

Coverage for damage to customers' autos left in the named insured's care while the insured is attending, servicing, repairing, parking, or storing them.

MCS-90 Endorsement

Endorsement attached to the Truckers coverage form to provide proof of public liability coverage for BI, PD, and Environmental restoration

Mobile equipment endorsement

Makes mobile equipment considered a covered auto for coverage purposes

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Physical damage coverage only for the dealers' autos, including owned autos, autos for sale, and autos on consignment

Motor Carrier Act of 1980

Requires truckers and other commercial carriers to certify they are able to meet financial obligations if they become liable for injury or damage arising from their operations. liability insurance does this. applies to vehicles with gross weight of 10k+.

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Trailers owned or hired by the named insured while the trailers are in someone else's possession under a written trailer interchange agreement

Drive other car (DOC) - Broadened Coverage For Named Individuals Endorsement

can be added to commercial auto cov. form; extends business auto cov. to nonowned vehicles operated by person/spouse named in the endorsement. does not apply to owned autos (named or spouse). may be especially important for named insured if furnishing an auto for an emp. w/o personal auto insurance

liability coverage

covers both auto and business liability arising out of the ownership, maintenance or use of covered autos and garage operations (customer falling)

trailer interchange coverage

covers damage to nonowned trailer in trucker's possession at TOL. trucker must be liable under written interchange agreement, and damage must be caused by cov peril

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customers' autos left with the insured for service, repair, storage, or safekeeping

garage coverage form

designed for auto dealerships, auto repair shops, and garages. Includes auto, truck, motorcycle, RV, semi and trailer dealers. The form typically includes liability (casualty), garagekeepers (property), and physical damage (property). casualty coverage for UM, UIM, and med payments covg may be added by endorsement

individual named insured endorsement

extends personal auto coverage to immediate family members of the named insured. (sole proprietor w/o personal auto covg and only business auto covg can use this to extend coverage to their family members with certain exclusions)

motor carrier coverage form

for businesses that transport their own goods and property, and may haul the goods of others. basically the same as truckers form, except it can include owned priv. pass. autos

truckers coverage form

modified version of the business auto coverage form that takes into consideration the special practices and regulations that apply to the trucking industry. includes liability, trailer interchange (damage to customer's trailer), and phys damage

bobtail endorsement

provides coverage for non-trucking use when truck-tractor is not being used to haul or carry a trailer for others

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trailers borrowed or leased by named insured for which liability for loss has been assumed under a written trailer interchange agreement