Umbrella Insurance Coverage (sometimes called Umbrella Liability Coverage)—Provides higher limits over and above your General Liability, Truck Liability (Auto Liability), Cargo Insurance, Uninsured Motorist, Medical Payments, Personal Injury Protection and/or Employers Liability primary insurance as well providing additional coverage.
This coverage protects you in situations where your business brokers or forwards a load to another trucking company that is insured. It can be applied to Truck Liability or Cargo Insurance for damage to a load when the hauling carrier’s insurance policy can’t or won’t pay all or part of the loss.
If you run a shop, tow vehicles, store equipment or containers owned by someone else, or let other truckers park in your lot, you could be responsible if something happens to their property. Garagekeepers Coverage provides physical damage insurance for trucks, tractors, or trailers that you do not own — but that are in your possession for towing, servicing, repair, parking, or storage as part of your garage business. It even covers the property of owner-operators.
And to help you maintain your relationships, we make Garagekeepers Coverage primary, meaning it will kick in before the vehicle owner’s policy, and it will compensate the owner even if you’re not responsible for the losses (if, for instance, they’re caused by hail or a tornado).
The Garagekeepers endorsement includes Property-of-Others Endorsement to insure your business when you’re working on someone else’s loaded trailer. It protects you against damages to their cargo, including theft. (Many people don’t realize that since it’s not your cargo, your policy doesn’t provide coverage.)
The Garagekeepers Coverage is subject to a per-loss limit of insurance, so you’ll want to get covered for your maximum potential loss at any one location.