If you run a shop, do some towing, store equipment, store containers owned by others, or allow other truckers to park on your premises, you may be held legally liable for a loss to a non-owned auto. For example, when you are servicing an owner-operator’s tractor, that vehicle in your possession creates a bailment situation for which you can be held liable. This includes damage to the contents of the vehicle.
Great West’s Garagekeepers coverage provides physical damage coverage 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 operations.
Garagekeepers coverage is primary and will compensate the vehicle owner even if you are not responsible for the loss (such as a loss caused by hail or a tornado). This preserves goodwill, which is a valuable asset in your relationships with customers, owner-operators, or friends.
Great West has an added Property-of-Others coverage feature. If you are working on someone else’s loaded trailer, you can be liable for any damages caused to the customer’s cargo, including theft. Since it is not your cargo, your cargo policy will not respond. The Garagekeepers coverage and the Property-of-Others coverage are subject to a per loss limit of insurance. You will want to get coverage for your maximum exposure at any one location.This summary is intended for informational purposes only and does not replace or modify the definitions or information contained in any insurance policy or declaration page, which controls all coverage determinations. Terms and conditions may vary by state, and exclusions may apply.