What is the purpose of garagekeepers insurance?

Garagekeepers insurance is specifically designed to protect businesses that provide care, custody, or control of vehicles. This type of insurance typically covers liability for vehicles left in the insured's care, providing financial protection against damages that may occur while the vehicles are in the custody of the garage owner. This can include incidents such as theft, fire, vandalism, or accidents that may happen while the vehicles are being serviced or parked on the premises.

When businesses, such as auto repair shops or parking garages, take possession of a customer's vehicle, they have a responsibility to ensure its safety. Garagekeepers insurance helps cover the legal liability associated with these vehicles, offering peace of mind to both the business and its customers.

In contrast, the other options address different types of coverage that are not related to the specific services typically provided by garage operations. For instance, coverage of personal property pertains more to homeowners or renters insurance, while shipping insurance relates to the transport of goods. Equipment breakdown coverage focuses on protecting machinery and equipment rather than vehicles in a garage setting.