What is a BAP policy?

Business Auto Policy (BAP) — a commercial auto policy that includes auto liability and auto physical damage coverages; other coverages are available by endorsement.

What does a garage policy cover that a BAP does not?

Garage liability insurance will not cover the tools, building, personal, or business property of the policyholder. It does not provide coverage for vandalism, stolen vehicles, or damage from events such as hail. The policy does not cover accidents or damage to the customer’s cars on-site for service.

What is covered under a business auto coverage form?

The business auto coverage form includes two types of coverage: auto liability and physical damage. Additional forms of coverage may also be added by using so-called “broadening endorsements,” which are a type of coverage enhancement that can be added to an insurance contract.

What are loss conditions of the BAP?

The BAP offers three types of physical damage coverage: Comprehensive. Covers loss to a covered auto by any cause other than the vehicle’s overturn or its collision with another object. Examples are theft, hail, and vandalism. Specified Causes of Loss.

How is lost or damaged property valued under the BAP?

How is lost or damaged property valued under the BAP? The most the insurer will pay for damaged or stolen property in any one accident, is the lesser of the ACV or the cost of repairing or replacing with property of like kind and quality.

What insurance do I need to run a garage?

For that reason, all service and repair garages should have road risks insurance. Road risks insurance protects customer vehicles in your care while you are driving them. It can be taken on a third-party, third party fire and theft, or comprehensive basis.

What’s the difference between garage liability and garage keepers?

Garage liability protects your business from liability if a covered accident happens in the course of business operations. Garagekeepers liability insurance helps pay for covered damages to the customer’s vehicles.

What is symbol 30 on a garage policy?

Symbol 30 covers any customer’s auto left with the named insured for service, repair, storage or safekeeping. This symbol would be used to “trigger” the garagekeepers coverage. Symbol 31 covers dealers “autos” and “autos” held for sale by non-dealers or trailer dealers. This is used for physical damage coverage.

What is symbol 29 on a garage policy?

Symbols 21 through 26 provide vehicle automatic coverage. Symbol 21 includes Hired and Non-Owned auto coverage. If symbol 21 is not used and Hired Auto (symbol 28) or Non-Owned Auto (symbol 29) coverage is desired, those symbols must be checked. The symbols indicate the automobiles to which each coverage applies.

Who is not covered under a business auto policy?

Employer’s Liability Your auto policy excludes claims by employees against your business for injuries sustained on the job. Such claims are excluded because they are covered by the Employers Liability section of your workers compensation policy. The employers liability exclusion contains two exceptions.