RAPID
SPECIALISTS
How do you insure your garage?
A garage owner needs to have sufficient insurance to cover all the risks associated with this profession. These include in the event of theft or damage to customer vehicles.
If this type of incident is not covered, customer confidence will be undermined, and with it the reputation of the garage owner and his or her reputation in the industry. That's why it's so important, even urgent, to take out a garage insurance policy known as FPQ4. insures both vehicles owned by the garage than those for which it is responsible.
Such insurance can be taken out not only by garages but also by hotels offering valet services, car washes, towing companies, used-vehicle dealers and more. If you're responsible for other people's vehicles, you'll want to take out a garage policy.
Well-insured garage
The law stipulates that auto insurance must be taken out on structures with entrusted vehicles. A closer look at this law reveals the mandatory nature of liability insurance, which is detailed in Chapter A. One article underlines the responsibility of the company in charge of other people's vehicles, in the event of damage or injury. On the other handhomeowner's insurance of the automobile becomes optional.
The Formule de Police du Québec no 4 is very similar to a FPQ1 type of car insurance and is presented as follows:
Special conditions
Nature and scope of insurance
Chap A: Civil liability
Chap B: Damage to owned vehicles
Division 1: All risks
Division 2: Collision
Division 3: Comprehensive accident
Division 4: Designated risks
Section C: Third-party liability for damage to entrusted vehicles
Division 1: All risks
Division 2: Collision
Division 3: Comprehensive accident
Division 4: Designated risks
Miscellaneous provisions
General provisions
Endorsements
The special conditions section contains all the basic information on the insurance contract. In fact, all the beneficiary's establishments must be listed. In addition to details of the activity carried out, given that the insurance applies to vehicles used in the course of these activities.
Chapter A deals with third-party liability, which is triggered to cover property damage or bodily injury caused to others and involving the vehicles owned by the beneficiary or which are under its responsibility but belong to third parties. This insurance is compulsory, and without it, you can't drive on Quebec roads. This coverage is usually indicated on the famous pink cards.
Chapter B covers damage to automobiles owned by the insured. Such insurance is very similar to car warranty the usual FPQ1. The only difference is that the garage policy specifies maximum indemnity amounts for divisions 1, 3 and 4, excluding collision. In other words, the insurance policy must specify the total value of the fleet covered, in order to qualify for compensation in the event of a claim.
This part of the garage insurance also outlines exclusions, notably for tire damage, mechanical breakdown and any maintenance-related damage unless directly related to the insured loss.
Section C covers damage to automobiles entrusted to the policyholder's care and therefore under his or her responsibility. This section includes four divisions, as well as the maximum indemnities payable in the event of a claim for divisions 1, 2 and 3, excluding collision.
You'll need a sufficient business insurance to cover all vehicles liable to damage, such as vandalism. It is also important to anticipate situations where the insured may have more vehicles under his or her responsibility. This is a very important precaution, to ensure that you are not penalized for insufficient coverage for the full amount in your possession at the time of inventory.
Some insurers add a FAQ 4-70 to garage insurance. This practice excludes automobiles owned by the insured, thereby reducing the scope of the QOF4 and the premium generated.
Garage vehicle
Obviously, the insured must take out additional insurance to cover his own vehicles, by taking out a FPQ1. This will ensure a more attractive premium. Obviously, it's best to check with your broker which insurance formula or combination is the most advantageous, both in terms of coverage and rates.
Garage insurer
In conclusion, garage insurance has a number of special features compared withstandard vehicle insurance. It's a good idea to talk to your insurer and get more details and clarifications before taking out this policy or resorting to supplementary car insurance.
Car wash insurance
If you own a car wash, Assur360 can insure your business with advantageous coverage. Our brokers have excellent knowledge of the risks associated with automatic or manual car washes.
Garages in Canada are eligible for special insurance to cover their business in line with their needs and expectations. This type of coverage applies to garages, repair shops, mechanics' shops, tire and car accessory sales outlets, not to mention car washes.
Such professionals need only request a quote to immediately obtain offers that correspond exactly to their respective situations. Every garage owner can request a quote free of charge and without obligation.
