Definition of "Garage insurance"

Misti  Griffin real estate agent

Written by

Misti Griffinelite badge icon

Fortress Real Estate Associates LLC

Coverage for bodily injury, property damage or destruction, for which the insured garage and/or its representatives become legally liable resulting from the operation of the garage. For example, negligent repair to a customer's automobile brakes cause them to fail, thereby injuring the driver. The garage faces a liability suit for perhaps three types of damages: special, general, and punitive.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Procedure under which the ceding company (the primary or fronting company) cedes the risk it has underwritten to its reinsurer with the ceding company retaining none or a very small portion ...

Type of organization of property and casualty insurance companies whose objective is to share information on fraudulent claims, handle claims in an expeditious manner, and disseminate ...

Case where an insurance company is placed by the state court under the control of the state insurance department. Claims are paid in the order filed until the insurance company's ability to ...

Sum of insurance provided by a policy at death or maturity. ...

Company that provides access to the internet through electronic communications. ...

Coverage for defense costs incurred in defending a company from an unfriendly takeover attempt. Hostile takeovers have been one of the hottest business topics in recent years. Vulnerable ...

Person covered by insurance under a blue cross or blue shield plan. ...

Association of life insurance agents who meet minimum life insurance sales standards predetermined each year by the organization. Membership is a primary goal of professional life insurance ...

Risk management practice designed to control losses by physically separating assets or operations (on separating a single exposure unit into various parts) to reduce maximum potential loss. ...

Popular Insurance Questions