Garage Insurance |
Garage Insurance |
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How to insure Garages
This course will follow our agent as he prepares to call on Robby´s Garage. Robby is a friend from high school who took over his father´s business four years earlier. Robby had an uncovered loss and is very unhappy with his current agent. He trusts our agent because of their friendship but has never purchased any insurance coverage from him. Our agent values their friendship and wants to do the very best job possible but has never written a repair garage. You will learn why the answers given on an application affect coverage. It will help you be better able to explain your recommendations for coverage. I Bet the Named Insured Doesn't Own the Building! Have You Asked?
Never assume the named insured owns the building. You need to ask what seems like a ridiculous question because ownership of the building may be held by another "person" related to the operation. The president of the corporation may own the building personally, but in his mind there is no difference. Not protecting the actual owner can create a huge gap in coverage. |
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PROMOTIONAL VIDEO IN ENGLISH
click the book cover to download the tutorial in Pdf
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VIDEO PROMOCIONAL EN ESPAÑOL
Ability is greater than money because it can be neither lost nor stolen.
If you study the lives of very successful people, you will find that they rarely climb to the top of their business or profession and stay there. They often climb to the top and fall to the bottom several times during their careers, but they know that the one thing that got them where they are — their ability — is always there to help them reach the top again. Your ability is the one thing that you own exclusively. No one can ever take it from you. Faith is a combination of thoughts and actions.
When you apply your faith in yourself, your faith in your fellow man, and your faith in God, the result is a positive course of action that when persistently followed will almost always lead to success. When you believe in your ideas and in your abilities, and you trust in the Infinite Intelligence of the universe, you know that your thoughts and deeds will ultimately lead to a successful conclusion. You cannot fail. If you were your own employer, would you be entirely satisfied with the day’s work you have done today?
At the end of the day, it matters little what others think of you; what’s important is what you think about yourself. As you reflect on your day’s work, ask yourself, “Have I given 100 percent of my time and talents today? If this were my company, would I like it to be filled with hundreds of other people just like me, or would I prefer to hire individuals with a little more initiative?” When you have become the kind of person you would like to work with or have working for you, you aren’t far from the day when you will own the company — or at least become a valuable part of it. Most important, you can sleep soundly at night, serene in the knowledge that you have done your best, that you have earned your pay, and that you have met the standards of performance you require of yourself. |
Is Policy Language Always Sufficient?
Insurance policies are simply contracts and, when disputes arise, policy language is often relied upon to support arguments for or against coverage. This is a major reason why clear wording is very important. Court cases are a significant source that triggers changes in policy language. They may occur either through the impact of actual cases or indirectly through changes in law that have their origins in addressing wider spread situations on how insurance responds to certain types of losses. Examples involve confusion over water-related losses, concurrent causes of loss and confusion over how the word “insured.”
With regard to more parties being granted insured status, insurers recognize that coverage obligations should be extended under certain circumstances. However, carriers want to have sufficient knowledge of parties that they may be obligated to reimburse or defend against claims.
Click here for an excerpt of wording on “Who Is An Insured” found in the ISO Commercial General Liability’s coverage analysis in PF&M.
Insurance policies are simply contracts and, when disputes arise, policy language is often relied upon to support arguments for or against coverage. This is a major reason why clear wording is very important. Court cases are a significant source that triggers changes in policy language. They may occur either through the impact of actual cases or indirectly through changes in law that have their origins in addressing wider spread situations on how insurance responds to certain types of losses. Examples involve confusion over water-related losses, concurrent causes of loss and confusion over how the word “insured.”
With regard to more parties being granted insured status, insurers recognize that coverage obligations should be extended under certain circumstances. However, carriers want to have sufficient knowledge of parties that they may be obligated to reimburse or defend against claims.
Click here for an excerpt of wording on “Who Is An Insured” found in the ISO Commercial General Liability’s coverage analysis in PF&M.
Attention: Georgia Agents!
24 hours CE for $24 or join GIA for $99 per year and it's free for all agency staff!
Have you enjoyed at least 24 hours of Edu-Tainment?
If yes, you are welcome to take the Final Exam
Otherwise, continue to Lesson #22: Trucking Companies
24 hours CE for $24 or join GIA for $99 per year and it's free for all agency staff!
Have you enjoyed at least 24 hours of Edu-Tainment?
If yes, you are welcome to take the Final Exam
Otherwise, continue to Lesson #22: Trucking Companies
