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What is it? Garage Keepers Insurance (GKI) is an optional coverage that can be added to your business insurance policy to protect your customers' vehicles while they are in your care, custody, and control. This is essential for any service and repair shop in Florida, as it helps mitigate financial risks and protects your reputation. Why do you need it? As a service and repair shop in Florida, you are legally responsible for any damage that occurs to a customer's vehicle while it is in your possession. This includes damage caused by your employees, theft, vandalism, or even natural disasters. Without GKI, you could be on the hook for costly repairs or replacements, which could significantly impact your business. Types of Garage Keepers Insurance Coverage: There are three main types of GKI coverage: Legal Liability: This is the most basic and least expensive option. It covers damage to a customer's vehicle only if your shop is legally liable for the damage. Examples includ...
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