If you own or manage a car park, it's essential to have insurance to solve issues. Commercial trucking businesses might ask for proof of insurance before working with you. Also, the automobiles that the valet brought to you for safekeeping might sustain damages. In such situations, car park insurance can help. This ensures you meet contract requirements and have enough financial backup to cover lawsuits aggrieved third parties file.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
General liability insurance for car park owners covers liability claims from accidents and other unfortunate events. It protects car park owners from third-party property or bodily injury claims. Depending on vehicle park size, coverage limits range from $1 million to $5 million. This insurance for car park owners usually covers:
Slip and fall accidents–If a visitor or client slips, trips, or falls in the car park, the insurance can cover medical costs and legal claims
Property damage–If a vehicle or other property is damaged in the car park, the insurance can cover repairs or replacements
Personal injury–The insurance covers legal fees and damages if the car park owner or staff are accused of defamation, false arrest, or invasion of privacy
Advertising injury–If the car park owner's advertising or marketing mistakenly infringes someone's copyright or trademark, the insurance can pay the legal claim.
Product liability–If the car park owner offers extra services or sells products on-site, the insurance can cover claims if a customer is injured
Umbrella liability insurance provides additional coverage above the general liability policy limits to defend against catastrophic claims.
Hired and non-owned auto liability coverage that covers the cost of accidents caused by hired or borrowed tow trucks and other vehicles
Pollution liability coverage for environmental damage caused by the car park operations
This car park liability insurance is not mandatory for all car parks. Nonetheless, it’s best to purchase this policy to comply with client insurance requirements.
Garage keepers liability insurance offers protection against damages to customers' vehicles while in the car park's care, custody, and control. This policy is crucial for car park operators who provide valet or parking attendant services. Coverage limits for garage keepers' liability insurance typically range from $50,000 to $1 million. Here are specific situations where general liability insurance can help:
Accidental damage to a customer's vehicle during parking or retrieval
Theft or vandalism of vehicles while under the car park's control
Fire or explosion causing damage to parked vehicles
Damage caused by negligent driving of car park attendants
Loss of keys resulting in unauthorized access to parked vehicles
Water damage due to leaks or flooding within the car park
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| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
This insurance covers physical assets, including the car park structure, equipment, and signage. This policy protects against damages caused by fire, theft, vandalism, severe weather, and other covered perils. Coverage limits for commercial property insurance vary based on the value of the insured property. Specific situations where commercial property insurance can help are:
Damage to the car park structure due to fire or explosions
Storm or hail damage to the car park roof or exterior
Water damage caused by burst pipes or flooding
Liability for third-party injuries caused by property defects or hazards
Business income coverage to compensate for lost income during repairs or closures
Equipment breakdown coverage for the repair or replacement of damaged equipment
Flood insurance to protect against damages caused by flooding
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A business owner's policy (BOP) combines general liability insurance and commercial property insurance into a single package, providing comprehensive coverage for you. This policy offers convenience and cost savings compared to purchasing the coverages separately.
The coverage limit for BOP is $300,000-$2 million for the general liability coverage and $25,000-$60,000 for the commercial property coverage. Business owner's policy can help in these specific situations:
Slip and fall accidents within the car park premises
Property damage caused by fire, theft, or vandalism
Personal injury claims resulting from negligence or inadequate maintenance
Damage to customers' vehicles while under the care of the car park
Business interruption due to property damage or closures
Legal expenses associated with lawsuits related to car park operations
Cyber liability insurance to protect against data breaches and cyber attacks
Employment practices liability insurance for claims of wrongful termination, negligent hiring, failure to promote, and other violations of employee rights
Umbrella insurance for additional liability coverage beyond the policy limits
The advantage of a business owner's policy (BOP) is that it combines general liability insurance and commercial property insurance into a single package. Bundling these coverages can provide convenience, cost savings, and comprehensive protection for car park owners. It simplifies insurance management and adequately covers liability and property risks.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
The insurance covers the valuable tools, machinery, and equipment you use daily. Coverage limits for tools and equipment insurance vary based on the value of the insured items. However, typical coverage limits range from $1,000 to $10,000. Specific situations where tools and equipment insurance can help are:
Damage caused by accidents or vandalism to valuable machinery
Loss of tools due to fire, floods, or other covered perils
Breakdown or mechanical failure of equipment requiring repair or replacement
Damage to tools or equipment during transportation or loading/unloading
Loss of revenue due to equipment downtime or unavailability
Inland marine coverage for tools and equipment used off-site
Business income coverage to compensate for lost income during equipment downtime
Equipment breakdown coverage for repair or replacement of damaged machinery
The insurance benefits your employees who are injured or become ill due to their job. It typically covers medical expenses, lost wages, and rehabilitation costs. In some cases, it may also provide death benefits to the employee's family. Here are some specific situations where workers' compensation insurance can help:
Slip and fall accidents suffered by employees while on duty
Back or muscle strains from lifting heavy objects or performing physical tasks
Injuries caused by vehicle accidents within the car park premises
Exposure to hazardous chemicals or substances leading to health issues
Repetitive motion injuries from tasks like operating equipment or typing
Work-related illnesses due to exposure to environmental factors
Employer's liability coverage to protect against lawsuits related to workplace injuries
Medical management programs to facilitate effective injury treatment and recovery
Disability insurance provides additional benefits if you become disabled due to a workplace injury or illness
The need for workers' compensation insurance depends on the specific state regulations and the number of employees. In many states, workers' compensation insurance is required even for part-time employees. It's essential to consult with local regulations to determine the requirements for your car park business.
Excess liability insurance provides additional liability coverage beyond the limits of your primary liability policies, such as general liability insurance. This policy offers higher coverage limits to protect your business from catastrophic incidents or lawsuits.
Coverage limits for excess liability insurance typically start at $1 million and can extend to $10 million, depending on your specific needs and the car park insurance provider.
While general liability insurance provides essential coverage, it may not be sufficient for a catastrophic incident or high-value lawsuit. Excess liability insurance offers additional coverage beyond the limits of primary policies, providing an extra layer of protection and peace of mind for car park owners.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $36 | $432 | $0-$500 |
| Excess liability insurance | $40 | $480 | $500-$1,000 |
| Commercial property insurance | $60 | $720 | $1,000-$2,000 |
| Business owner’s policy | $90 | $1,080 | $1,500 |
| Tools and equipment insurance | $37 | $444 | $500-$1,000 |
| Workers compensation insurance | $110 | $1,320 | $2,000-$5,000 |
The average car park insurance cost is $36 per month or $432 per year for a $1 million general liability insurance. Factors affecting premiums are:
Type and size of car park–The type of car park–whether it's an open lot, a multi-level structure, or an underground facility–can impact the insurance cost. The size of the car park, including the number of parking spaces and the overall square footage, is also considered
Location–The location of the car park plays a significant role in determining the insurance cost. Factors such as the crime rate in the area, proximity to high-risk zones, and exposure to natural disasters can influence the premium amount
Coverage limits–The coverage limits you choose for your car park insurance will affect the cost. Higher coverage limits provide greater protection but may result in higher premiums
Deductible amount–The deductible is the amount you pay out of pocket before the insurance coverage. Opting for a higher deductible can lower the insurance premium, but you'll have a higher initial expense in the event of a claim
Insurance provider–Different insurance providers have varying pricing structures and underwriting guidelines. Obtaining quotes from multiple providers to compare prices and coverage options is recommended. Start by clicking the “Get Quotes’ button on this page
Risk assessment–Insurance companies assess the risk associated with your car park, considering factors such as previous claims history, safety measures implemented, security systems in place, and maintenance practices. A lower-risk car park may result in lower private car park insurance premiums
In connection, here’s a table showing the cost of a $1 million general liability insurance from the best car park insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $22 | $264 | Best overall; Fastest general liability insurance for car parks |
| The Hartford | $24 | $288 | Comparing car park insurance quotes online |
| CoverWallet | $26 | $312 | Workers compensation insurance for cark parks |
| Tivly | $28 | $336 | Comparing car park insurance quotes over the phone |
| Thimble | $30 | $360 | On-demand coverage for cark parks |
| Hiscox | $32 | $384 | Car park insurance with worldwide coverage |
Get all the best quotes from leading providers in a click of a button!
Here are the best car park insurance companies worth considering. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for car parks
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT offers the policies for your car park 100% online. Choose from various options such as general liability, commercial property, workers compensation, and more. Nonetheless, it’s best not to choose and buy all to enjoy a premium discount.
Best for: Best overall; Fastest general liability insurance for car parks
Average cost: $22 per month
Our rating: 10/10
Compare quotes online
Offers 24/7 customer support and claims assistance
Easy-to-use online platform for obtaining and managing insurance coverage
Not an insurance company but an insurance broker
CoverWallet offers a variety of policies to suit your unique needs, including general liability, property damage, and professional liability coverage. This company allows you to compare the quotes for these policies online. Moreover, you can view present policy limits through the MyCoverWallet dashboard.
Best for: Comparing car park insurance quotes online
Average cost: $24 per month
Our rating: 10/10
Multiple coverage options
Renowned company for workers compensation insurance
Helps you find a short-term coverage in partnership with Tivly
Expensive premiums
The Hartford is a highly reputable insurance provider known for offering various coverage options. You can purchase general liability, commercial property, and business owner's policy. Hiscox also underwrites workers compensation insurance. The Hartford also sells short-term general liability insurance in partnership with Tivly.
Best for: Workers compensation insurance for cark parks
Average cost: $26 per month
Our rating: 10/10
Additional insureds can be added to the policy at no extra cost.
Compare quotes online
A partner of many reputable insurance companies
You have to talk to a representative to get a quote
Tivly is a relatively new player in the insurance industry, but they have rapidly established itself as a broker of cost-effective and extensive coverage choices. This company doesn’t underwrite any policies. Instead, it takes you to the top insurance companies. Tivly helps you find comprehensive protection and the right price. Call now to compare quotes over the phone.
Best for: Comparing car park insurance quotes over the phone
Average cost: $28 per month
Our rating: 10/10
Sells short-term general liability insurance
Numerous add-ons to general liability insurance
Up to $500,000 commercial property coverage limit
You can’t reach customer service by calling
Thimble is a unique insurance company focused on offering on-demand coverage. They specialize in providing general liability insurance that can be customized to meet your specific needs. Your policy can be purchased for a specified duration, from hours to days or weeks.
Best for: On-demand coverage for cark parks
Average cost: $30 per month
Our rating: 9/10
With nearly 120 years of industry presence, this insurance company showcases a rich history and substantial expertise
Worldwide coverage
14-day money-back guarantee
Limited bundling options
Hiscox provides business owner's policies in 43 states and Washington, D.C. They streamline the process by offering a brief questionnaire to assess your business's insurance requirements. Once completed, you can receive a customized quote and make an informed decision about purchasing the policy.
Best for: Car park insurance with worldwide coverage
Average cost: $32 per month
Our rating: 9/10
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
It really can't get any better than this... wow
Not all those who wander are lost.
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