There is no single formula, and the range is set by a handful of things: the replacement cost of your building and contents rather than their market or book value, your revenue and payroll, which are the exposure bases much commercial coverage is rated on, what any lease, loan, or client contract requires, and the claim severity typical of your industry. Contract requirements are the most common reason a limit changes. Because these are specific to the operation, review your individual needs with a licensed agent or qualified advisor.
Related FAQs
Typically not. Tools and equipment are usually addressed under other coverages we can review with you.
It generally refers to vehicles a customer has left with you. Garagekeepers is designed to respond when those vehicles are damaged while in your care.
Many auto businesses do, because they cover different exposures. We can help you decide based on how you operate.
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