Solutions Specialty Insurance Brokers
Customized insurance programs for parking and valet operations designed around customer vehicles, liability, property, employees and business interruption risks.
When a customer hands over their keys, your valet operation takes on responsibility for that vehicle. A bailee relationship is created, meaning your business has care, custody and control of the customer’s car and may be held responsible for any resulting damage or injury.
These are just some of the typical risks parking operators face. Vehicle damage and injuries in a fast-paced environment can affect the success of any parking operation if they are not properly covered.
Who needs parking lot insurance? Any business that parks, stores or controls customer vehicles needs parking business insurance. That includes valet companies, self-park lot and garage operators, mixed self-park and valet facilities, and operators serving special events.
Parking lot insurance is not a single policy. It is a program of coverages matched to how your operation handles vehicles, customers, property and staff. A complete program can include:
Valet operations carry the highest vehicle exposure in the industry because attendants physically drive, park and retrieve customer cars. Valet parking insurance combines Garagekeepers insurance for customer vehicle coverage with Garage Liability and General Liability to address collisions, theft, key control errors and injuries caused while attendants are behind the wheel.
In self-park lots and garages, customers drive and park their own vehicles, but the operator still controls the premises. Self-parking insurance focuses on parking lot liability insurance for slip and fall claims, pedestrian injuries and premises conditions, along with property coverage for booths, gates, pay stations and equipment.
Many facilities run both self-park and valet service, and some add valet service at venues, hotels or private functions. Mixed operations need a single program that covers both exposures without gaps. Valet with special events is an eligible class, subject to approval of the event.
Eligible classes:
These two coverages are often confused, but they protect against different losses. Most valet operators need both.
Garage liability insurance covers auto-related liability arising from your parking operations. It responds when your business is held legally responsible for bodily injury or property damage to third parties, such as an attendant striking a pedestrian or another vehicle while moving a customer’s car.
Garagekeepers insurance covers physical damage to customer vehicles while they are in your care, custody and control. Depending on the coverage selected, it can respond to collisions during parking, theft from your lot, vandalism and similar losses. General Liability policies typically exclude property in your care, custody or control, which is why Garagekeepers is essential for any operation that takes customer keys.
Commercial General Liability protects your business against third-party bodily injury and property damage claims arising from your premises and operations, with limits available up to $2,000,000 per occurrence.
Oil spills, potholes, wet surfaces, uneven pavement and poor lighting create constant slip and fall exposure. Parking lot liability insurance helps cover medical costs, legal defense and settlements when a customer is injured on a lot or in a garage you control.
Parking facilities combine moving vehicles and foot traffic in tight spaces. General Liability, working alongside Garage Liability, helps protect your business when pedestrians are struck, when vehicles collide in drive aisles or when customers are injured by gates, barriers or equipment.
Protecting your employees: Parking work is physical and fast-paced. Workers’ compensation covers medical expenses and lost wages for employees injured on the job, and EPLI protects your business against employment-related claims such as discrimination and wrongful termination.
Property coverage protects the physical assets your operation depends on, including:
If a covered loss forces you to suspend operations, Business Income coverage helps replace the actual loss of business income during the shutdown so you can keep meeting your obligations while you recover.
Cities, counties and property owners may require parking operators to post a bond before operating a lot or collecting parking occupancy taxes. We provide Parking Lot Surety Bonds and Parking Occupancy Tax Collection Surety Bonds to help you meet these requirements.
New ventures are welcome. Start-up parking and valet businesses can secure both the insurance program and the parking lot surety bond needed to win contracts and begin operating.
Multi-location operations are welcome. Whether you manage several lots, garages or valet stands, we can structure coverage and bonding to support your growth under one coordinated program.
Parking and valet risks are specialized, and a generic business policy often leaves gaps, particularly around customer vehicles. As an independent broker, Solutions Specialty Insurance Brokers is not owned by any single insurance company. We represent several “A” AM Best rated carriers and compare options to find the right fit for your operation.
We evaluate your specific exposures, including operation type, vehicle volume, locations and staffing, and recommend coverage that fits. Clients benefit from:
If you are a valet or self-parking operator and need a professional evaluation of your insurance exposures, contact us, fill out our free quote request form or call 323-771-0777. We will review your situation and recommend the right insurance solutions from our “A” AM Best rated carriers.
Parking lot insurance is a package of commercial coverages that protects parking and valet operators against liability claims, damage to customer vehicles, property losses and employee injuries. A typical program combines General Liability, Garage Liability, Garagekeepers, property and workers’ compensation coverage.
Most parking lot businesses need Commercial General Liability, Garage Liability, property coverage for buildings and equipment, Business Income coverage and workers’ compensation. If the business takes customer keys, Garagekeepers coverage is also essential. Some locations may also require a parking lot or parking tax collection surety bond.
Valet businesses need Garagekeepers coverage for customer vehicles, Garage Liability for auto-related liability, General Liability for premises injuries, workers’ compensation for attendants and, in many cases, EPLI. Valet coverage for special events is subject to approval of the event.
Garagekeepers insurance covers physical damage to customer vehicles while they are in your business’s care, custody and control. Depending on the coverage selected, it can respond to losses such as collisions during parking, theft and vandalism.
Yes. Garagekeepers is designed specifically to cover customer vehicles in your care, custody and control. General Liability policies typically exclude this type of property damage, which is why any operator that takes customer keys needs Garagekeepers coverage.
Yes. Commercial General Liability, part of a parking lot insurance program, covers slip and fall claims from customers injured on premises you control, including medical costs, legal defense and settlements, subject to policy terms and limits.
Yes. New ventures are welcome. We work with start-up parking and valet businesses to build a complete insurance program and provide any required parking lot or parking tax collection surety bonds.
Parking insurance cost depends on your operation type (valet, self-park or mixed), number of locations, vehicle volume, coverage limits, payroll, claims history and years in business. Preferred established businesses may qualify for discounts. Request a free quote for pricing based on your specific operation.
Solutions Specialty builds comprehensive programs through several “A” AM Best rated carriers so your operation is protected against the risks unique to the parking industry. If you are a valet or self-parking operator and need a professional evaluation of your insurance exposures, contact us, fill out our free quote request form or call 323-771-0777.
Get a Free Parking & Valet QuoteCall (323) 771-0777
Maywood: 4445 Slauson Ave, Maywood, CA 90270 | Corona (by appointment): 4160 Temescal Canyon Rd Ste 401, Corona, CA 92883
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