Question

34. An owner of a parking lot wants liability coverage for damage to vehicles while in her custody. She needs

(Choose from the following options)
1. Motor carrier coverage.
2. Business auto coverage.
3. Garage liability coverage.
4. Garagekeepers coverage.

Answer 1

The owner of the parking lot needs garagekeepers coverage.

Step-by-step explanation:

The type of coverage the owner of the parking lot needs is garagekeepers coverage.

Garagekeepers coverage is a form of insurance that protects against damage to customers' vehicles while they are in the care, custody, and control of the insured. It is specifically designed for businesses that provide parking or storage services for vehicles, such as parking lots or repair garages.

This coverage is different from other types of insurance, such as motor carrier coverage, business auto coverage, or garage liability coverage, which serve different purposes in the insurance market and may not be suitable for the specific needs of a parking lot owner.