Final answer:
The correct option is d. all the above.
The TRUE statement regarding the auto dealers' physical damage coverage under a Garage policy is that all the above-listed options are correct. It provides a blanket limit for covered autos, applies specifically to garage operations and auto dealers, and covers loss or damage to autos in inventory.
Step-by-step explanation:
The statement from the options provided that is TRUE regarding the auto dealers' physical damage coverage under the Garage policy is d. all the above. The coverage typically includes a blanket limit for covered autos, which is a single limit that applies to all autos under coverage rather than a specific limit for each individual auto. This coverage is indeed specific to garage operations and auto dealers, designed to protect businesses that have operations including the sale, servicing, repairing, parking, or storing of vehicles.
Finally, the protection it offers for loss or damage to autos in inventory is a critical aspect of the coverage, safeguarding the inventory which is a significant asset for auto dealers. In summary, as an insurance product tailored for auto dealerships and garages, this policy serves as essential protection against a range of risks inherent in such businesses.