Parksmart Valet Insurance

Parksmart Valet Insurance

Commercial General Liability Insurance
Commercial General Liability Insurance shall be provided with a minimum bodily injury and property damage per occurrence limit of $1,000,000 for Coverage A (Bodily Injury and Property Damage) and coverage B (Personal and Advertising Injury); and $1,000,000 product/completed operations limit of liability. The policy shall contain the following provisions.

  1. Blanket contractual liability coverage for liability assumed under this Parking Agreement
  2. Independent Contractors
  3. Fire Legal Liability with a minimum limit of $100,000
  4. Medical expense coverage with a minimum limit of $5,000 anyone person
  5. Additional Insured will be named
  6. Thirty (30) day Notice of Cancellation in favor of the named additional insured
  7. Waiver of Transfer of Right of Recovery Against others in favor of the named additional insured

Commercial Crime Insurance Coverage
Commercial Crime Insurance Coverage shall be provided for all losses emanating from the handling of the City’s money and securities, including but not limited to losses resulting from dishonest or criminal acts, fraud, embezzlement, forgery, misappropriation or loss of funds and errors in the processing or reporting of funds. This policy shall be written for a minimum limit of $1,000,000.

Business Automobile Liability Insurance
Business automobile liability insurance shall be provided for all owned,non-owned and hired vehicles with a minimum combined single limit of $1,000.000.

Workers Compensation
Workers compensation insurance shall afford coverage with limits consistent with statutory benefits outlined in the Workers Compensation Act and minimum policy limits for employer’s liability of $100,000 bodily injury each accident, $500,000 bodily injury by disease policy limit and $100,000 bodily injury by disease each employee.

Financial Insurance