As a condition for obtaining a permit and remaining on the rotation list, and in addition to complying with the financial responsibility requirements prescribed by G.S. § 20-309, permit holders must comply at all times with the following liability insurance requirements:
(A) Garage liability insurance providing coverage for bodily injury or property damage resulting from the use of a garage owner's vehicle must be in full force and effect. This policy shall have coverage limits of no less than $300,000 per occurrence and $900,000 aggregate.
(B) Applicants must obtain an endorsement to either their garage liability insurance or commercial auto liability insurance for on-hook coverage that covers damage to a vehicle while it's actually being towed.
(C) Garagekeeper's legal liability policy must be maintained in full force and effect in order to provide coverage for damages to vehicles, which the garage owner does not own, that are left in his or her care, custody, or control and are damaged because the garage owner negligently failed to protect the vehicle(s) from loss. This policy shall have coverage limits of no less than $100,000 per claim.
(D) Each policy required under this section must contain an endorsement by carriers providing ten days' notice to both the city and the insured in the event of any change in coverage under the policy.
(Ord. 09 ORD 02-08, passed 2-7-08; Am. Ord. 24 ORD 04-08, passed 4-10-08)