A. Each listed towing company shall maintain the following insurance policies:
1. Garage Keeper's Policy: A garage keeper's legal liability policy covering fire, theft, windstorm, vandalism and explosion in the amount of fifty thousand dollars ($50,000.00), and providing that each vehicle suffering damage being deemed a separate claim.
2. Garage Liability Policy: A garage liability policy covering the operation of the owner's business, equipment or other vehicles for any bodily injury or property damage. This policy shall be in the minimum amount of two hundred fifty thousand dollars ($250,000.00) for any one person injured or killed and a minimum of five hundred thousand dollars ($500,000.00) for more than one person killed or injured in any accident, as well as an additional fifty thousand dollars ($50,000.00) for property damage.
B. Each policy required under this section must contain an endorsement by the carrier providing ninety (90) days' notice to both the village and the insured in the event of any change in coverage under the policy. (Ord. 2008-1303, 10-7-2008)