(A) The following are the minimum insurance requirements to be kept and maintained by any licensee under this chapter at all times the license is in effect:
(1) Garage liability policy. A garage liability policy covering the operation of the licensee’s business, equipment, or other vehicles for any bodily injury or property damage shall be in the minimum of $100,000 for any one person injured or killed, a minimum of $300,000 for more than one person killed or injured in any accident, and an additional $50,000 for property damage; and
(2) Garage keeper’s policy. A garage keeper’s legal liability policy for each storage premises covering fire, theft, windstorm, vandalism, and explosion in the amount of $30,000 ($10,000 per claim per vehicle).
(B) 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.
(Prior Code, § 113.25) (Ord. passed 5-9-1989)