Parking--Public--Not Open Air

What Does GL Code 46603 Cover?

ISO GL class code 46603 covers businesses operating public parking facilities that are enclosed or underground, specifically those not open-air. This classification applies to operations that manage parking garages, multi-story parking structures, and underground parking lots, where vehicles are stored for a fee. It encompasses the general liability exposures associated with the premises, operations, and completed operations of these facilities.

Who Uses This Class Code?

This code is primarily used by commercial parking garage operators, municipal parking authorities managing enclosed structures, and private companies that own or lease multi-level parking facilities. Businesses such as airport parking garages, downtown city parking structures, and underground parking for shopping centers or office buildings would fall under this classification.

Common GL Claims for This Class

Common claims for parking garages include slip-and-fall incidents on wet or uneven surfaces, vehicle damage due to collisions within the garage or falling debris, and theft or vandalism of vehicles parked on the premises.

Coverage Tips for Code 46603

• Ensure your policy includes adequate coverage for 'Garagekeepers Legal Liability' if you take custody of vehicles, as standard GL policies typically exclude damage to property in your care, custody, or control.
• Verify that your policy explicitly covers 'Slip and Fall' incidents, as these are highly prevalent in parking facilities due to uneven surfaces, spills, or poor lighting, and can lead to significant claims.
• Implement robust security measures, including surveillance and adequate lighting, and ensure your insurance policy acknowledges these measures, as they can impact your liability exposure and premium.
• In Florida, be aware of specific building codes and accessibility requirements for parking structures, as non-compliance can lead to regulatory fines and increased liability risks not always covered by standard GL.