ROBOTIC PARKING SYSTEMS REDUCE LIABILITY

Robotic Parking Systems are viewed by insurance companies as lower hazard / less risk and therefore, may be considered for lower insurance rates.

In discussions with top insurance companies that provide coverage for parking facilities, it was found that insurance underwriters preferred parking garages over open lots as an insurable risk. Conventional garages and parking lots are generally considered moderate to high hazard by insurance companies.

These same underwriters reviewed the design and processes of the Robotic Parking System and were very favorable. In a detailed review by Best Underwriting Guide, the Robotic Parking System was assigned a low hazard risk in several categories.

COVERAGE
OPEN
LOT
STANDARD
PARKING GARAGE
ROBOTIC
PARKING SYSTEM
Workers’ Compensation Moderate hazard due to exposure to traffic and crime. Higher hazard due to exposure to traffic, falls from elevators, crime. Lower hazard due to low traffic exposure, lower crime exposure.
Garage Keepers High hazard – thefts,
traffic, driver records.
Moderate
hazard due to building security.
Historically
was a higher exposure due to ineffectiveness of the driverless elevator
now considered low risk due to technology.
General Liability Low hazard
due to open space, good visibility but subject to trip and fall in potholes,
etc.
Higher hazard
due to elevator. Security breaches, and assumption of liability as operator.
Low hazard
due to better security from no outside access.
Property / Inland Marine High hazard – damage
to vehicles left in open lot. Wind / hail / theft.
Moderate
hazard due to protection from building. Theft still an issue.
Low hazard
due to limited access and protection of the building.      

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