§ 102-127. Insurance requirements.

(a)

Policies. No wrecker license shall be issued until the applicant has deposited with the chief of police 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 $10,000.00, with 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 of $100,000.00 for any one person injured or killed and a minimum of $300,000.00 for more than one person killed or injured in any accident, and an additional $50,000.00 for property damage.

(b)

Notice of change. Each policy required under this section must contain an endorsement by the carrier providing 30 days' notice to both the town and the insured upon any change in coverage under the policy.

(Code 1985, § 114.05; Code 1999, § 98-135; Ord. of 3-20-2006(3), § 1)