Industry Code: 51701
This industry includes businesses that operate parking lots, parkades or storage garages offering parking on an hourly, daily or monthly basis.
Operation Details:
Parking lots are ground level, open lot facilities, that may be supervised by an attendant who checks vehicles in and out of the lot, as well as charges a fee to the patron for use of the parking space.
Parkades are enclosed structures with similar supervision and fee collection activities.
Storage lots are businesses that generate revenue through the long term storage of vehicles.
These businesses will employ lot attendants, coin collectors, equipment technicians and basic maintenance staff. Facility repairs and improvements are usually contracted out.
Underwriting Considerations:
Storage lots that sell insurance write-offs or other cars are classified in industry 65600, Sale of New and Used Vehicles.
Businesses that offer public self-storage or mini-storage facilities are classified under industry 89702, Property Management.
Premium Rate History:
Activities:
Parkades, Operation of
Parking Lots - Operation of
Storage Garages
Rate Group History:
This rate group was established in 1995.
This industry includes businesses that operate parking lots, parkades or storage garages offering parking on an hourly, daily or monthly basis.
Premium Rate History:
Activities:
Parkades, Operation of
Parking Lots - Operation of
Storage Garages
Operation Details:
Parking lots are ground level, open lot facilities, that may be supervised by an attendant who checks vehicles in and out of the lot, as well as charges a fee to the patron for use of the parking space.
Parkades are enclosed structures with similar supervision and fee collection activities.
Storage lots are businesses that generate revenue through the long term storage of vehicles.
These businesses will employ lot attendants, coin collectors, equipment technicians and basic maintenance staff. Facility repairs and improvements are usually contracted out.
Underwriting Considerations:
Storage lots that sell insurance write-offs or other cars are classified in industry 65600, Sale of New and Used Vehicles.
Businesses that offer public self-storage or mini-storage facilities are classified under industry 89702, Property Management.
Rate Group History:
This rate group was established in 1995.