subject: Finding The Best Insurance Options For Auto Repair Shops [print this page] Auto repair shops can be a dangerous place, due to the heavy machinery, tools, and solvents and chemicals associated with this type of business. Auto repair shop insurance can provide the comfort and protection needed when something doesnt go quite right. Whether its a complaint about a vehicle being damaged, or a customer or employee having an unfortunate slip and fall, resulting in an injury, it is vital that the business carry the protection to ensure that the doors remain open.
Just as there are many auto repair shops to choose from, there are also a lot of places that service garages can go to find insurance. What makes a good auto repair shop is its reliability, know-how, experience and having the trust and confidence that the work will get done right. The same applies for the insurance one needs for auto repair shops. Consult with an independent agency that knows the ins and out of the industry and what exposures need to be covered, one that has the experience of insuring the risks a body shop faces. One that can provide you with a list of other operations insured by the agency.
Consider what types of insurance will be needed for maximum protection
In looking at the types of insurance a garage needs, an experienced agent will consider several important issues, such as:
Protection from theft
Customer property in care, custody and control
Liability exposures on the premises
Workers comp for the employees
Company vehicles that may also need to be insured
Value of Business property
Loss income should the operation be forced to close or temporarily move locations because of a covered peril, such as a fire
Coverage available to Auto repair businesses typically include:
Garage Liability Protection: $1,000,000 per incident, $2,000,000 aggregate per year
Garage Contents Coverage: includes inventory, tools and shop equipment
Garagekeepers Shield: covers unforeseen losses to a customers cars
Business Interruption Insurance: helps recovery during any downtime
Crime Indemnity
Sign Protection
Computer Hardware Security
Hired and Non-Owned Auto Liability
Blanket Additional Insured at no cost
An independent insurance agent with experience in insuring auto repair shops can go over each of these coverages, the amounts one needs, including deductibles and additional enhancements that may be required depending on the specific needs of the operation.
by: Joan A. Martinez
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