There are two things you need to be concerned about when you are in the business of repairing someone else’s car. First, you need to be concerned not only with fixing their vehicle. Secondly, you need to know what type of coverage does an automotive repair shop insurance need. For instance, what happens if the car is damaged in your care? Accidents happen and do you know if your mechanics insurance will cover that accident?
Your auto repair shop needs business insurance to protect your assets from risks associated with repairing other people’s vehicles. Our trusted agents will match you with the best auto repair business insurance in your area at a great rate. There are multiple types of insurance for auto repair shops to consider. We will break out the different types of insurance automotive repair shops need. Our trusted team will make sure your insurance is tailored to your needs.
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General liability insurance provides protection for most basic liability issues that a garage or auto repair shop could face. It protects mechanics from the costs of lawsuits related to accidents, property damage and a variety of other mishaps. You will want to consider garage liability insurance, which provides several forms of liability insurance for mechanics.
Garage keepers liability insurance protects you if a customer’s vehicle is damaged due to your negligence while it is in your care, custody or control. This protection is not included in the standard mechanic shop insurance.
Auto repair shop property insurance and/or business interruption coverage:
Property insurance protects you if a fire, vandalism, smoke, theft or other event damages your property. It provides coverage for lost inventory, equipment, computers and more. Most business property policies also include business income – or business interruption coverage. This pays for rent, employee salaries and other expenses if your shop must close temporarily due to an unforeseen disruption.
Auto repair shop crime insurance:
Crime insurance coverage protects your business from the cost of theft.
Workers compensation insurance for auto repair shops will provide benefits in case your employees are in an accident while at work. This will cover the cost of medical costs, rehabilitation and helps replace lost wages until they are able to return to work.
Chances are you or your employees are going to have to test drive the vehicles at your auto repair shop to ensure they are working correctly. In this case, you will have to have business auto insurance to protect your employees, your customers’ cars and your business in case an accident happens.
Business property insurance will protect your auto repair shop building. Automotive business insurance will provide additional coverage for the special equipment in case of a mechanical breakdown, power surge, burned out motors or if your employee accidentally causes the equipment to fail.
There are even additional options based automotive shop insurance costs that will customize to fit your unique needs. Professional Insurance Strategies is here to help educate and provide you with the best options for your business at the most affordable rate. Contact us today so we can get your started!
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