A Simple Plan: Professionals
Everything You Need to Know About Auto Shop Insurance
An auto shop insurance is business insurance that auto repair shops and garages should get. Having this type of insurance means that your assets are protected from potential risks that are associated when repairs are made on other vehicles. No matter how simple the injury, property damage, or error may be, it always results to a costly lawsuit or claim. These risks should be far from your concern with a good auto shop insurance plan that will look after your needs to keep your business functioning in the long term.
You get to enjoy a lot of benefits when you have your auto repair shop covered with the right business insurance plan. Compared with an uninsured auto repair shop, if you are insured, customers will come running to you to entrust their vehicles to you. Speaking of trust, customers go to your shop to not just have their cars fixed but to keep them safe as your shop has them. Their trust is hard to come by. With a good auto shop insurance, you can ensure their trust.
The risks that are inherent in your business are another reason to obtain a comprehensive auto shop insurance plan. These business risks include slips and falls; faulty parts or workmanship; worker injury or illness; theft, vandalism, bad weather and fire; employee crime or theft; business interruption; and damage to a customers vehicle while in your care.
For the risks just mentioned, you need to enjoy a range of business insurance policies. To protect the property of your customers, you also have the garage liability insurance plan. A garage keepers insurance can also ensure to protect your business in case of property damage, injuries, and accidents.
Prior to signing up for an auto shop insurance plan, you have to work closely with an independent insurance agent so your needs are determined.
If you get the basic auto shop insurance plan, your property can be protected from theft, smoke, vandalism, and fire and other damages. It covers any lost inventory, computers, office equipment, and more. Business interruption or business income coverage is also a given among most business property policies. There may be unforeseen disruptions that would lead to your shop closing temporarily, this insurance will have your employee salaries, rent, and other expenses covered.
In the case of liability issues that you must deal with, commercial general liability insurance can keep you protected. It protects you from the costs of lawsuits associated with property damage, accidents, and other mishaps. For your auto body shop or garage, it would be best to get a garage liability insurance specifically.
A business owners policy is a package that is made for small businesses. For the best deals on insurance, this complete policy package will have your liability, property, and business interruption covered.