Help safeguard your business with garage repair shop insurance.
Insurance that’s as unique as the vehicles you work on.
While standard business insurance policies can be beneficial, they may not fully address the unique risks associated with a garage repair shop. The distinguishing factor of your business is the handling and storage of customers' vehicles, which introduces various risk elements. Therefore, obtaining a specialized garage repair shop insurance policy can provide essential protection for your business.
Different risks than most other businesses.
At a fundamental level, it is essential to safeguard against potential damage to customer vehicles that are kept on your property, regardless of whether such damage arises from fire, vandalism, theft, or other risks. Even if you are merely performing a routine oil change on a vehicle, the financial burden of replacing it could amount to tens of thousands of dollars, potentially jeopardizing the viability of your business.
What is garagekeepers liability insurance?
Garagekeepers liability insurance provides protection for the vehicles of your customers that are in your care, custody, and control, safeguarding them against damage resulting from negligence.
What types of specialty coverage can be added?
It may be prudent to evaluate various coverage options based on the specific operations of your repair shop, including insurance for body shops, repair shops, muffler shops, transmission repairs, and tow truck services.
Protection from claims of faulty repairs.
It is advisable to take into account professional liability insurance, which safeguards you against claims related to vehicle damage resulting from errors or omissions made by your employees. In severe cases, this coverage may encompass not only the expenses associated with rectifying the inadequate repairs but also any costs incurred from an accident attributed to the defective repair work.
Coverage for your garage and lost income.
It is essential to consider coverage for lost income as well. In the event of a fire occurring in your garage, relying solely on your insurer to cover the rebuilding costs of your workshop may not suffice if you simultaneously lose all your customers, resulting in irreparable damage to your cash flow. Securing lost income coverage can be crucial for your business to endure such a catastrophic event and continue operations. If you are in search of insurance for your garage repair shop to protect your business and investment, please reach out to us to discuss your coverage requirements and available options.