600 North Broadway
Fixing cars can be tough, and any mechanic shop owner knows that many things can go wrong on the job. It's essential to have the right auto repair shop insurance, protecting your business, your employees, and your customers' property in case of an accident or incident.
Finding the right policy, one with enough coverage to protect your business, can be confusing, and there's a lot of small print. An experienced insurance agent familiar with mechanic repair shop insurance can help you find the best policy for your needs.
Every auto repair shop needs commercial property insurance, a general liability policy, and insurance to cover errors and omissions. If you have employees, you are required by law to carry workers' compensation insurance. If you store client information electronically, you'll also need cyber liability.
Because mechanic repair shops work directly with valuable customer assets, there are some unique risks to the business, and thus the need for special kinds of auto body garage insurance.
All businesses will need general liability insurance, too, or a Business Owner's Policy (BOP), which covers liability, business interruption, and repairs or rebuilding in cases of a "covered peril" or a natural disaster such as a fire or flood.
Garage Liability Insurance is a policy held by repair shops and car dealerships to cover bodily injury and property damage caused by business operations. It's a type of umbrella insurance policy, a specific policy purchased in addition to general business insurance to cover mechanics and auto-related incidents and accidents.
This specific coverage includes damages suffered from direct garage operations and the day-to-day operation of the repair side of the business. It's an additional layer of protection on top of the shop's general business liability policy. The coverage includes property damage and bodily injury that occurs directly as a result of garage operations.
Not all mechanic shop repair policies have the same coverage, both the specifics of what's covered and the amounts. It's best to consult with an insurance provider who understands the distinctions between different policies.
The garage liability insurance should add to, not replace, your general coverage. It should also cover customers on business grounds, in designated areas, and their property (usually vehicles). If you have parts delivery trucks or courtesy vans, you may also wish to include your company vehicles in this policy.
Garage liability plans don't cover the building, tools and equipment, or the business or personal property of the business owner. You'll need a separate policy, and the team at Thiess Agency can help you with that.
Garage liability insurance is a specific umbrella policy for:
This car repair business insurance covers damages specific to the operation of these businesses, both property and bodily injury.
If you aren't sure whether or not you need additional liability coverage, book a business consultation with Thiess Agency. We can help you better understand your current plan and conduct a thorough business analysis to determine how much additional coverage you require. Auto mechanic work can be dangerous, so it's always better to be prepared. Call us today to schedule your appointment!