The specific protection offered by auto repair shop insurance policies can ensure that your business remains viable when threatened with a great deal of financial loss.
The different areas of coverage include those that are fairly standard and several options that are additional for fuller coverage. Most auto repair shop insurance providers offer package deals. These packages usually start with garage liability insurance and garage keepers’ insurance. These two forms of coverage offer a great deal of protection.
A garage liability coverage provides liability protection for the premises, operations and products of the repair shop. So, if a customer receives an injury within the shop or complains of faulty parts after a repair, this policy covers your business. If someone didn’t get hired as an employee and claims that discrimination was a factor in the decision, garage liability covers those costs.
Garage keepers’ insurance provides protection for the customers’ cars while they are in the care of the shop. This coverage is an extremely important part of your auto repair shop insurance policy.
There are several forms of protection you can add to the package once you have established your garage liability and garage keepers’ coverage. These additions include coverage for the property, automobiles owned and those not owned by the business, and for the portable tools belonging to the repair shop. Consider the addition of coverage for losses incurred while the shop is closed temporarily and coverage for workers’ compensation claims.