Being an auto repair shop owner means that you wear many different hats throughout the day. You are a point of contact for customers, a mentor to your team and the person who is ultimately responsible for holding everything together. With all of that responsibility on your plate, there is great comfort in knowing that your employees, customers and your bottom line are all protected by a great auto repair shop insurance policy. But what if you aren’t too sure what your insurance policy actually covers? Making sure you have the right amount of car insurance for auto repairs is an important aspect of managing your small business.
One of the main factors that most small business owners consider as they search for insurance coverage is cost. While it is always important to think about insurance costs for your auto repair shop, your premium shouldn’t be the deciding factor when it comes to purchasing a policy. So what else should you think about when it comes to building an insurance policy that fits the specific needs of your auto repair shop?
While the main focus of your business is to offer repair services to your customers, you won’t be able to do anything for them without a shop that is in good working order. With general liability coverage for your auto repair shop, you can protect against a wide variety of common business risks. This coverage option works to protect against accidents that take place on your property and will pay for any damages caused by you or your employees.
Customers who use your auto repair shop have insurance rights too. With auto repair shop garage keepers liability coverage, you can give yourself and your customers peace of mind whenever their car is being stored on your premises. This essential coverage works to protect customer vehicles in the event that their car is damaged, vandalized or stolen while in your possession and prevent you from having to pay for damages out of your own pocket.
Workers’ compensation is necessary to provide coverage for your employees in the event of any work-related injuries or illnesses. Even though your employees are experienced and highly-trained, the equipment they use each day to complete their tasks is very dangerous and can cause a great deal of harm. Without workers’ compensation coverage, you can be held responsible for any injuries they sustain while on the job. But with this coverage, your employees will get the medical care and income protection that they deserve.
Sometimes a natural disaster or accident can end up shutting your auto repair shop down for an extended period of time. With business interruption insurance, you can make sure that everything from temporary relocation costs to your operating costs are covered to keep your business up and running.
Want to make sure your business has good insurance coverage? Follow these simple tips when reviewing your policy:
Want to learn more about the benefits of comprehensive auto repair shop insurance from Zuma? Call 866-400-4434 or contact us online today to get a free quote!