Running a garage or vehicle repair shop today can be a lucrative career, but it comes with some risks as well. Some risks include having a customer’s vehicle damaged during the repair process, and you face other liability risks as well by running a garage that other people work at. Furthermore, if you have multiple employees, or you’re running the facility on your own, there are risks that people will be injured or harmed in some other way at your facility. These are some of the main reasons that garage automobile insurance policies exist.
A garage automobile insurance policy includes a mix of different coverages that protect your garage facility itself, any liability issues for your business, as well as equipment malfunctions and other costly repairs you may need around your facility. Running an auto repair business, or any type of auto shop is expensive. There is always a risk that things will go wrong and that’s what insurance is meant for! When you invest in garage automobile policies for your business you can rest-assured that you’re protected.
Garage automobile policies are all different and provide different levels of coverage and protection. Some plans offer protection in case someone is injured or a customer’s vehicle is damaged seriously in some way. Other plans include shop equipment such as lifts, compressors, computers and other costly items. There are plans that protect the shop itself and many other options to choose from as well. Because there are so many different considerations for you to make, you might prefer help from a professional who knows insurance coverage.
A garage has a lot of tools, people coming and going, and other dangerous chemicals. Due to this, the owner of the shop may consider insurance coverage. Some garages and shops require liability insurance to run as a business in some areas.
It is possible for both employees and customers to be injured, as well as vehicles damaged. These powerful insurance policies help protect you from major medical costs, lawsuits, serious property repairs and more. You can’t use the insurance to protect against minor problems. It will save you from catastrophes that could seriously damage your business.
Imagine if an employee improperly mounts a vehicle. It falls off the lift. The car then crushes the employee. Even though he made the mistake you are held responsible for the injuries sustained and you would be expected to pay the medical costs and more. This is just one scenario that you could end up dealing with while trying to run your garage. If you aren’t careful to protect your facility with the right blend of insurance coverages, you could spend a fortune on one mishap like this. Garage automobile policies aren’t that expensive and investing in one could give you the protection you need to keep the business going over time even if something goes really wrong.
It’s difficult to determine who some insurance policies are meant for, but garage automobile policies are known to be used by just garages. These special insurance plans are meant for individuals that run a busy garage business. If you have a shop that works on vehicles and has one or more employees working in it, this type of policy is likely for you. If you work on your own you could still benefit from this insurance, but you should also consider different forms of commercial liability insurance as an alternative depending on the amount of equipment you have in your shop and how you run your business.
The trick to making the most of garage automobile policies is finding the option that fits your use-case most accurately. If you have many employees you have to worry about, you should invest in a policy that offers the level of protection that reflects that. If you maintain a retail environment or a waiting room customers will use, be careful that you have coverage for any visitors to your location. There are so many different considerations that you should consult an insurance professional. Learn which policy will provide the most reliable protection for your business overall.
If you’re careful to consult the right expert and you choose policies that cover your shop adequately, you will have a better chance of success in your business overall. There are so many different moving parts in an auto shop and a garage business in general that it can be overwhelming trying to keep everything in good working order and to prevent mishaps. Invest in quality insurance and you won’t have as much to worry about as you run your company.
Once you understand the value of garage automobile policies, you must attempt to choose an option that fits your needs best overall. That isn’t simple to do, and you should avoid the urge to pick the first policy you come upon. It’s much better to spend time overviewing different approaches with different insurance companies. Take a shortcut and work with an insurance broker such as our team at PAIB Insurance. We work with some of the leading insurance companies throughout Canada to give you access to the policies you need most.
We don’t just offer garage automobile policies to our customers either. Many of our commercial business customers use our connections to get commercial general liability insurance as well as options such as fleet insurance for their business protection. We make quality insurance easy to obtain through our partners while offering local services for maximum convenience.
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