6 Things You Need to Know about Insuring Your Garage or Auto Repair Shop

As a garage owner, you provide a quality service to your local community. Customers trust you daily with one of their most expensive assets, their vehicles. They rely on you to fix and maintain their cars, trucks, and motorcycles so they can travel safely from place to place and not have to worry about their family’s safety. It’s a service you should be proud of. It’s also a business that brings you face to face with daily risks. Risks that you need to be properly insured against.

Insurance for Auto Shops and Garages

When was the last time you reviewed your auto shop business insurance? We often find that auto shop owners are so busy turning wrenches and building relationships that they rush into buying insurance and don’t actually know what they purchased. We’ve compiled a list of the most important things you need to know about insuring your garage or auto repair shop.

It’s worth the investment.

As a garage owner, it is easy to get trapped in cost-focused mindset. You want to keep your hourly rates lower than dealerships do, so you try to save money when you can. Don’t sell yourself short. Before you buy insurance based on price, ask your agent if you’ll be protected against more than just slip and falls. Does the policy include errors and omission coverage in the event something you fixed causes an auto accident? Or does it protect you against lawsuits if a customer isn’t satisfied with your work?

Look for insurance specific to your services.

There is no one size fits all insurance policy. To fully protect your garage and assets, you need to buy insurance specifically designed for your unique services. Garage liability, garage keepers, business auto, business property, and worker’s compensation insurance are a few of the most important policies you need in place. Professional liability is valuable to if you often give advice to customers about car repairs.

It doesn’t have to be stressful.

Do you get stressed just thinking about shopping for insurance? It can be an overwhelming process if you are starting from scratch. But there are a few steps you can take now to eliminate that stress. First, make a list of all of the services you offer and the equipment you currently own. Not every insurance agent has insurance solutions for garages, and this list will minimize time invested.

Protect your employees, business, and yourself.

Buying insurance isn’t just about protecting your bank account when a claim occurs. You need a 360-degree plan that protects your business, employees, and yourself. Garage liability is a great way to protect your business assets, but worker’s compensation is critical to protecting employees who are injured while working for you. Make a list of the repair services you offer, and then think about what the worst-case scenario if something went wrong. Share those scenarios with your agent so he or she can help you find an inclusive policy.

Buying business insurance is only part of the solution.

Protecting your garage from various risks with insurance is just one step in the process. You also need to create and implement policies and procedures. Policies and procedures act as a guide for how you handle certain scenarios and can protect you from potential risks like slips and falls, employee injuries, and wrecking customer vehicles.

You aren’t limited to one company.

Whether you have insurance in place or not, remember you are not limited to one company. There are plenty of insurance carriers that offer insurance for auto repair shops. An independent insurance agent represents more than one carrier. They can provide multiple insurance quotes so you can compare coverages and make the choice that best fits your needs.

How to Find Auto Repair Shop Insurance

Contact local independent insurance agents that understand daily operations of a garage. Rumbaugh Insurance is a locally-owned and independent insurance agency located in Hanover, PA. We insure several garages in Hanover and the surrounding communities and help them understand what they need and how they are protecting themselves. Give us a call today for a free business insurance review or fill out the form.