When we talk about commercial garage insurance, we generally talk about insurance for businesses that are related to auto repair services. General liability insurance alone isn't enough for businesses; they need an insurance type that protects garages, mechanics and dealerships.
What is Garage Insurance?
Garage insurance provides protection from accidents such as slips, falls and other damages that happen inside or outside of the workplace. Let’s say that one of your mechanics takes a vehicle out for a test drive and causes an accident. In this situation, the insurance will cover the medical expenses and costs involved with repairing the vehicle.
Commercial general liability insurance would also cover you if one of your mechanics tripped at the workshop and broke his arm. If a defective product in your garage causes damage to a customer’s vehicle, then insurance will cover it. Unfortunately, it won’t cover auto-related mishaps.
Accidents can happen at any time, and those who are in the auto repair business know this better than anyone else. Commercial garage insurance has many categories which includes commercial property coverage, garage liability coverage, auto coverage, garage keeper's coverage, workers compensation, theft and crime coverage, etc.
Which Kinds of Businesses Need Garage Insurance?
- Used car dealers
- Auto repair and body shops
- Gas stations
- Valet and parking lots
- Car washes
- Tire dealers
- Mobile auto repair shops
- Driveway contractors
Garage insurance protects small businesses in the automobile trade from many different risks. Whether it is an injury or mistake, commercial garage insurance provides adequate protection. Let's take a look at a few types of coverage:
Business Owners Insurance
Business Owner’s Insurance (BOP) provides different types of coverage for garages, including general liability and loss of income.
Worker's Compensation Insurance
Worker's Compensation Insurance covers the medical expenses for injuries incurred by an employee at the workshop. Some commercial garage insurance program providers offer a portion of the employees lost wages if he is injured at work.
Basic Garage Insurance Coverage
It covers the injuries and accidents that usually happen inside of the garage. If a customer gets injured inside the garage, the insurance company takes care of his medical expenses. There are times when some insurance providers also give an option to pay for the loss caused to the garage owner if an employee steals or vandalizes a car.
If a faulty part inside the customer's vehicle causes damage to the garage, the insurance will cover for the same.
Garage-keepers Legal Liability Insurance
While repair work is going on with customers’ vehicles, most service stations and towing businesses need garage keepers insurance to cover any possible damages that might happen to these vehicles.
How to Buy Commercial Garage Insurance
It’s never easy to choose a provider for commercial garage insurance. With so many different types of garage insurance covers and such a large number of insurance providers, how do you make the right choice? The following tips can help you in this regard:
- Do research about the insurance company and the types of coverage that it provides
- Ask 3 to 4 selected insurance companies for quotes and compare
- Talk to others for references
- Check out the feedback of the company on the Internet and from other sources as well
For any business, safety is the biggest concern. If you have commercial garage insurance, it ensures that you can keep your mind free of all the unwanted and unexpected worries of accidental damage that could happen at the shop.