If you run a successful auto repair insurance company, you may want to consider taking out a designated auto repair shop insurance policy for your business. This policy covers all the major points included in a comprehensive business insurance policy such as liability and property insurance, as well as expenses related specifically to auto repair shops such as customer vehicles that are kept on your lot over night.
What Is Covered by the Policy
Auto shop insurance provides standard liability and property coverage for all the parts of your business. Customers and other guests are covered by the liability portion, and both office and garage areas are covered by liability. Workers compensation insurance protects your employees and your business in the even that a worker is injured on the job. Finally, a auto insurance policy protects both fleet vehicles owned by the business and customer vehicles while they are in the garage.
What You Need to Get Insured
In order to get auto shop insurance, most insurance companies require you to submit three things. The first is the insurance application itself, the second is a record of carrier loss runs dating back several years, and the third is a copy of your employee handbook or practices documentation.
It is often more cost effective to get a comprehensive auto repair shop insurance policy than to combine individual policies to get full coverage.