Are you the proud owner of an auto shop? Do you lie awake at night, worrying that something unforeseen might happen to your assets? If so, then you need auto repair shop insurance to give you peace of mind.
Doing so can help protect your shop and yourself from any damage or loss. No matter what the dilemma is, it will be a minor setback with auto repair shop insurance in place.
See below for an in-depth guide highlighting the many problems that you’ll dodge when you have auto repair shop insurance for your store. Be sure to consider them all.
1. Slips and Falls
Did you know that over 1 million Americans suffer some form of slip, trip, or fall injury every single year? Not only that, but over 17,000 of those people end up passing away from the injuries they’ve sustained.
Needless to say, these injuries are nothing to scoff at. Whether it’s an employee or a client, a slip and fall accident can lead to big-time costs for your company.
Without proper insurance in place, you could be left on the hook for things such as that person’s injuries, medical bills, or loss of wages due to the incident.
Not only that, but companies with employees who are found without some form of workers’ comp insurance are liable to huge federal penalties. These fees come in amounts that will be hard for you to financially recover from.
Most importantly, you want your auto repair shop to be a safe place for business. While you prioritize safety and keeping the floors clear, accidents happen. All it takes is mere seconds for a slip, trip, or fall to take place.
For example, your worker could slip on a puddle of leaking oil, your client could trip over the ledge of a door, and so on. Auto repair shop insurance protects you from all of these situations.
2. Employee Theft
Unfortunately, this is a very real scenario. The temptation to steal is all over the place in an auto repair shop business setting. They could steal things like the following:
- Confidential Client Information
- Car Accessories from a Client’s Vehicle (Such as Subwoofers, stereos, etc.)
- Car License Plates
- Cleaning Supplies
- Food and Beverage
The list goes on and on. While you will do everything in your power to hire the right personnel, you want to make sure you stock up on coverage.
Proper auto repair insurance can protect you and your shop from employee theft. You will be able to itemize what was stolen and right the wrongs of your staff.
Just as a side note: make sure that you aren’t convicting an employee of theft too early. Always use your words carefully and compile evidence before you make any claims.
If you have sufficient evidence, then you’ll want to file a polic report and terminate the employee right away. Regardless of the worker’s reliability, seniority, or position, it’s important that you terminate them and subsequently alert the police. That way, you can file a report for your insurance provider to reference.
Chalk this up as a harsh reality that you hope your shop never faces. However, to not protect yourself and your shop from the possibility of a fire would be unwise.
There are simply too many things in a car shop that could cause a fire. A repair shop contains oil, electrical systems, wiring, paints, degreasers, and so on. All are highly flammable, meaning that if a fire starts, it will likely consume the entire shop quickly.
By investing in auto repair shop insurance, you’ll be able to protect your finances and the future of your business no matter how great the fire. All losses will be accounted for.
This will help you rebuild from the ground up. While it may take some time to get everything back to the way it was, it will be but a minor setback in the grand scheme of things as long as you have insurance.
4. Damage or Theft of Client’s Car
If a client’s car is damaged, broken into, or stolen while on your property, you’re likely to be held at fault. The client can argue that you didn’t protect their vehicle well enough, leading to the incident.
With proper auto repair shop insurance in place, you’ll have a way to help your clients recover their losses.
Not only will this help save your brand reputation, but it can also show your customers how much you care. You won’t rest until they get compensated for what happend.
5. Damage During Repairs
All it takes is the negligence of one employee to lead to a faulty repair. As a result, your client may find themselves on the side of the road shortly after paying for your service.
This cannot be tolerated. You have to have a backup plan. Fortunately, auto repair insurance covers general liability, such as damage to a client’s car while a service is being performed.
This way, rather than losing out on money, you can pay for the client’s car to be fixed and all damages that resulted from the incident.
Avoid These Big Problems With Auto Repair Shop Insurance
Now that you have seen a plethora of big problems that your auto repair shop insurance provider can protect you from, it’s time for you to find a great fit for your needs.
Be sure to visit this page to learn more about EPG Insurance and why we’re the best fit for your auto repair shop insurance needs.
For more inquiries, please be sure to reach out via our contact us page and we will be happy to assist you further.