There are more than 2 million vehicles registered in the State of Wisconsin, and their average age is 11.6 years. That means a typical driver holds onto vehicles for many years. Even though modern vehicles may be built for long-term endurance, minor repairs and maintenance are virtually unavoidable. From oil changes and tune-ups to tire replacement and glass and body repair, the automotive repair industry is a big one. If you own a light-duty garage in Wisconsin, you know how lucrative your line of work can be. However, it is also risky. Talk to an independent insurance agent to make sure your business is covered against the types of losses most common to your industry.
At Gutman Insurance, we understand the types of hazards that threaten light duty garage owners. We serve a wide range of niches within the auto repair industry, with insurance solutions for:
- Exhaust/Muffler Shops
- Tire Repair Shops
- Oil Change and Tune-Up Shops
- Automotive Upholstery Repair Services
- Glass Repair/Replacement Services
- Body Shops (Collision Repair)
- Auto Detail Shops
- Emissions Testers
- Inspection Sites
- Sound Repair and Installation Shops
- And More
Auto Repair and Maintenance Risks
You took a chance when you opened your business and likely risked a large investment with the hope of a profitable return. Unfortunately, the risks did not stop there. When you operate a business with extensive physical assets and responsibility for the safety of employees and the care of expensive vehicles, even the slightest mishap can be costly. Vandals could break into your garage and damage a customer’s car. An employee could be severely injured by dangerous shop equipment. Your shop could catch fire, resulting in a total loss. In all of these scenarios, there may be little or no way to prevent the damages, but there are ways of managing the financial consequences for your business while also looking out for the interests of your workers and customers.
Types of Light-Duty Garage Coverage
There is no bumper-to-bumper warranty for your business, but there are insurance policies that can help minimize your vulnerability to loss. Depending on the size and nature of your business, your commercial coverage may include protection for:
Property Damage and Loss
If your shop and equipment are damaged due to a covered event, such as a fire, explosion, break-in, or high wind, property insurance can help you rebuild again. This coverage can extend to the physical assets your business owns, including signage, building structure, office furniture, waiting room furniture, computers, auto repair equipment, and more.
Business Interruption/Income Loss
When a covered event forces your shop to temporarily close its doors or otherwise stop accepting as many customers, it can affect your bottom line. However, there are still bills to pay when your cashflow stops, and business interruption insurance can help you cover the cost.
Liability Protection for Garage Owners
Garage owners need broad liability protection that protects against a wide range of third-party loss claims. This includes general liability insurance to cover medical bills if someone slips and falls on your premises, as well as coverage that protects against employee dishonesty, discrimination claims, faulty product liability, cyber liability, professional errors, negligence, and more.
Garage Keepers Liability Insurance
Not generally included in a typical liability policy, this coverage extends your liability protection to cover damages to customer vehicles while they are in your care, whether due to a natural disaster, accidental damage, or the work of vandals.
Workers Compensation Insurance
Light duty garages may not always have the same heavy machinery as traditional mechanic shops, but there are still abundant opportunities for injury among workers. If one of your workers gets hurt at work or develops an illness as a result of exposure to dangerous chemicals and substances in your shop, workers’ compensation insurance can help pay for medical bills and recovery costs, as well as compensate the worker for lost wages. This type of coverage is also beneficial to your business, in that it may help protect your shop against employee litigation.
If your automotive repair business is mobile, you need commercial insurance to cover your vehicle. Even if you drive a personal vehicle to perform services, such as mobile detail, your personal auto insurance may not protect your car when you are driving it for work. Commercial auto insurance can protect your vehicle against collision and can also extend to cover damages to vehicles that your business does not own.
Request a Light Duty Garage Insurance Quote
At Gutman Insurance, we know the risks of garage ownership and working in the automotive repair industry. We can help you select a coverage that fits your needs, as well as answer any questions you may have about policy components, such as deductibles, limits, and more. Shopping for coverage on your own can be time-consuming, overwhelming, and complicated. How do you know if you’ve made the right decisions or if you may have left gaps in your coverage? Working with an independent agent can help take the guesswork out of commercial insurance so you can feel confident in the coverage you select.
If you own a light-duty auto repair or maintenance business in Wisconsin, let us help you streamline your insurance coverage with insurance customized to fit your needs. Contact an independent agent at our office to find out more about garage owner’s risks and get a quote for the insurance solutions that can mitigate them. We look forward to serving you soon.