What Coverages Are Available Through Auto Shop Insurance?
The exact coverages that are included in any one auto shop policy can vary. In most cases, they’re adapted to a specific auto repair shop’s needs. Some of the coverages that may be included in a policy are:
- General Liability Coverage, which typically provides protection from a variety of potential accidents
- Garage Keepers Liability Coverage, which may cover customer’s vehicles while they’re kept at a repair shop
- Commercial Property Coverage, which might cover damage that’s caused to an auto repair shop’s property
- Crime Coverage, which may cover crimes by both burglars (e.g. break-ins) and employees (e.g. embezzling)
- Workers Compensation Coverage, which might cover employees who are injured while working at an auto repair center
- Commercial Auto Coverage, which may cover vehicles that an auto repair shop owns (e.g. tow trucks and loaner vehicles)
- Business Interruption Coverage, which might cover interruptions to essential operations that affect revenue
What Massachusetts Businesses Need Body & Collision Repair Shop Insurance?
Most businesses in Massachusetts that make repairs to vehicles should carry body & collision repair shop insurance. Regardless of the type of automotive work a business does, it can be held responsible for accidents that happen while working and mistakes that lead to accidents on the road. Body & collision repair shop insurance helps protect against these risks, providing financial protection should an auto shop of almost any kind face a covered loss or lawsuit.
What Factors Impact Body & Collision Repair Shop Insurance Premiums?
As is true with most other kinds of insurance, insurers take into account many factors when they calculate body & collision repair shop insurance premiums. A few items they may consider include:
- Where an auto repair shop is located
- What precise type of automotive work a repair shop does
- How many vehicles a repair shop services
- How many insurance claims a repair shop has filed in recent years
- What coverages and limits a repair shop wants
How Can Repair Shops in Massachusetts Get Auto Repair Shop Insurance?
For help finding auto repair shop insurance, auto shops in Massachusetts should contact an independent insurance agent in the state who specializes in this form of insurance. A knowledgeable, independent agent will be able to help an auto repair shop assess its risks, select the coverages it needs and find an auto repair shop policy that meets those needs.
