Auto Services Insurance in Suffolk County and Nassau County, NY
All vehicle repair services must implement significant risk management practices. After all, they work on expensive vehicles and use a variety of potentially harmful materials to perform their services. Anything that goes wrong could wind up causing property damage, injuries and costing the business a lot of money. You need a strong insurance portfolio in place in the event of any unforeseen problems.
If you’re looking for a commercial insurance provider who will put your best interests first when helping you design the right insurance package, then turn to E.A. Funk & Associates. With our help, you’ll be able to protect your dealership, garage or other vehicle service business with adequate insurance policies that are optimized to your advantage.
With a proud history of serving Centereach, Selden, Coram, Shirley, The Hamptons and the rest of New York, we’re ready and waiting to help you get the perfect business insurance. Just call us at (631) 467 – 4747 or request your free, no-obligation quote online to get your search for coverage started.
Common Auto Services Insurance Questions
What Does Auto Services Insurance Cover?
Car dealerships, repair shops and other vehicle service providers have a lot of day to day interactions with the public. They are expected to provide quality services and protect both their customers and the vehicles in their care.
Any harm that the business experiences or causes to others could develop into a significant financial loss. With the right insurance coverage in place, you will be able to file a claim on your policy for your losses, which can help you significantly reduce your personal cost obligations for the resulting recovery.
What Kind Of Insurance Does An Auto Repair Shop Need?
Like all businesses, auto repair shops need several types of insurance to successfully mitigate risks. Broadly speaking, essential coverage that you might need to carry includes:
- Property Insurance
- General Liability Insurance
- Business Interruption Insurance
- Workers Compensation Insurance
- Commercial Auto Insurance
Additionally, you will probably need more specific coverage for your industry, including:
- Garage keepers liability insurance that covers you in case you damage a customer’s vehicle.
- Medical payments coverage that applies to third party injuries that occur on your property, even if you are not at fault for those losses.
- Sewer backup coverage that will cover property damage that occurs when your drainage systems overflow due to heavy rain.
- Employee dishonesty coverage that helps you pay for losses that occur because an employee stole from the business or from customers
- Auto dealership bonds that protect customers from fraud, mismanagement of funds or other abuses when they buy from your dealership. Most dealerships must buy this bond before they can obtain their operating license.
- Errors & omissions insurance that covers you in case your professional advice or services cause customers a financial loss.
How Much Does Auto Repair Shop Insurance Cost?
Your auto repair business’ insurance coverage will vary considerably, and so too will your premiums. Our agents are committed to working with you to determine the best way to structure your benefits so that they remain affordable.
What Coverage Does My Shop Need?
Many kinds of insurance coverage can be valuable for repair shops. Some policy types to consider for your business include the following:
Business interruption insurance—If you can’t operate your auto repair shop or garage because of covered property damage, this may help you recover some of your lost income.
Business crime insurance—Many auto body shops are also at risk for computer fraud, forgery or alteration, cash theft and employee dishonesty. This coverage can help insure the expensive parts, equipment and vehicles at an auto repair shop against theft or damage.
Commercial auto insurance—This coverage can protect your vehicles and your employee drivers if your shop owns or operates business vehicles.
Is Insurance for Auto Repair Shops Expensive?
Commercial property insurance—This coverage may help protect your owned or rented equipment, including drills, hand tools, lifts, jacks, air compressors, battery chargers and jumpers. It can also help protect your owned or leased building.
Equipment breakdown insurance—If your equipment, such as jacks and lifts, are damaged and need repair or quick replacement, this coverage can help you maintain operations.
Garagekeepers liability—This coverage may protect you if you offer towing services or operate a service station where customer vehicles may be kept. If there is fire, theft, vandalism, explosion or lightning, and customer vehicles are parked or stored there for maintenance, this can help protect your shop.
General liability—This coverage can protect you against claims involving property damage or bodily injuries involving your products, services or business operations.
Workers’ compensation—This coverage can offer financial assistance for qualifying employees during their work-related injury or illness recovery. Most states require workers’ comp for repair shops with employees.
The cost of your repair shop’s insurance depends on several things, including:
Business size and revenue
Business type, such as auto repair, tow truck or dealership
Policy limits and deductibles
E. A. Funk and Associates can help you determine your insurance’s specific cost based on the chosen coverage. We can assess your shop’s unique exposures to give you the best protection. Call us today at 631-467-4747 to get started on your coverage.