So, you’re looking for some help insuring your auto business?
As with all businesses, operating an auto business comes with its own set of unique risks. You never know what could happen, so getting insured is a great idea. Choosing the right coverage for your specific needs is also important. If something were to go wrong and you don’t have enough of the right coverage, it could be detrimental to the business you’ve worked so hard to create. Of course, a lot is going to depend on the type of auto business you own, the services you offer, and how much stuff and people you need covered.
Let’s Start with the Basics
There are a lot of different options available that can provide your business with the right amount of coverage. Here are a few options to consider:
General liability insurance
This insurance provides financial coverage if you are held responsible for any injury or property damage.
This policy is designed for business owners who offer towing services or operate service stations. It protects a customer’s vehicle or goods from damages while under your care, custody, control or possession.
Hired and Non-Owned Auto Insurance
This policy provides liability coverage for bodily injuries or property damage that you or your employees cause while driving for work. This protection applies to vehicles your business doesn’t own (such as your employee’s vehicles) or vehicles that you “hire” (such a rental car).
This policy will cover loss of income for up to 12 months in case your business is stalled due to weather or some other event that is out of your control occurs.
Professional liability insurance
In the instance you offer any consultation or design work services, this coverage offers protection from any potential claims if a client isn’t satisfied with your services.
This coverage is required in most states and covers employees’ potential risk to job-related injuries, illness or death.
Commercial vehicle insurance
Your auto business likely may use cars or tow trucks or other vehicles when servicing your customers, commercial vehicle coverage provides protection in case you, or one of your employees, causes an accident.
How do I choose an automotive business insurance plan that’s right for me?
Before making any final decisions on what insurance policy you think your business needs, talk to an insurance agent. We can help you put together a plan that makes sense for your unique business and can answer any questions you may have. After all, purchasing insurance is purchasing protection for your business, and protecting your business is protecting your livelihood.
Let’s get started figuring out which coverages will be the absolute best fit for your auto business. Give us a call today!