Insurance carriers that offer industry specific policies such as body shop insurance will give you better coverage than a general liability commercial policy will. While it is not intended to replace your commercial policy altogether, a policy designed specifically for the needs in the auto body repair industry will protect you from potential financial devastation that can occur for any number of different reasons, These include but are not limited to:
- Garage Keepers Liability
- False Pretense Coverage
- Product Recall Expense
With auto theft on the rise and the supply of quality parts on the decline, it is essential to have coverage for your body shop in all of these areas.
As with any type of insurance, you will want to do whatever you can to keep premiums at bay. Even if your current insurance company offers a multi-policy discount, that doesn’t always translate to the lowest rate. Instead, take the time to shop around and get quotes from a few carriers who have agents who specialize in the writing policies for the auto repair industry. Agents who are well versed with the ins and outs of the auto repair industry will usually be able to design a policy specific with better coverage than those without. They will also be able to help you mitigate risks and exposures in certain areas, and therefore reducing your overall premium. You will usually get more coverage for less money this way.