Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.
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If you have extra time on your hands, space at your home, and the knowledge needed to repair cars, you might be thinking about opening up a garage at your home to offer car repairs to people who need them. If you do this, you will need to contact your home insurance agency about insurance protection, as your current policy will not offer enough coverage for this type of business.
Risks of a Garage Business
A garage business offers car repair services, and these types of businesses have several key risks. The first risk involves the potential for people to get injured while working on vehicles. The second risk is the potential for customers to get injured when they are dropping off or picking up their vehicles. Additionally, if you want to open up a garage business, you will probably need to buy tools and equipment for the business. If someone breaks in and steals these things or if an employee vandalizes them, you should not expect your regular insurance policy for your home to cover the costs. These are some of the risks you inherit when opening a garage business, and you will need to purchase insurance to cover these risks.
Insurance Needs for a Garage Business
When you decide to open your business, you should contact an insurance company to find out what types of coverage you need and the costs for the coverage. The insurance agent is likely to recommend two important types of coverages.
The first will be coverage that protects the actual assets of your business. This coverage will protect you against vandalism and things of that nature. It will not protect you though if your equipment or tools break. You would still have to pay for the repairs needed for these items. It will protect you against vandalism, though.
The second type of coverage you will need is liability coverage, which is designed to cover accidents that occur to people who visit your business. If a customer is there dropping off a vehicle and slips on a patch of oil on the ground, this person could sue you for injuries and damages. In this event, your liability insurance would cover the costs of the claim. Without this coverage, you would have to pay the damages out of your own pocket.
Before you start offering car repair services out of your garage, contact an insurance company to purchase garage insurance coverage to protect you and the things you own.
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