Appliance Repair Insurance For Small Businesses

Who Needs Appliance Repair Insurance?

If you have an appliance repair business, you might want to consider having Business Liability Insurance. Various accidents may occur as appliance technicians work to install and troubleshoot appliances in their clients’ houses. Just like any other types of business, appliance repair shops may face risks such as fire, theft, vandalism and more. Thus, you need to secure your firm from damages or losses you may cause. Without insurance, you may end up paying expensive recovery costs out-of-pocket.
Appliance Repair Insurance

General Liability Insurance Cost For Appliance Repair Shops

Various factors affect the cost of your insurance premium. It includes the type of business you have and your business’ location. The level of risks you have also affects your General Liability Insurance rate.
Most insurance companies offer Business Owner’s Policy (BOP) which combines General Liability Insurance and Business Auto Insurance to ensure a company. You can tailor your BOP to match your business needs at a lower price.

Other Policies Available for Appliance Repair Businesses

AC Insurance has policies that cover specific hazards. Below are the types of policies that it covers:
Whether you employ 1 or more technicians for your business, you will need to acquire Workers Compensation Insurance or Workers Comp. It can cover the medical bills, litigation costs, and lost wages of employees when they sustain injuries in the workplace.
If you fix your customer’s appliances in your workshop, you are responsible for the appliances while they’re in your possession. When acts of nature, vandalism or theft occur, you could become liable. Thus, it is important to carry Bailee’s Insurance because it covers the repairs and replacements of the damaged appliances.
Business Auto Insurance protects the automobiles you use for business purposes. If a company vehicle gets into an accident, Business Auto Insurance covers the cost of vehicle repairs and medical expenses of third-party injuries.
Business Property Insurance protects the physical structure of your business from damages due to weather, theft, vandalism and other types of perils. It also provides protection on your business’ tools, equipment and computer systems you use for your repairs services.
Appliance Repair Insurance

Other Policies Available for Appliance Repair Businesses

General Liability Insurance also called Business Liability Insurance or Commercial General Liability Insurance protects your firm from third-party damage claims. As an appliance technician, you will surely be spending most of your time on customer sites. That is why it would be smart to carry General Liability Insurance so it can protect you when the unfortunate happens. There are several types of coverage that General Liability Insurance offers for appliance repair businesses. These coverages include:

Customer Injuries

If a customer slips and falls because of your tools while you’re repairing their appliances, you could be liable for the injury. If the customer files a case against you because of the injury, the costs of legal fees you need to pay could leave your business down and out. General Liability Insurance can help you save your business assets by compensating for the attorney fees and settlement expenses you need.

Customer Property Damage

If a customer slips and falls because of your tools while you’re repairing their appliances, you could be liable for the injury. If the customer files a case against you because of the injury, the costs of legal fees you need to pay could leave your business down and out. General Liability Insurance can help you save your business assets by compensating for the attorney fees and settlement expenses you need.

Damages to Premises Rented To You

If a customer slips and falls because of your tools while you’re repairing their appliances, you could be liable for the injury. If the customer files a case against you because of the injury, the costs of legal fees you need to pay could leave your business down and out. General Liability Insurance can help you save your business assets by compensating for the attorney fees and settlement expenses you need.
Overall, with adequate insurance policies you can protect your appliance repair business from unexpected risks. As you fix washing machines, dryers, refrigerators and more, it is just wise to have tailor-made policies that can shield your firm from potential losses, lawsuits and medical fees. Insure your business with affordable policies made available for appliance technicians. Work with our licensed insurance agents who can help you save money by comparing quotes from different insurance companies. Get an Appliance Repair Quote Today