What to Consider For Appliance Repair Shops

Appliance Repair shops can be an expensive business. An unexpected appliance failure can happen at any time, from the repair shop to a customer’s home and in the customer’s driveway. There are several types of coverage available, which are offered by many companies. Here are a few basic steps to ensure that your repair business stays afloat.

* General liability coverage provides protection for damage or theft to your equipment while under warranty. You will also receive additional coverage for accidents and damages to property from customers or other employees. General liability is typically included with a contract, although you may be able to purchase it separately. General liability coverage is required by law for all businesses, even those that are self-employed or not licensed to operate as such. The policy will cover all losses incurred because of any defect in your business equipment or products. Most policies will also provide replacement costs for any replacement parts or materials needed due to damage or theft. Some plans will also provide coverage for property damage and repairs caused by an employee.

* Worker’s compensation will payout to you and your employees for an accident on the job, as well as for any injuries sustained in the shop. Coverage usually takes the form of a personal injury compensation fund. This coverage is designed to cover a wide variety of claims. For example, it may pay for medical costs, temporary pain and disability, lost wages, lost earning capacity and others. While most employers are covered under this type of policy, some may not be. If you need this type of insurance coverage, be sure to discuss your options with the employer or business owner. Some companies may not allow you to purchase the coverage under their plan, so it’s important to inquire.

* Property and crime coverage is designed to protect against the loss or damage of any customer’s merchandise, equipment or fixtures during normal use. The insurance coverage will also pay for the repairs or replacements needed to replace items that were stolen during the burglary. This type of policy typically offers a deductible, which covers the costs if an incident does occur. Other than that, there are generally no deductibles. Other exclusions may apply, however, so it is important to thoroughly review the policy terms before purchasing. to determine which items are covered.

* Business liability insurance is designed to protect you and your clients from lawsuits that may arise from a customer or client’s injuries or damage to property. while using your service. A portion of this policy will also pay for legal expenses if you or the equipment is damaged or stolen during your business. You must have liability coverage, even if the event was your fault. Be sure to include this type of coverage in your contract when signing a business contract. Most plans also provide you with the option of adding a Personal Injury Protection to the policy to cover additional injuries that arise during your business’s operation.

It’s never too early or too late to start looking into your insurance options for repair shops. Most insurance providers are happy to provide you with a free quote if you contact them and let them know about your needs. It’s also important to be aware that many of these plans can be purchased online at a company’s Web site.