Fleet Repair Service Insurance

Fleet Repair Service Insurance Guide

What to know about the best business insurance for your industry

Big rig blue semi truck with open hood waiting for engine inspection and maintenance. Find fleet repair service insurance.

Fleet repair services are part of the general automotive repair industry. Businesses in this industry typically provide a wide range of mechanical and electrical repair and maintenance services for passenger cars, trucks, and vans. Fleet repair services typically specialize in these services as well as engine repairs and replacement services for heavy trucks and other large vehicles.

If you own a fleet repair service, you need business insurance to protect your assets from the risks associated with making repairs to your customers’ trucks.

An independent insurance agent in your city can help you get the fleet repair service insurance that fits your needs and budget.

Why Do You Need Fleet Repair Service Insurance?

Fleet repair services perform very specialized services for heavy truck and equipment owners. While you’re taking in trucks, performing repairs, and generally running your business, a lot can go wrong. You face the following types of business risks.

  • Slips and falls on the premises
  • Worker illnesses or injuries
  • Faulty workmanship or parts
  • Fire, bad weather, vandalism, or theft that damage your commercial property
  • Causing damage to a customer’s vehicle that is in your care
  • Employee theft or crime
  • Business interruptions/income loss after a property loss

You need fleet repair service insurance to protect your business from these and other costly risks.

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What Does Fleet Repair Service Insurance Cover?

Fleet repair services should work closely with an independent insurance agent to determine their need for the following types of business insurance.

  • Commercial property insurance: Protects you if a fire, vandalism, smoke, theft, or other event damages your property. It provides coverage for lost inventory, office equipment, computers, machinery, and more.
  • Business interruption coverage: Pays for rent, employee salaries, and other expenses if your business must close temporarily due to a covered property loss. 
  • Commercial general liability (CGL) insurance: Provides protection for most basic liability issues that you could face. It protects you from the costs of lawsuits related to accidents, property damage, and a variety of other mishaps.

You may want to consider a specialty liability insurance package designed for many kinds of vehicle repair businesses. Garage liability insurance provides several forms of liability insurance specifically designed for the needs of various types of garages and auto repair shops. 

What Other Insurance Policies Do You Need?

You’ll likely need other insurance policies to fully protect your business and your employees. Talk to your independent insurance agent about your need for the following types of fleet repair service insurance.

  • Employee theft and crime coverage: This can protect your business from the costs of theft, dishonesty, and fraudulent acts committed by a single employee or a group of employees.
  • Commercial vehicle insurance: Covers any vehicles that your business owns. In addition, you need non-owned auto insurance if you have any employees who drive their personal vehicles for business purposes.
  • Commercial umbrella insurance: This can cover you for claims that exceed the limits of your other liability policies.

You’ll also need to purchase workers’ compensation insurance according to the requirements in your state. It protects your employees and your business from the costs associated with work-related injuries and illnesses. It provides coverage for medical care and income protection for an injured worker while he or she is unable to work. Workers’ compensation insurance also helps protect employers from lawsuits by injured employees.

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What Is Garage Keepers Liability Insurance?

Garage keepers liability insurance is specialty business insurance coverage designed for all kinds of auto repair shops, including fleet repair services.

Garage keepers liability insurance protects you if a customer’s truck is damaged due to your negligence while it is in your care, custody, or control (i.e., while it is in your garage being worked on or stored before or after the work is complete).

This protection is not included in the standard garage liability policy. Remember that garage keepers liability insurance does not cover the contents of a customer’s vehicle, and also does not cover damage that occurs as a result of faulty workmanship, parts, or insufficient warrantees.

How Much Does Fleet Repair Service Insurance Cost?

Insurance costs for a fleet repair service will vary depending on the size of your business, the number of employees you have, and how much commercial property (buildings, tools, and equipment) you have. The number of large trucks that you typically have on your premises for repairs will also impact how much it costs to insure your business.

The types and amounts of coverage that you need to purchase will drive your overall business insurance costs.

Benefits of an Independent Agent

An independent insurance agent who has experience working with fleet repair services and other similar businesses can help you decide the types and amounts of coverage that you need for your business. The choices you make will determine your cost of coverage.

Independent agents can work with numerous, reputable insurance companies who specialize in your type of business. Together you can review a variety of proposals and choose the best mix of coverage that meets your needs and budget.

What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.

Find and Compare Quotes for Fleet Repair Service Insurance

Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.

Your agent will work with you free of charge to get quotes from multiple insurance companies so you can make the best choice.

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TrustedChoice.com Article | Reviewed by Paul Martin

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