Owners of muffler and exhaust repair shops need business insurance to protect their assets from the risks associated with making repairs to other people’s vehicles. Any kind of injury, error, or property damage can result in a costly claim or lawsuit.
Why Do You Need Muffler and Exhaust Repair Shop Insurance?
Muffler and exhaust repair shops perform very specialized services for vehicle owners. While you’re taking in vehicles, performing repairs, and generally running your business, a lot can go wrong. Muffler and exhaust repair shops 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 muffler and exhaust repair shop insurance to protect your business from these and other costly risks.
What Does Basic Muffler and Exhaust Repair Shop Insurance Cover?
Muffler and exhaust repair shops 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 another unexpected 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 shop must close temporarily due to a covered disruption (e.g., a fire, a severe weather event).
- Commercial general liability (CGL) insurance: Provides protection for most basic liability issues that a muffler and exhaust repair shop could face. It protects you from the costs of lawsuits related to accidents, property damage, and a variety of other mishaps that you may be responsible for.
You may want to consider a specialty liability insurance package designed for auto 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’s more, you may also be able to purchase business owners policy, or BOP. A BOP is a package policy designed for small businesses. It combines property, liability, and business interruption coverage in one affordable policy.
What Other Insurance Policies Do Muffler and Exhaust Repair Shops 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 coverage.
- Employee theft and crime coverage: 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 liability insurance if you have any employees who drive their personal vehicles for business purposes.
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 Garagekeepers Liability Insurance?
Garagekeepers liability insurance is specialty business insurance coverage designed for all kinds of auto repair shops, including muffler and exhaust repair shops.
Garagekeepers liability insurance protects you if a customer’s vehicle 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 garagekeepers 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 Muffler and Exhaust Repair Shop Insurance Cost?
Insurance costs for a muffler and exhaust repair shop 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 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 muffler and exhaust repair shops 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 Muffler and Exhaust Repair Shop 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.
TrustedChoice.com Article | Reviewed by Paul Martin
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