Typewriter repair shops typically engage in repairing and maintaining typewriters and other business machines (copiers, laminators, fax machines, etc.). Repairs are made both at the customer’s location (e.g., an office) or at the repair shop. Retail sales of typewriters and other products are typically not available at these kinds of specialty repair shops.
Like many other types of businesses, you face risks to your business property from fire, theft, vandalism, and more. In addition, you have to protect your business from damage you might cause to other people’s property while you repair it, and while your employees are driving your trucks or vans out on public roads.
In order to protect your livelihood, you need to understand the types of risks that you face and how you can protect your assets and move forward when things go wrong.
Business insurance tailored to your unique risks can help you recover from simple claims for slips and falls on your premises, and even from the complete devastation caused by a fire or a tornado. Typewriter repair shop insurance also protects you if you are sued for some type of negligence.
A local independent insurance agent can help you find customized business insurance solutions that fit your needs and budget.
Why Do You Need Typewriter Repair Shop Insurance?
Typewriter repair shops may conduct repairs onsite at homes or businesses, or you may take customers’ typewriters and business machines into your shop. Any number of adverse events could occur no matter where you work.
You or your employees can damage a customer’s property during transport, while in your shop, or in the course of making repairs.
And like any retailer or shop owner, the possibilities for property damage to your building and business property, or your customers’ property, are endless. Your shop can catch fire, damaging everything inside—including typewriters that belong to customers, which are stored at your shop.
The specific business insurance policies that you need depend on where you work, the number of employees that you have, and the types of services you provide. Any business that provides repair services requires special insurance policies and endorsements that address risks to:
- Your building or shop
- Your own office equipment, computers, tools, and equipment
- Your customers’ physical well-being on your premises
- Your customers’ property while in your care
- Repair technicians driving company-owned vehicles
What Does Typewriter Repair Shop Insurance Cover?
Typewriter repair businesses need a variety of basic business insurance policies, as well as several additional coverage options tailored to their specific business risks.
- Commercial general liability (CGL) insurance pays for the costs associated with bodily injury or property damage claims against your business. General liability insurance offers broad protection for a variety of liability risks that your business is exposed to, from customer slips and falls to claims of advertising liability, slander, libel, and more. Your CGL policy will pay for your legal defense, attorney and court costs, and any settlements or judgments that you must pay, up to your policy limits.
- You can also be held responsible for damage to customers' property that is in your care, custody, or control. If you take customers’ typewriters onto your premises to make repairs, you should consider bailee’s coverage. It covers non-owned property (customers' property) stored at your shop or in your possession.
- Typewriter repair businesses need commercial property insurance to protect their building(s) and contents from costs associated with weather, fire, smoke, vandalism, theft, and other types of property damage. Business property insurance not only protects your building, but also your computer systems, fixtures, parts inventory, tools, and other equipment that you use in your operations.
- Your business property policy should also include business interruption coverage, which provides income protection if you must temporarily cease operations due to some unforeseen event (fire, weather, etc).
If you qualify, you might choose to purchase a business owners policy (BOP), which is a small business insurance policy that includes property, liability, and business interruption coverage in one affordable package.
Do Typewriter Repair Shops Need Commercial Auto Insurance?
You probably have employees who go out on deliveries or pickups, or who drive from site to site all day to do repairs. In these cases it is likely that you provide trucks, vans, or other vehicles for your employees to drive.
If you own one truck or a fleet of vehicles, you need commercial auto insurance. Commercial vehicle insurance covers your cars, trucks, and any other vehicles you use for business. It provides bodily injury and property damage liability coverage, as well as collision, comprehensive, and uninsured motorist coverage.
While similar to personal auto insurance, commercial auto insurance is priced differently and is designed for commercial situations. Your commercial auto insurance can be tailored to your needs, and your coverage and premiums will be based on how your vehicles are used and who drives them.
Each vehicle owned by your appliance repair business or used for business purposes can be listed separately on your business auto policy, with corresponding coverage for each vehicle that can differ depending on the vehicle’s characteristics and the coverage it requires.
It is important to note that if you or your employees drive personal vehicles for business use, you need non-owned auto insurance coverage. This coverage can be part of your business auto policy, or it can be added to your commercial liability coverage if your business does not own any vehicles. It covers you and your employees when driving personal vehicles for business purposes.
Other Typewriter Repair Shop Coverage to Consider
Typewriter repair businesses also need a variety of other business insurance policies, depending on where and how you do business, how many employees you have, and other factors that you should discuss with an independent insurance agent. Most of these policies can be tailored to the exact needs of your business and the risks it faces.
- Employee theft and crime coverage protects you from instances of employee theft, fraud, or other crimes against your business.
- Workers’ compensation insurance is typically required for any business that has employees, and pays for lost income and medical expenses for employees who are injured on the job.
- Inland marine coverage protects tools, equipment, and supplies that you bring offsite to make repairs; commercial property policies and commercial auto policies typically exclude coverage for those items once they leave your business premises.
- Employment practices liability coverage protects you from employee lawsuits related to discrimination and other employment-related business practices.
- Cyber liability insurance provides coverage in the event of a data breach involving your business.
- Commercial umbrella insurance, or excess liability insurance, provides an extra layer of liability protection above and beyond the limits of your CGL and certain other liability policies. It kicks in and provides coverage when those other applicable policies have been exhausted. If you are involved in a significant claim or lawsuit, this coverage can be the difference between staying in business and closing up shop for good.
- Sign coverage pays for damage to outdoor signs that are not attached to your building when the damage is caused by weather, vandalism, fire, etc.
- Utility interruption coverage provides income protection if you are unable to operate due to a covered utility (water, electrical) interruption.
How Much Does Typewriter Repair Shop Insurance Cost?
Insurance for a typewriter repair shop range from several hundred dollars per month to thousands. It depends on:
- The size of your business
- The location of your business
- The number of employees
- The value of the building (if you own it) and other property and physical assets you keep on your premises
- The types of coverage and amount of coverage that you need.
If you are a sole proprietor with just a few employees, you can expect to pay far less for your business insurance than a multi-location business with numerous employees.
Ultimately the types and amounts of coverage you need to adequately cover your risks will dictate the cost of your coverage.
Find and Compare Quotes
An independent insurance agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Benefits of an Independent Insurance Agent
Our agents simplify the search process for finding the right typewriter repair shop insurance. They’ll walk you through some handpicked policy options and explain the details and options.
Most importantly, they’ll 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.
The Lowdown on Online Quotes
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For business owners, choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-saving opportunities that an agent can help you take advantage of.
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.
TrustedChoice.com Article | Reviewed by Paul Martin
©2020, Consumer Agent Portal, LLC. All rights reserved.