There are millions of vehicle owners in Illinois, and many drivers are keeping their cars longer than ever before. They often rely on the skills and expertise of auto body repair shop owners to keep their vehicles looking and running like new – long after they have driven it off the lot for the first time. From paint dings and glass chips to full collision repair, as an auto body repair shop owner, there is always plenty of work to keep your industry busy. However, there are also risks that come with repair shop ownership. Having the right insurance can help you keep your doors open and minimize the risk of significant financial consequences in case of an unexpected loss event. At AFI Insurance, we understand the dangers you and your staff face each day. We offer insurance solutions that protect your business, workers, and customers so you can worry less and instead focus on the job at hand.
Our office features automotive repair shop insurance for many different types of body shops, as well as specialty shops. This may include:
- Collision repair shops
- Paint shops
- Glass repair/replacement shops
- Tire shops
- And more
Shop Hazards and Business Risks
As a repair shop owner, your risks are unlike any other. Not only do you have the standard risks of business ownership and the pressure to protect your investment and cash flow, but there are also major liability and workplace safety risks associated with your industry. You are responsible for the condition of your customers’ vehicles and could have hundreds of thousands of dollars’ worth of vehicles in your care at any time. Likewise, these vehicles are very heavy, and the equipment you use to repair them requires great skill to use. One mistake could lead to devastating injuries in your shop. Having the right insurance is essential to mitigating these risks and more.
Types of Auto Body Repair Shop Insurance Coverage
While you may not be able to prevent every accident or loss, you can prepare for the unknown with commercial insurance coverage that protects your business against loss. Auto repair shop insurance often covers business owners against:
You probably own the building you run your body repair business from, and you may even have a sign in the parking lot. In addition, you probably sunk a lot of money into purchasing the equipment for your shop, as well as the computer systems and waiting area furnishings. Imagine the scope of your financial losses if a fire or tornado were to destroy your building and everything in it. Property insurance can help cover the cost of cleaning up and repairing, rebuilding, or replacing your property when it is damaged or destroyed due to a covered event.
Following a damaging event that forces your repair shop to close temporarily, business interruption insurance can help cover ongoing expenses so you can continue to pay bills and perhaps even meet payroll in the interim.
Auto body repair shops typically need a mixture of general liability protection and coverage that is customized to the needs of garage owners. General liability is designed to cover third-party injury and property damage claims for premises incidents, such as slip-and-fall injuries. You can also purchase coverage that protects your shop against other common risks, such as:
- Faulty products
- Employee fraud/dishonesty
- Discrimination claims
- Professional mistakes
- Data breach/cybercrime
- And more
In addition, auto repair shop owners need garage keepers liability insurance, which helps protect your business against damages to the vehicles you do not own but keep on your premises during the repair process. If criminals break into your shop and steal parts from a customer’s car, for example, you need insurance that will help cover the costs and also protect you against litigation expenses.
Workers Compensation Insurance
All businesses need workers compensation insurance to protect employees and remain compliant with state occupational regulations. This coverage is especially crucial in workplaces with a high risk of injury, such as auto body shops. If one of your employees is hurt on the job, worker’s compensation insurance can help cover the cost of medical care, rehabilitation, and lost wages during recovery. It can also help protect your business against employee litigation.
Request a Quote for Auto Body Repair Shop Coverage
If you own an auto body repair shop, we encourage you to reach out to our office to and find out more about the types of insurance you may need to mitigate your risks. By working with an independent agent at AFI Insurance, you get local, one-on-one assistance from an agent who understands your industry and the risks therein. You also gain access to an advocate who works on behalf of your business to find and compare insurance solutions from a wide range of reputable Illinois insurers. Our goal is to help you find affordable coverage that protects your bottom line – without sacrificing the quality of your protection.
We can explain coverage types, help you choose deductibles, and answer any questions you may have when selecting your coverage. We want you to feel confident in the protections you choose and are committed to providing ongoing support as you need it. For more information about how an independent agent can help you protect your auto body repair shop or to request a quote, contact our office today. We look forward to serving you soon.