business people sittingYou've worked hard to establish your vehicle service or garage business. Perhaps it is a company that has been passed down to you from previous generations. You may spend most of your time working on vehicles, hiring and training staff, and keeping your costs in line. However, you also have to take into consideration the risks that impact your company on a day-to-day basis. Every business is faced with risks just by opening its doors. In a garage business, you'll need business insurance that meets very specific requirements. Here are three key areas to focus on.

#1: Business Owner’s Policy

Business Owners Policies, or BOP, is an essential type of bundled business insurance package. In short, it wraps together the most common forms of business insurance that most companies need and keeps the costs down as a result. BOP tends to include:

  • General liability insurance
  • Property insurance
  • Workers' compensation

For a garage business, these three areas are good places to start since they will help to protect you from many types of liability risks, employee-related illness and injury, and damage to the building, equipment, or inventory.

#2: Garage Keeper’s Legal Liability Insurance

Not all insurance companies carry this specific form. However, they will offer a policy that's designed to increase the amount of liability coverage you have. In doing so, it helps to minimize the legal risks related to what happens when your customer drives off the lot and something goes wrong. It is ideal for business owners that provide towing services or operate service stations. This type of business insurance protects the customer's car when your business is keeping it at a covered location for storage, parking, or to perform service.

#3: Commercial Auto Insurance

If your garage provides towing or delivery services, you may operate commercial vehicles. If so, commercial auto insurance should also be a component of your business insurance package. It helps to protect both the liability risks as well as the risks associated with damage to your vehicle.

Your garage business may need additional types of insurance coverage. You'll need to work with an insurance agent to determine which areas are specific concerns to you. You can always add on to BOP to ensure it better fits your needs as well.

Is your business covered? Call Salzberg Insurance Agency at (877) 757-6081 for more information on Florence business insurance.
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