Quantcast
Jump to content


Recommended Posts

I need some recommendations on learning more about garage keepers insurance. Like basically where to start, how to shop for it, any information would be helpful.

 

To give you a little background on where I am coming from: My brother and I are taking over the business, our father is 69 and is working his way into retirement. He has done a great job on teaching us how to run a shop, we are both very good service managers, however we have little experience on the business end of things. The reason that I am so interested in insurance is at the end of last year we were dropped by our underwriter, not for too many claims, just because, well I don't really know why. I think it had more to with the insurance company and the direction they were heading. Anyway our insurance guy scrambled to get us insurance at the 11th hour and needless to say we are paying out the nose.

 

We have 2 locations and do general automotive repair. The kicker is, we also have 2-3 service trucks and do on site tire repair for semi and construction tires. Yes, I know, there is my expensive insurance issue. However we have never paid this much before and I think part of it is who we are dealing with.

 

With all that being said I am trying to be proactive and learn as much as I can, so that maybe when it is time to renew we can get this expense a little more inline.

 

Any help and suggestions would be greatly appreciated.

 

Scott

Share this post


Link to post
Share on other sites


Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Similar Topics

    • By [email protected]
      I have a 2 bay facility that I rent and one employee plus myself. I was quoted about $2346 per year for both general liability and garage keepers from Liberty Mutual(using CoverWallet as the broker).
      - General liability was $1,032 per year if paid in full for $1,000,000 limit and $2,000,000 aggregate
      - Garage keepers was $1320 per year if paid in full for $75,000 coverage
      Does this sound right? I am in the process of getting other quotes but wanted to see if I am in the right ballpark. This is my first time getting insurance for the business and it seems like some places don't want to insure you unless you have history.
      Shop size:
      Employees:
      Location:
      Own or rent:
      Coverage:
      Insurer:
       
      Thank you
    • By BroyotaMark
      I was just wondering the most competitive 3rd party tire warranty programs.  Let me know who you use, thanks.
    • By OOOooo
      I am owner financing the sell of my business and the new owner has 3 other shops that are smaller than mine. I have my insurance with Nationwide and they will only insure him if they get all 4 locations. Their concern is that he might shift employees around from location to location. I want him to have BOP insurance (Business Owners Policy) which covers the building and Liability. They are also going to consider this as non-owner occupied and don't like the fact that he sell used tires. The price they are giving us is almost 3 times what I was paying. My insurance agent says he can't find anyone else that will write the policy. Does anyone that sells some used tires have BOP insurance with someone other than Nationwide?
    • By Joe Marconi
      Has anyone spoken to their insurance agents in regard to health insurance. I briefly saw my insurance agent at the last Chamber of Commerce meeting and he told me he wants to meet with me way before November, when it will time to renew, to discuss all the changes in the new health laws. From what I see in New York, rates are going up and coverages will not be the same.
       
       
    • By Dusty
      http://www.pilgrimstudios.com/casting/garagerehabshop/
      NOW CASTING 
      DISCOVERY CHANNEL WANTS TO HELP YOUR
      TROUBLED AUTO OR MOTORCYCLE BUSINESS

      http://www.pilgrimstudios.com/casting/garagerehabshop/

      Do you have a commercial auto or motorcycle garage or repair shop that is troubled or failing? 

      This is your chance to have Richard Rawlings of Discovery's hit series "Fast N Loud" and his expert team come to your garage, solve your problems and upgrade your space on Discovery's brand new TV show, GARAGE REHAB!

      Maybe your tools, lifts and fans are old and broken or your space is falling apart. Maybe you have no idea how to successfully market your business. Maybe your management is bad or your staff doesn't get along. Whatever the case, Richard's team could invest their time and money to help make it a success!

      [email protected] 
      Email your Name, Phone Number, a Recent Photo of You and Your Garage
      and tell us briefly why your shop needs this show.

      http://www.pilgrimstudios.com/casting/garagerehabshop/
       

  • Similar Tagged Content

    • By Biff Tannon
      I am a mobile mechanic currently with safeco, but my local agent quit using them because their prices went up substantially.


    • By Ernie
      Hello Would anyone have a suggestion for an insurance company in Indiana for a shop insurance qoute?
    • By tasr
      I'm looking at renting a location to open a new shop and the owners are asking me to carry 2 million general aggregate, 1 million per occurence. 100,000 fire damage liability and 5000 medical.
       
      In speaking to a few agent they seem to think it's a bit high.
       
      Can ya'll post what you typically carry on your shop?
       
      Thanks!
    • By mccannable
      I am planning a soft opening in mid to late January and have started looking for insurance quotes. I did not realize how difficult this may end up being. I have only spoken with two offices so far. The first could not cover a new venture(without previous experience) and the other wants all the info of all the employees up front before they can quote(we are hiring one mechanic and do not have that info yet). I understand cost will be higher fora new business but am having a hard time budgeting for this expense. I know there are many factors involved but if anyone that has started in the recent path could shed some light on this topic I would appreciate it. I did search here and did not find alot but online i found quite a few quotes for detail shops that seemed very reasonable(under 200/month). In my business plan I budgeted for $900 for Liability and Garage keepers.
       
      any advice is always appreciated.
    • By Joe Marconi
      The Affordable Care Act (ACA) requirement that large employers (businesses with 50 or more full-time equivalent employees) must offer health insurance to full time employees beginning Jan. 1, 2014, or face a fine, has been delayed one year until Jan. 1, 2015.
       
      Read the entire article: http://www.searchautoparts.com/aftermarket-business/searchautoparts-advanstar/news-distribution/aca-employer-mandate-delayed-until-?cid=95879
       
      What are your reactions? Is this a sign that there is push back from large companies? And what about many unions that now do not support Obama Care? Will this affect us? Your thoughts?
       
       
       
       
  • AutoShopOwner Sponsors



×
×
  • Create New...