Quantcast
Jump to content


Eurozone_Motors

Garage keeper's insurance, Am I getting ripped off?

Recommended Posts

Hey everyone, Ive lurked these forums for a long time while managing other people's shops and Ive decided to finally take the plunge. I shopped for an insurance quote and was given a price of 9k per year, this sounds extremely high to me. Is this a reasonable quote for a 2 bay shop in the Los Angeles area?

Share this post


Link to post
Share on other sites


Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Similar Forum Topics

    • General Liability / Garage Keepers Insurance Quotes... What do you pay?

      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 [email protected], in Auto Repair Shop Management Help? Post Here!

      • 1 reply
      • 81 views
    • 3rd party tire warranty insurance programs

      I was just wondering the most competitive 3rd party tire warranty programs.  Let me know who you use, thanks.

      By BroyotaMark, in General Automotive Discussion

      • 0 replies
      • 257 views
    • Shop Insurance

      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 OOOooo, in Auto Repair Shop Management Help? Post Here!

        
      • 0 replies
      • 369 views
    • A healthy repair shop business starts with a healthy mind and the right people

      The day to day operations of running a business can take its toll on anyone.  To be a business owner means to address problem after problem and finding the right solutions. Sometimes the decisions we make will be the right ones, sometimes not.  If we are not careful, this emotional roller coaster we call being in business, can make us focus too much on the negative, and not the positive things that happen in our lives. With nearly 4 decades as a business owner, I can say with certainty that one of the basic building blocks of being successful in business is having the right team of people around you and getting yourself in the right frame of mind.  You need to find and hire great people. But once you have them, you need to do all you can to take care of them, train them and make them successful in order for you to be successful. Is it easy? No. But it is essential. Most important; you need to treat each day as if it were a gift from the heavens and base your entire perspective from a position of strength and remaining positive.  I know it’s not easy, but I can tell you, it works.  

      By Joe Marconi, in Joe’s Business Tips For Shop Owners

        
      • 12 replies
      • 1,097 views
    • Price Negotiations

      After looking at the ICCU shop in Mumbai India, it made me wonder how the Indians deal with Indian negotiation tactics?  I need a good strategy.  My shop is among a large Indian population and it seems that they all want to negotiate pricing.  So much so that if one doesn't try to negotiate, it throws us off our game!   There are few ways to deal with this:  1) Stand firm, 2) Have a pre-made coupon that we can use to move the price a fixed amount, 3) Negotiate, 4) Prepare for the negotiation with inflated pricing, then negotiate and settle on a job price (that is often more than the non-negotiated price).   We do #2 and #4 regularly, with a little #1 and no unprepared negotiations (#3).   When we are negotiating, it's always out on the shop floor so that it can be a private conversation.  They always seem to feel better when they "get a deal"! Any better methods or practices?

      By bantar, in General Automotive Discussion

      • 13 replies
      • 998 views
  • AutoShopOwner Sponsors



×