Significant risk comes with operating an appliance repair service company. For instance, employees can accidentally cause damage to the customer’s home or other possessions, or even become injured in the process. When it comes to unexpected legal fees, repair costs, and medical bills to help keep you in business, the appliance repair insurance can help cover you. To help you find insurance that matches your unique risks, InsureWise helps home and commercial appliance repair shops and technicians. Below is the basic coverage an appliance repair professional should have.
General Liability Insurance
Basic third-party risks, like water damage from a faulty refrigerator, is covered with a commercial general liability policy. For savings in a business owner’s policy (BOP), bundle it with commercial property insurance.
– Product liability insurance
– Customer property damage
– Customer bodily injuries
Workers’ Compensation Insurance
For appliance businesses that have employees, most states require workers’ comp. From work injury costs that health insurance might deny, this also protects sole proprietors.
– Employee medical expenses
– Legal defense costs
– Disability benefits
Commercial Auto Insurance
In an accident involving your appliance repair van or truck, commercial auto insurance can pay. for business and personal vehicles, state laws require auto liability coverage.
– Property damage from business auto accidents
– Vehicle vandalism and theft
– Medical payments from an accident
Contractor’s Tools & Equipment Insurance
For repair or replacement of an appliance technician’s wrench sets, multimeters, and other tools, this business insurance policy helps pay.
– Equipment less than five years old
– Small tools like wrenches and screwdrivers
– Mobile equipment, such as a dolly or ramp
Professional Liability Insurance
When an appliance repair company is sued for a mistake or oversight, professional liability insurance covers legal costs. This is also known as errors and omissions insurance (E&O).
– Accusations of negligence
– Water damage from a faulty repair
– Undelivered services
Insurance for Appliance Repair Business
When you need insurance coverage for your appliance repair business, call InsureWise and we will help you find the right coverage to protect you and your business.