Garages and auto repair shops face a number of challenges, and without the right insurance they can be ruined by an accident, theft, or lawsuit. Fortunately, there are a number of different types of garage business insurance in Virginia that can help to protect them.
First of all, property damage insurance protects against any physical damage to the shop or equipment. Whether the problem was a fire, theft, or powerful storm, property damage coverage can help the garage get back to business. In addition, insurance for equipment breakdown can both help with repairs and protect against lost wages, while other kinds of insurance can protect the property of customers (such as their vehicles).
Next, general liability is necessary to protect a business against lawsuits. If injuries or property damage occur at the shop, general liability coverage can pay for lawyers and settlements. Even if the claim is groundless, coverage is still necessary for legal fees.
Auto shop insurance can guard against the dishonesty or others. False pretense coverage can help guard against losses that arise out of becoming the victim of a fraudulent scheme, deception, or other trick. Also, insurance can protect against dishonest or stealing employees.
These types of coverage and many others (such as workers compensation or utility services coverage) can either be purchased separately or bundled together in one cohesive policy. Garage business insurance in Virginia is a great way to protect an auto repair business.