Liability Insurance

Appliance Repair Insurance

Appliance repair shops offer installing, maintenance, and repair of appliances to individual homes and businesses. A repair business can be a home-based or manufacturing company. A manufacturer can contract a technician for services to its clientele. Appliances that need installing, maintenance or repair include washing machines, cookers, fridges, and dishwashers. The customers expect the appliances to be well maintained and in complete working order due to the frequent use.

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As an appliance repair business owner, it is your responsibility to ensure your customer’s needs are met. Despite your efforts and good intentions, problems can come up. To protect yourself from the costly risks involved, investing in the proper appliance repair and service business insurance is essential. It is crucial for small business or technicians who do home-based repair. The insurance protects your business from lawsuits.

Cost of Appliance Repair And Service Business Insurance

The cost of general liability insurance will depend on the location, the type of services offered, the number of employees, size of your business, sales, and experience.

Why Appliance Repair Businesses Need Insurance

As the business owner, you are legally responsible for appliances at your business. Damage to equipment could be through theft, vandalism, flood, errors during repair, etc. Covering the costs out of pocket could be financially draining. With proper coverage, such costs would be covered by the policy. The advantage of having insurance coverage can save you from financial loss. However, as a business, some insurance coverage is mandatory.

Types of Appliance Repair Service Insurance

While some policies are required for specific needs, there is insurance coverage that every appliance repair and service business should carry.

Commercial Property

It protects your repair shop and the contents inside, including the appliances, from physical damage, theft, vandalism, and fire. Commercial property insurance covers the cost of repair and replacement.

Commercial General Liability 

The policy covers you against third party physical injuries and property damage claims. For example, suppose a client files a claim that an appliance was damaged under your care. In that case, commercial general liability insurance covers the legal fees incurred or any settlements you may be required to pay.

Worker’s Compensation

Workers compensation is mandatory in most states, even with one employee. If the person is injured while at the job, the policy covers the medical expenses, lost wages and settlement if the person decides to take legal action against you.

Business Auto Insurance

It covers the vehicle used for business. For example, you are involved in an accident while on the day to day business errands, the policy covers the cost of repairs.

Bailee’s Insurance 

The insurance protects customer appliances while in your possession. If you carry out repairs at your shop, you are legally responsible for the appliances at your business premises. In the event of theft, fire, or vandalism, the insurance will cover all repair and replacement costs of the damaged property.

Some of the policies can be purchased individually or comprehensively where various policies are combined under a single policy.

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