Shake hands with fellow auto shop owners. You share similar concerns about related business risks. Like others in the same industry, you need the commercial coverage that will stand you in good stead should damages be incurred.
See if you recognize anything about these specific insurance claims that were covered under existing policies.
Water Peril Damage
There was a calm before the storm, but then all bedlam broke loose as great big drops of rain fell incessantly to the earth. Following the strong storm, the roof of an auto repair place collapsed. What ensued was a powerful torrent of rainwater that flooded the shop. The flood incurred some serious damage to machinery, with a grand total of $35,000 of losses.
Fire Peril Damage
It all should have been standard procedure with a predictable outcome. But one day, a mechanic botched up big time while blowtorching some auto pieces together. The action created live sparks that ignited a fire onto some papers. The flames spread further until it caused $27,000 in related smoke and fire damages.
Theft Peril Damage
When one auto and truck repair business owner experienced a theft, he submitted an insurance claim to his carrier for the losses: two computers and various pieces of repair equipment. The police detectives were never able to trace the perpetuators of the crime and could not retrieve the stolen matter. Total losses amounted to $15,000.
Wind Peril Damage
Though tornadoes have always been quite common to the area, one auto, truck and motorcycle repair station owner never incurred any losses. Then, one unfortunate day, the whirlwind of a storm targeted the repairman’s vicinity and violently ripped off the rooftop. It took exactly one month for the repair work to be completed and involved $48,000 of expenses. Due to the inability to work from his repair station during the fix, the owner suffered an estimated $30,000 of business losses.
Vandal Peril Damage
One mechanic in particular irked the boss of an auto repair shop. He was rude, messy and lacked common sense necessary to deal with customers. The boss eventually fired the man but the worker never forgot the blow and promised himself he would one day take revenge. Revenge is precisely what he exacted just days after the break with employment. The man actually slipped into the shop after hours late at night and wreaked havoc by breaking both equipment and pipes indiscriminately. The business owner was left with $33,000 in resulting damages.