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Essential coverages for your auto parts store
When you also have equipment or operate from a store
All Basic plan benefits and:
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
As an auto parts store remember that in addition to your business location you hold an incredible amount of property inside that could be damaged or destroyed. There are potential deliveries that you make in store trucks and more, and you'll need coverage of the drivers and third-parties in case of an accident. Cover every potential issue from injury on the job to rebuilding and refilling your shop with us.
Business Owners Policy (BOP) insurance combines several policies in one. The insurance costs less than buying General Liability and Commercial Property separately. BOP combines the benefits of General Liability from protecting your business against lawsuits and Commercial Property insurance from protecting your property against fire, theft and certain weather events.
Workers' Compensation is a state-mandated auto parts store insurance. It covers your employees' medical bills, healthcare, pharmaceutical and rehabilitation costs from work-related injuries or sickness. The insurance will also provide a portion of the salary while they are out of work. They, in turn, relinquish the right to sue in these cases.
You can't monitor your business 100% of the time. Crime Insurance is a type of auto parts store insurance that protects your business form the losses resulting to internal and external criminal acts like robbery, forgery, extortion and computer fraud.
You can't always expect that the products you sell are in perfect working order. When a product is destroyed under normal working conditions and causes injury or damage to property or to the owner, you'll be glad to have this auto parts store insurance. Product Liability will pay for the legal and court costs if the products you sold have caused any harm to the customer.
Every automotive parts store relies on tools and equipment to keep the business going. When equipment experiences a mechanical or electrical breakdown, the cost to repair or replace the equipment can be large. Equipment Breakdown insurance protects your business against the many short-term and long-term consequences of a broken equipment.
Businesses have higher liability issues and coverage that a personal auto insurance won't be able to cover. So, include Commercial Auto in your auto parts store insurance. Commercial Auto insurance also covers vehicles used specifically for your business like tow trucks and delivery vans.
Establishments in this industry focus on selling parts and accessories for motor vehicles. Stores include car and truck supply, automotive stereo, used parts dealers and tire dealers. Many establishments in this industry join their services with established repair shops.
Auto stores and tire shops can face accidents like customers tripping and falling in the store or parking lot. Damage to your inventory due to a catastrophe like a fire or natural disaster. Loss of income from a catastrophic event. Theft, cyber breaches, employee lawsuits are just a few of the many risks a tire shop and an auto supply store faces.
Your auto parts store supplies parts to your customers. When the product is found to be defective, causes damage to the vehicle, or even injures those in the car, your business will be held liable. Product Liability insurance covers you from customer claims for physical injury or property damage directly resulting from the parts you sell them. This insurance also works if you poorly repair a vehicle, causing damage or injury to the customer.
If you have employees then you definitely need Workers' Compensation for your auto parts store. Workers' Compensation is mandatory in most states. There is certain criteria that exempts your store from carrying a Workers' Compensation.
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