Insurance for Consumer Electronics Repair and Maintenance

In this industry, the workers maintain and repair electronics like cameras, photographic equipment, radios, stereos, televisions, and video cassette recorders or VCRs (without retailing new electronics).

Depending on the state you are in, insurance is often mandatory. You'll be faced with hefty fines when you do not carry a state-mandated insurance for your business, particularly if you meet the requirements to carry one.

Insurance safeguards your investment and minimizes financial risks. With insurance, unexpected risks like property damage due to fire or natural disaster, injury to your employee or lawsuits are minimized. The insurance covers the costs until the policy limits.

The type of business you offer comes with risks, and here are some of those:

• Your customer's electronics have malfunctioned, causing them serious financial trouble. You can get sued for not meeting your customer's expectations of repair or maintenance.
• One of your employees falls and suffers an injury at work. You'll be responsible for the medical care and rehabilitation as well as lost wage until they can return to work.
• A customer injury on your business premises like a slip and fall and your business is held liable, you'll be faced with a lawsuit and liability claim.

Insurance cost depends on the size of your business, the number of employees you have, the nature of operations and other essential factors. The larger your business is the more insurance you'll need.

On average, expect to pay about $500 for General Liability insurance, $900 on Business Owners Policy and $1000 on Workers' Compensation per year.

Your rates could be lower. Use our online assessment tool to get a free quote or call our customer service representatives. We'll help you find the best rates for your insurance.