Insurance for Other Equipment Repair and Maintenance
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What Insurance Do Other Equipment Repair and Maintenance Need?
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Employment Practice Liability Insurance, or EPLI, protects you from employment-related claims. If you're accused wrongful termination, discrimination in hiring or firing or workplace harassment, EPLI covers your defense and settlement costs.
Business Owners Policy (BOP) protects you from business liability and property damage at a lower cost. BOP covers claims resulting from fire, theft & disasters. BOP also covers claims of bodily injury or property damage during your business operations.
Frequently Asked Questions
Why do Equipment Repair and Maintenance businesses need insurance?
In this industry, workers maintain and repair electronic and precision machinery such as dental equipment, diagnostic imaging equipment, navigational instruments (e.g., radar, sonar), optical instruments, precision equipment calibration, surgical instruments, and weighing equipment (e.g., balance, scales).
Your business needs insurance to protect your personal assets from the many potential risks that can occur on a daily basis. These risks have the potential to drain all your personal and business finances if you aren't protected. Insurance covers the expenses related to these risks for you so you don't have to worry about anything.
What risks do Equipment Repair and Maintenance businesses face?
Below are some examples of equipment repair and maintenance businesses can face:
- Your client trips and falls on your work site. They suffer physical injuries, making you responsible for medical payments.
- A client claims that your equipment repair is subpar. They sue your business for offering low-quality services.
- A prospective employee that you didn't hire sues your business claiming that he is more than qualified for the position.
How much does insurance for Equipment Repair and Maintenance businesses cost?
The cost of insurance for equipment repair and maintenance businesses depends on many factors, including the size of your business and the coverage needed, in order to be able to get a quote. But if you want an insurance quote fast, simply apply online and receive a free quote in less than five minutes.