posted
I was surprised to find out that since 1980 the Business Insurance I have doesn't cover damage to a vehicle I am working on.
I fired them! They didn't tell me a lot of things they won't cover.
Under my current (soon to be gone)policy, I have to pay for damages to a vehicle in my shop, in the parking lot, and I can't pick it up or deliver it.
If the car does suffer damage, the owner's insurance does pay to fix the car....BUT, THEY WILL IN TURN SEEK COMPENSATION FROM ME! (OR YOU) Even if the vehicle is in the parking lot, even if it is front of the plumbing shop next door (I rent in a light industrial strip complex) I get sued.
Better check your policy. This might give you a heads up on how to avoid this problem before it wipes you out.
[ May 09, 2007, 01:00 PM: Message edited by: Dave Draper ]
posted
I drove a customers vehicle into a partially opened door at THEIR facility.I wasnt covered even though I paid huge premiums.I fired that agent and found one that specializes in insurance for small commercial concerns.We sat down and discussed all aspects of my business.Small business policies will already have a preset of basics for you to look at. It pays to go over your business,one step at a time.Tell the agent about every sign or project you ever did.Make sure your policy has liability for a sign that falls,fails or otherwise causes harm or damage to any person or another's property. Lightning protection on all electronic equipment is necessary in this day and age. Im sure the list is endless....hopefully others will respond and add input
posted
Hiya Dave, That's just one of several types of coverage most sign companies should, at least, consider that is above and beyond general liability insurance. Garagekeepers' insurance is generally a seperate endorsement on most policies and it covers vehicles, other than your own, in your posession. From my research, the bummer is that the maximum aamount insurance will cover is somewhat limited. In addition, there is care and custody insurance which protects non-motorized valuables in your posession. And inland marine insurance covers items, such as signs, graphics or samples that get damaged during transit. This is why having a good and open relationship with your insurance agent is so important. He (or she) needs to understand what you do and provide solutions that protect you and your business from unexpected losses.
Havin' fun,
Checkers
-------------------- a.k.a. Brian Born www.CheckersCustom.com Harrisburg, Pa Work Smart, Play Hard Posts: 3775 | From: Harrisburg, Pa. U.S.A. | Registered: Nov 1998
| IP: Logged |
posted
I have business liability insurance, and also a commercial policy for my garage. I was also shocked awhile back when I found out that a customer's vehicle wouldn't be covered if something happened to it here. The premiums sure are cheaper than paying the damages! Love....Jill
Posts: 8834 | From: Butler, PA, USA | Registered: Jan 2001
| IP: Logged |
posted
Dave, I have to have commercial insurance on my shop truck in order for vehicles in my shop to be covered.( Called a "garage keepers" policy)Where do the under writers come up with this crap.Anyway, with shop being attached to house it has to be a whole seperate policie.I had a custom car in for airbrush work and I added a rider for a month to be on the safe side for only a few bucks.My coverage annualy is around $1300.Thats content(tools, computers, cutters, spray guns etc.)Also installations.
-------------------- Dale Flewelling Art Attack Signs & Design Newport, NH Posts: 114 | From: Newport, New Hampshire | Registered: Dec 2001
| IP: Logged |
If the customer leaves it on you property it is his insurance that has to cover any damage if broken into or damaged... as he has to sign you a waiver stating were he left it and the reason why. Mean while I could park on your lot and have damage done to my vehicle but cannot come after you becauce of it is without a signiture of reason.
If it is in your shop and it burns to the ground then it is under your commercial waiver.
If you or an employee damage the velhicle in transport then it is under your commercial waiver.
Even if you painted or Airbrush a job on a vehicle and they say "REMOVE IT!" But you damage the paint job your commercial insurance will cover it but at the costs of the premiume. Deduction on you policy.
They look at the bigger picture of what type of jobs you do and how much it will cost them if damage is done!
Ask myself how I know after living with my wife of 32 years of proffesional insurance license.
[ May 09, 2007, 12:48 PM: Message edited by: Stephen Deveau ]
-------------------- Stephen Deveau RavenGraphics Insinx Digital Displays
Letting Your Imagination Run Wild! Posts: 4327 | From: Lower Sackville, Nova Scotia, Canada | Registered: Jan 2000
| IP: Logged |
Printer-friendly view of this topic