Appliance Repair Business Insurance
Appliance repair businesses need insurance to protect against risks like employee injuries and property damage. Key coverage includes general liability, workers’ compensation, commercial property, and professional liability. Insurance costs vary based on business size and services. To get insurance, complete an online application, compare quotes, and select the best policy.
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Why do appliance repair businesses need insurance?
Appliance repair businesses face significant risks every day. Whether it’s an employee injuring their back while lifting a heavy appliance or accidentally causing damage to a customer’s home, these accidents can quickly lead to unexpected legal fees, repair costs, and medical bills. This is where appliance repair insurance comes in.
It helps to cover such unexpected situations, ensuring that your business stays protected and continues to help you stay in business. With the right insurance in place, you can focus on providing quality repair services without worrying about the potential risks that come with the job.
What types of insurance do appliance repair businesses need?
Appliance repair businesses need general liability insurance for third-party risks, workers' compensation for employee injuries, commercial property insurance for business equipment, and professional liability insurance for repair mistakes. These cover common risks and protect your business from legal and financial issues.
Business owner’s policy
This policy conveniently bundles commercial property and general liability insurance into one cost-effective plan for dealers. A BOP is ideal for securing auto shop insurance and shielding businesses from financial losses.
Under this plan
Customer injuries
Damaged customer vehicles
Damaged business property
Commercial auto insurance
A policy designed for dealers and repair shops helps pay for property damage and medical bills after an accident. It is required in many states for businesses that own cars.
Under this plan
Car accident repair costs
Vandalism and theft
Weather damage
General liability insurance
This policy covers basic liabilities for auto service businesses, protecting against dealer risks like customer injury at a repair shop. To maximize savings, businesses can bundle it with property insurance or a business owner’s policy for broader coverage.
Under this plan
Customer injuries at a repair shop
Accidental vehicle damage
Slander and advertising injuries
Workers’ compensation insurance
Workers’ comp is required for auto shops in almost every state to cover employee injuries and related costs. It protects both employees and sole proprietors by handling work injury costs that health insurance might deny.
Under this plan
Employee medical expenses
Partial wage reimbursement
Lawsuits
Tools and Equipment Protection Plan
Contractor’s tools and equipment insurance helps protect your construction gear no matter where you go. This policy keeps your tools and equipment safe while you’re moving them (in transit) or using them at a jobsite. To qualify, your items usually need to be valued under $10,000.
Under this plan
Equipment less than five years old
Mobile equipment
Small toolsa
Professional Liability Protection Plan
Professional liability insurance for contractors, also known as errors and omissions insurance, protects against financial losses when a construction mistake or oversight causes a lawsuit. This policy is key for handling claims related to your work and promises made to clients.
Under this plan
Accusations of negligence
Failure to complete construction
Failure to use promised materials
How much does appliance repair business insurance cost?
The cost of appliance repair business insurance depends on factors like the size of your business and the services you offer. Smaller shops with fewer employees typically pay less. The main factors that affect premiums include:
- Repair services offered
- Business property and equipment
- Business income
- Types of insurance coverage chosen
- Policy limits and deductibles
How do I get appliance repair business insurance?
Getting appliance repair business insurance is simple when you have your business details ready. You’ll need to provide basic information like revenue and the number of employees. With Eagle Nation, you can get insurance in three easy steps:
- Complete a free online application
- Compare insurance quotes and choose the best policy
- Pay for your policy and download a certificate of insurance
Eagle Nation’s licensed agents will help you find affordable coverage that fits your specific needs, whether you’re repairing dryers, washing machines, or other appliances, and whether you work independently or have employees.
Two ways to start your coverage
Quotes online
Talk to an agent
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FAQ’s Appliance Repair Business Insurance
Appliance repair business insurance typically costs between $39 to $49 per month, depending on factors like your provider, coverage limits, location, services, equipment, property, revenue, and the number of employees.
Homeowners, condo, and renters' insurance may cover appliances if a covered peril, such as fire or theft, causes the damage. However, it usually doesn't cover wear and tear or manufacturer defects. Optional coverage for electrical or mechanical breakdowns might be available through your home insurance policy.
Yes, appliance repair is a stable and well-paying career with flexibility and opportunities to work with interesting technology. Whether you want to be your own boss or work in a team, this trade offers a rewarding career.
While most states don't require a specific appliance repair license or certificate, you may need certifications like an EPA certification for handling refrigeration, depending on the types of repairs or appliances you service.
Appliance repair programs typically last about six weeks to a few months. These programs are shorter than trade school or college and don't usually require apprenticeships. After completion, you can start working on appliances in homes or businesses.
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"Appliance repair insurance covers all the key risks like employee injuries, property damage, and repair mistakes. The process was easy, and I was able to get a quote and select the right coverage quickly."