Appliance Repair Services Insurance In Florida

You’re the first person that folks call when their appliances start to go haywire – and you like it that way. Your business is a trusted name in your community; everyone knows that you have a way of turning malfunctioning fridges and ovens into beautiful works of (functional!) art.

Policies Available for Appliance Repair Business Insurance:

• General liability insurance

Benefits:

• It can protect your business from certain claims.
• Proof of insurance can help customers feel good about your work.
• It may be legally required where you’re located.
  

  What Type of Insurance Do I Need for My Appliance Repair Business?

  As an appliance installation and repair specialist, it’s likely that you’re exposed to a lot of risk when working on customer projects. After all, not every fix works – and if your work accidentally causes more damage to a customer’s home, you’ll want insurance coverage to help cover the financial costs to repair that damage.

  So what types of insurance policies should appliance repair business owners look into? Take a look at our recommendations:

  General Liability Insurance

  General liability insurance — also known as commercial general liability (CGL) insurance — can cover the costs associated with third-party property damage and injuries that may have happened while you were working on a customer’s project. It can also cover you in case a customer or vendor hurts themselves while visiting you at your office, and decides to sue you for their medical expenses.

  For example, if you accidentally damaged a customer’s kitchen counters while repairing their fridge, your general liability insurance may cover the costs of fixing those counters, plus any legal fees if the customer decides to sue you (up to your policy limit).

  As an appliance repair and installation expert, it’s safe to say you’re spending most of your time on customer sites. That’s why it’s a good idea to carry general liability insurance, as it can provide you with crucial protection.

  Let’s take a look at another example. Say an employee repaired a customer’s dishwasher in their kitchen. But not a day goes by before the dishwasher breaks again, causing a bunch of water to leak out and damage the surrounding kitchen cabinets and floor. Your client is livid and demands you pay to fix the damage.

  In this example, your CGL policy would cover some of the costs of fixing that damaged kitchen and dishwasher.

  General liability insurance usually covers:

  • Bodily injury
  • Third-party property damage
  • Personal and advertising injury
  • Medical expenses
  • And more

  General liability insurance usually does not cover:

  • Damage to your property
  • Professional services
  • Workers compensation or injury to your employees
  • And more
    

    Why Should I Get Insurance for My Appliance Repair Business?

    Let’s face it: You worked hard to get your appliance repair and installation business up and running. From getting your first customers to hiring your team, you’ve poured your sweat into making sure your business sticks around for the long haul.

    That’s exactly why you should get appliance repair business insurance – because without it, your business could fall victim to a claim that could be financially catastrophic to your business.

    While we don’t want to be alarmist, it is important for small business owners to know that accidents, incidents, and lawsuits are a surprisingly common part of the entrepreneurial experience. For example, did you know that within the next 10 years, 40% of small business owners are likely to experience a property or general liability claim?

    Or that the most common claims against small business owners – like appliance repair specialists! – happen to be among the most expensive? Take a look:

    • Customer Slip and Fall – $20,000
    • Customer Injury and Damage – $30,000
    • Reputational Harm – $50,000

    Those are just average claims – meaning that it could be a lot more expensive, depending on the amount of damage being claimed by a customer.

    Let’s shift gears and take a look at another reason why you should consider insurance for your appliance repair business: it could be required to get licensed.

    Most states consider appliance repair and installation specialists to be contractors, meaning you may be required to get a contractor’s license to do work at a customer’s property. Of these states, many require both proof of general liability insurance and workers compensation insurance (if you have employees).

    Whether you look at it from a financial standpoint or from a licensing standpoint, getting appliance repair business insurance makes a lot of sense. Plus, having insurance may even make customers feel more confident about working with you, since they know they may be covered if you damage anything.

    Call Dorsal Insurance today for a quote at 786.601.2485