Industry News

Garage & Towing Insurance Series...Tip #3...Mechanics need E&O?

 

Do you ever wonder what will happen if you make a mistake and damage a vehicle in your shop? I mean after a mutter a few choice four letter words 😀 Let's face it, mistakes happen let's get you protected for when they do. 

When someone hears Errors & Omissions or Professional Liability they may think, "well isn't that for doctors?" Yes, this is right but other professions are expected, if not required, to carry this coverage as well. If they don't they should!  

If a surgeon makes the wrong cut during surgery and the patient sues, their malpractice insurance (professional liability) will help protect the surgeon during the lawsuit. 

So what does this have to do with garagekeeper insurance or towing insurance? Mechanics should carry this style of coverage as well at their shop. Mechanics E&O insurance protects the mechanic for any faulty work or mistakes that may result in damage to what they are in working on. For example, you as the mechanic are swapping out an engine in a car and suddenly the brand new engine you are installing slips off the lift resulting in significant damages as it crashes to the floor. You'll likely find yourself on the hook for these damages and unless you have protection this could put you at significant risk if the item you are working on is big $$$.  

The basic Garage Owners Insurance policy does not provide Mechanics E&O coverage and not all insurance companies offer it. Without fully understanding your policy, one could be under the false impression that they have this coverage. However, this is a common mistake many business owners make and don't find out they are missing it until it is to late. Don't make a costly mistake! If you are unsure about your policy or even if you just want to confirm you are protected click the link below and I'll happily help you out.  

In Tip #2 we discussed the various types of businesses we work with within the Automotive industry. If you or someone you know is working within the industry, you should have them give us a call. We strive to minimize your premiums and maximize your coverage so you and your business are protected from all of the unexpected AND we'll keep it as simple as possible

Check-in with us in a few weeks to get Tip #4 from us! We hope this series has helped thus far and we are excited to keep sharing the tips we use everyday to help our Vermont and New England insurance clients have a better insurance experience. Click the link below to get started:

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