Auto garage and body shop owners must consistently be aware of the fine print when it comes to their property coinsurance policies. Coinsurance is especially important for owners in your industry because when damages are incurred on your company property, you’ll need to make sure you have enough coinsurance to reimburse you so you’re not left scrambling when it comes to your auto repair shop insurance.

Many small business owners do not understand coinsurance or do not have the necessary information in order to get the right rate that will be most beneficial to them. Most commercial property insurance policies contain a coinsurance clause that may leave you with a large bill if you happen to miscalculate our insurance needs. The basic reason coinsurance policies exist is to make business owners are insuring their property to an adequate value.

Coinsurance requires an insured party to be a coinsurer in the event that the policy limits are not sufficient to the amount of insurance required. Here’s an example:

The basic formula for determining adequacy of insurance limits is:

(Actual amount of insurance/required amount of insurance) x amount of loss = amount insurer will pay

Putting this formula to use, let’s assume we have a building valued at $100,000 with contents valued at $150,000. The total insurable value is the sum of these numbers, $250,000. Under an 80% coinsurance clause, a business owner would be expected to insurance 80% of his valuables, or $200,000.

In one scenario, if the amount of the loss in a certain incident is $50,000 and the insured only carries $150,000 in coverage, then:

($150,000/$200,000) x $50,000 = $37,500. Subtracting this number from $50,000, the business would have to cover $12,500 in costs.

On the flipside, the insured has the full $200,000 required:

($200,000/$200,000) x $50,000 = $50,000. In this case, your policy costs would be taken care of.

Coinsurance can have a major effect on your business in the short-term and long-term. Make sure you square the terms with your insurance provider of your coinsurance policy for the property of your auto garage.

For more information on coinsurance and how it can affect your business and your garage insurance, contact Wolpert Insurance & Risk Management today.

Auto garage and body shop owners must consistently be aware of the fine print when it comes to their property coinsurance policies. Coinsurance is especially important for owners in your industry because when damages are incurred on your company property, you’ll need to make sure you have enough coinsurance to reimburse you so you’re not left scrambling when it comes to your auto repair shop insurance.
Many small business owners do not understand coinsurance or do not have the necessary information in order to get the right rate that will be most beneficial to them. Most commercial property insurance policies contain a coinsurance clause that may leave you with a large bill if you happen to miscalculate our insurance needs. The basic reason coinsurance policies exist is to make business owners are insuring their property to an adequate value.

Coinsurance requires an insured party to be a coinsurer in the event that the policy limits are not sufficient to the amount of insurance required. Here’s an example:

The basic formula for determining adequacy of insurance limits is:

(Actual amount of insurance/required amount of insurance) x amount of loss = amount insurer will pay

Putting this formula to use, let’s assume we have a building valued at $100,000 with contents valued at $150,000. The total insurable value is the sum of these numbers, $250,000. Under an 80% coinsurance clause, a business owner would be expected to insurance 80% of his valuables, or $200,000.

In one scenario, if the amount of the loss in a certain incident is $50,000 and the insured only carries $150,000 in coverage, then:

($150,000/$200,000) x $50,000 = $37,500. Subtracting this number from $50,000, the business would have to cover $12,500 in costs.

On the flipside, the insured has the full $200,000 required:

($200,000/$200,000) x $50,000 = $50,000. In this case, your policy costs would be taken care of.

Coinsurance can have a major effect on your business in the short-term and long-term. Make sure you square the terms with your insurance provider of your coinsurance policy for the property of your auto garage.

For more information on coinsurance and how it can affect your business and your garage insurance, contact Wolpert Insurance & Risk Management today.

When working in an auto shop, it’s important for your employees to stay safe at all times. Whether it’s changing transmissions or changing brake fluid, employees must adhere to a high safety standard so they avoid injuries to themselves and others. One common type of car maintenance that is very routine is changing tires and any services relating to them. Even something like rotating or changing tires can lead to injuries. To keep your employees safe while changing tires and to avoid any garage insurance claims, here are some standard safety tips:

1. Use the positive lock-down device to hold the wheel on the tire machine before you attempt to inflate the tire. If the tire is mounted on a machine that does not have a positive lock-down device, perform inflation in a safety cage.
2. Use an extension air hose with an air pressure gauge to check the tire pressure. Do not inflate beyond 40 pounds of air pressure when trying to seat the beads. If both beads are not completely seated when pressure reaches 40 pounds, completely deflate the assembly, reposition the tire and the tube on the rim and re-inflate.
3. Inspect both sides of the tire to be sure that the beads are evenly seated.
4. After the beads are fully seated, adjust the tire pressure to meet the operating pressure labeled on the tire sidewall.
5. Replace a tire on a rim with another tire of exactly the same rim diameter designation and suffix letters.
6. Do not mount or use tires, tubes, wheels or rims that are split, cracked, cut or contain signs of other structural defects.
7. Wear leather gloves when removing rocks, glass and other foreign materials from the tire tread.

At Wolpert Insurance & Risk Management, we want those working in auto shops to have the safety information they need. By passing these tips off to your employees, you’ll be putting in a concerted effort to help safety remain a high priority at your business. For more information, contact us today.

When working in an auto shop, it’s important for your employees to stay safe at all times. Whether it’s changing transmissions or changing brake fluid, employees must adhere to a high safety standard so they avoid injuries to themselves and others. One common type of car maintenance that is very routine is changing tires and any services relating to them. Even something like rotating or changing tires can lead to injuries. To keep your employees safe while changing tires and to avoid any garage insurance claims, here are some standard safety tips:
1. Use the positive lock-down device to hold the wheel on the tire machine before you attempt to inflate the tire. If the tire is mounted on a machine that does not have a positive lock-down device, perform inflation in a safety cage.
2. Use an extension air hose with an air pressure gauge to check the tire pressure. Do not inflate beyond 40 pounds of air pressure when trying to seat the beads. If both beads are not completely seated when pressure reaches 40 pounds, completely deflate the assembly, reposition the tire and the tube on the rim and re-inflate.
3. Inspect both sides of the tire to be sure that the beads are evenly seated.
4. After the beads are fully seated, adjust the tire pressure to meet the operating pressure labeled on the tire sidewall.
5. Replace a tire on a rim with another tire of exactly the same rim diameter designation and suffix letters.
6. Do not mount or use tires, tubes, wheels or rims that are split, cracked, cut or contain signs of other structural defects.
7. Wear leather gloves when removing rocks, glass and other foreign materials from the tire tread.

At Wolpert Insurance & Risk Management, we want those working in auto shops to have the safety information they need. By passing these tips off to your employees, you’ll be putting in a concerted effort to help safety remain a high priority at your business. For more information, contact us today.

Owning an auto shop isn’t easy, and one thing owners have to keep in mind at all times is safety. There are a variety of issues that can befall an auto shop at any given time, so being aware of what can happen should be mandatory in your business. Otherwise, you may need to file a claim on your auto garage insurance. Here is a list of seven simple, yet effective ways for employees to stay safe:

1. Unauthorized people should never be allowed to use any shop equipment whatsoever. Unauthorized individuals should also be prohibited from visiting or loitering in the actual shop.
2. Never leave a machine operating while it is unattended. An employee who walks by a machine, or goes to use it who is unaware that is already on, may risk injury.
3. Check emergency equipment, including emergency lighting, first aid kits, fire extinguishers and eye wash stations at least every month. It’s important to make sure things such as first aid kits are always fully stocked with bandages, tape, ointments and other first aid items so when the time comes to use them, they are available. Also, fire extinguishers should be 100% full at all times.
4. Check all hand tools, power tools and large shop equipment for damages or general wear and tear. You may find that you need to order replacement parts, cords or guards. Power tools and equipment that are damaged should never be used because they could malfunction.
5. Maintain good safety practices, including:
• Clean- up spills immediately.
• Keep walkways and stairs free of tripping hazards.
• Properly store oily/dirty rags in a container and empty the container every night.
• Remove excess oils and filings from your shop machinery to keep them clean and safe for use.
6. Make sure employees never wear jewelry or loose clothing when using machinery, especially those that rotate.
7. Let it be known that if employees are confused about anything pertaining to your auto shops safety procedures , they should contact a supervisor or another co-worker for assistance.

At Wolpert Insurance & Risk Management, we want auto shop owners to understand that maintaining proper safety in their place of business is paramount to maintaining success for the future. For more information about shop safety or auto shop insurance, contact us today for more information.

As a garage or auto body shop owner, you require a specific insurance program that can effectively address the unique risks your business faces on a daily basis. A garage insurance policy does just that; with customized coverage options, you can secure a commercial insurance program specifically designed to fit the needs of your distinct garage or auto repair venue.

Before settling on a packaged policy, it’s vital that you understand each type of coverage available, how it can benefit your commercial venture and what the effect could be if you go without it. The first coverage you should be aware of is your legal liability options.

Garagekeepers Legal Liability:

This policy in particular covers the legal liability for garage shops, repair centers, dealers, etc.

Garagekeepers Legal Liability coverage protects a customer’s vehicle when you are keeping it at a covered location for parking or storing, or to perform service. Additionally it helps to protect your financial responsibility by providing protection in the event that a client’s vehicle is damaged by fire, theft, vandalism or collision.

In order to properly enroll in a Garagekeepers Legal Liability program the policyholder must select limits for the coverage; which will in turn determine the maximum amount of coverage available to you on a per-occurrence basis.

Imagine one car, or a garage full of cars, is damaged while in your care; where would you stand without the proper coverage? With Garagekeepers Legal Liability insurance, the total amount, by which you are covered, is based on the limit you choose. Most often, you can select from a variety of options depending on your location, however. Keep in mind that if you have more than one storage location, each venue must be listed and documented separately and will be issued its own insurance.

Interested in learning more about Garagekeepers Legal Liability? Contact the coverage experts at Wolpert Insurance to discover your specialized commercial insurance options today!

Does your auto shop or garage gave a specialized spray booth for painting cars? If painting cars is a primary aspect of your business, how would you manage if it ever broke down for an extended period of time? Sometimes the unexpected can happen to a small business whether it’s weather damage or equipment breakdown, and when this happens some companies lose out on valuable profits over time. In order to prevent this from happening to your small business, make sure you carry equipment breakdown coverage to go a long with your garage insurance.
There are many repair shops out there, but what sets your business apart is your ability to add a fresh coat of paint to a customer’s car. But since equipment can breakdown at any given time, how confident are you in your coverage? As a small business owner, can you afford to shut down your operations for several weeks or possibly longer if your auto spray booth breaks down? No small business can go on without their main product and your garage is no different. A garage keeper’s insurance policy can help you get through this type of situation.

Equipment breakdown coverage is the final link your business needs in case the unexpected ever happens. With a piece of equipment such as a spray booth, there are a lot of different things that could go wrong, so why not get the best policy you can? Contact our agency today for more information on garage keeper’s insurance and equipment breakdown coverage.

Does your auto shop or garage gave a specialized spray booth for painting cars? If painting cars is a primary aspect of your business, how would you manage if it ever broke down for an extended period of time? Sometimes the unexpected can happen to a small business whether it’s weather damage or equipment breakdown, and when this happens some companies lose out on valuable profits over time. In order to prevent this from happening to your small business, make sure you carry equipment breakdown coverage to go a long with your garage insurance.

There are many repair shops out there, but what sets your business apart is your ability to add a fresh coat of paint to a customer’s car. But since equipment can breakdown at any given time, how confident are you in your coverage? As a small business owner, can you afford to shut down your operations for several weeks or possibly longer if your auto spray booth breaks down? No small business can go on without their main product and your garage is no different. A garage keeper’s insurance policy can help you get through this type of situation.

Equipment breakdown coverage is the final link your business needs in case the unexpected ever happens. With a piece of equipment such as a spray booth, there are a lot of different things that could go wrong, so why not get the best policy you can? Contact our agency today for more information on garage keeper’s insurance and equipment breakdown coverage.