Refrigerator Repairman Liability Insurance
There are more than 58,000 appliance repair businesses in the US, and together, they make up a $5 billion field that’s growing at a pace of 1.2 percent per year (Source: IBISWorld). So it makes sense to want to do everything possible to stay in business and even rise above the competition in this industry.
Just one of the things you can do is get refrigerator repairman liability insurance for your business. Here are some examples of the areas this coverage will apply to.
Liability Insurance Will Cover These Expenses
When you obtain refrigerator repairman liability insurance, you can rest assured that it will cover the following expenses that you might come across as a business owner:
- The amount of the court settlement that you’ll have to pay if you lose the case
- Your legal fees, which could include the costs required to gather legal documents, pay your lawyer, and get the help of witnesses when necessary
- Any bonds that the judge orders you to pay for
- The costs associated with the time you took away from your refrigerator repair business to help with your legal case
Who Is Covered?
The main fact you need to know about your refrigerator repairman liability insurance is that anyone who works for your business will be covered. This means that if you have a staff of people working for you – whether they fix appliances, advertise your business, or answer phones – your general liability coverage will extend to them. Similarly, any partners, investors, or other people who have an interest in your business will be covered by your refrigerator repairman liability insurance policy.
Common General Liability Coverages
Bodily Injury: One of the most common ways you can use your refrigerator repairman liability insurance is to pay for the medical costs of anyone who gets hurt on the premises where your business is located. Even if you drive to your clients so you can fix their refrigerators, you will still have this coverage. This means that if a client gets hurt in their own kitchen when they trip over your toolbox, any doctor bills they have as a result will be paid by your business insurance.
Property Damage: Another reason that every refrigerator repairman needs general liability is that it can fix any damage you or your business cause to other people’s property. So if you make a mistake while repairing a refrigerator and end up making the problem worse, your property damage coverage will pay for further repairs or even a replacement. This also applies if you damage anything else in their house.
Products and Completed Ops: If a customer is ever injured as a result of hiring you to fix their refrigerator, products and completed ops can pay for their medical bills. This means that if you fail to tighten a screw all the way and the customer ends up hurt as a result, your refrigerator repairman liability insurance will cover their medical bills.
Medical Payments: Sometimes, customers get injured but do not want to initiate a lawsuit. They can still ensure their medical treatment is paid for when you have medical payments coverage.
Personal and Advertising Injury: There might come a time when someone accuses of you copyright infringement, slander, or libel. If this ever happens, you’ll have coverage for your legal fees.
Damage to Premises Rented to You: If you ever need to rent a building for your refrigerator repair business, this part of your liability insurance can pay for repairs if it is ever damaged.
Once you have an idea of what a good refrigerator repairman liability insurance policy should contain, you’re ready to contact USA Business Insurance to learn more.