Tire Shop Liability Insurance (No Used Tire Shops)
As the owner of a tire shop you have a reliable source of income that also comes with many responsibilities. You must keep track of the day to day details of employees, customers, suppliers and more. Keeping your customers happy is a priority while keeping your company profitable is also. That’s why you need to protect your company legally and financially with general liability insurance for tire shops.
Bodily Injury Coverage
Bodily injury is the section of your general liability insurance for tire shops that protects you when accidents happen to customers. If a customer has an accident in your tire shop and injures themselves physically, they may sue your company. Bodily injury insurance protects you from potential lawsuits and financial problems by paying for the medical care that the customer needs for treatment of the injuries.
Property Damage Coverage
General liability insurance for tire shops also protects your company when accidents cause property damages. If a customer’s personal property comes to harm while it is at your business location, you can be held legally responsible. Property damages will pay to have repairs made or it will pay for replacements so that your company is not directly impacted financially.
Products And Completed Operations Coverage
Your tire shop sells many products in addition to providing tire repair and maintenance services. When you sell products, you can be held legally liable if a product has problems that harms someone or damages their property. Similar liability risks exist for services. If a customer feels that their injuries or damages were caused by something your tire shop did or didn’t do, they may sue you. General liability insurance for tire shops includes products and completed operations coverage to protect you from these risks.
Personal And Advertising Injury
Customers, suppliers or other entities may file legal actions against your company when they feel that they were personally harmed by you. They may also file suit if they feel your advertising caused harm. Personal injuries can include claims of libel or slander, and advertising injuries can include claims of trademark violation or improper image licensing. General liability insurance for tire shops includes personal and advertising injury coverage to help protect you from these types of lawsuits if they arise.
Damage To Premises Rented To You
If you rent the shop building that your business operates from, the owner of that building may require you to carry rental premises protection. Damage to premises rented by you is an option available as part of your general liability insurance policy. If your company causes damages or loss to the buildings and structures that you rent or lease, this insurance will pay for repairs and replacements.
Medical Expense Limit
Medical expense limit coverage is similar to bodily injury protection but on a small scale. When a customer has an accident at your tire shop and sustains minor injuries, this portion of your general liability insurance policy can offer to pay for the medical treatment costs. This can be accomplished without any admission of fault, and it can help deter larger lawsuits later.
Limits Of Liability Insurance
- Each Occurrence – Your policy will limit how much benefits can be paid for each claim per person.
- General Aggregate – A general aggregate is the total amount of benefits your policy will pay regardless of how many times claims are made. Once the total aggregate maximum limit is met, a general liability policy will be declare as exhausted and unable to pay additional claims.