--Shop Owners, who do you insure your shop through?

So I am shopping around for insurance, either garage liability or garage keepers insurance

any insight? prices, companies used, good bad experiences.

Sorry for the OT thread.

 

maybe the morning guys can help

 

i went with e surance, cheapest around and A rated

 

Grundy has a "Restorer and Builder" insurance policy that includes

1. Garagekeeper’s Liability
2. Cars Being Restored
3. Vehicles Under Construction
4. Tools and Equipment
5. Commercial Auto
6. Agreed Value
7. Building and Contents

http://www.grundy.com/restorer/

 

My experience is that it's hard to find someone to insure you, especially if you are a new company. Prices are sky high if they are even offering the insurance. I found several places when I looked (2 yrs ago) that had this insurance product but were not accepting any new customers.

Best advise I can give you is to find a good insurance agent that specializes in business insurance and has experience with custom car places.

 

state farm

 

It is currently a very compe***ive commercial insurance market,so shop around. I use Nationwide in my vet hospital-yeah,way different from a garage-and just renegotiated the premium down to 12K from 19 K.

I'd suggest finding a local insurance agency that was an independent agent who could search lots of companies, get their best offer and then go to the big boys for a compe***ive quote.

 

Thanks for the input guys, Grundy seams like they are more tailored to my needs, but I am going to shop around.

 

Kail,
I am an insurance agent in southern california and I love to write auto shops. I am an independent agent, so i have access to dozens of companies and have really compe***ive rates. it is difficult to find coverage for newer shops, but it can be done, and shops that have been around over a year can be covered pretty easily. we are in a soft insurance market right now, so companies are competing for clients' business. the last auto shop I wrote, I saved them 24%.

 

Be aware of the insurance hook called the annual audit. Many carriers are always a great price on the initial sale but then try to make it up in the additional premium ***essment after the audit. Be very carefull in your ***essing projected payroll and sales as these are what is looked at . Make sure you understand primary and direct primary coverage as well as making sure limits and coverage deductibles are the same when comparing rates.
Insurance companies are always quick to say they are saving you money .The real test of an insurance carrier comes when they need to step up and honor their part of the contract. How well the claims staff resolves things , Ect.