Motorcycle service shops can be dangerous places. What’s more, motorcycle owners are passionate about their very personal and highly customized vehicles. If you own a motorcycle repair shop, you need a comprehensive motorcycle repair shop insurance program that is fully customized to your needs, just like your customers’ bikes are.
Be Aware of Risks to Your Business
Motorcycle service shops are entrusted to fix their customers’ highly valued, highly valuable machines. In addition, you are entrusted to keep those motorcycles safe during the process. Owners of motorcycle repair shops need to protect their customers’ property at all times as well as protect themselves from the following types of business risks:
- Slips and falls
- Worker illness or injury
- Faulty workmanship or parts
- Fire, bad weather, vandalism or theft
- Employee theft or crime
- Business interruption
Motorcycle Service Shop Business Insurance
You need multiple business insurance policies to protect your business. In addition, you must assess your need for garage liability insurance and garage keepers insurance – policies that are specifically designed to protect your customers’ property and your business in the wake of accidents, injuries or property damage.
- Business property insurance protects you if a fire, vandalism, smoke, theft or other event damages your property. It provides coverage for lost inventory, office equipment, computers and more. Most business property policies also include business income – or business interruption – coverage. This pays for rent, employee salaries and other expenses if your shop must close temporarily due to an unforeseen disruption.
- Commercial general liability (CGL) insurance provides protection for most basic liability issues that motorcycle repair shops could face. It protects you from the costs of lawsuits related to accidents, property damage and a variety of other mishaps. You will likely want to consider garage liability insurance, which provides several forms of liability insurance that are more specifically designed for the needs of garages and motorcycle repair shops.
- A business owners policy, or BOP, is a package policy designed for small businesses. It combines property, liability and business interruption coverage in one affordable policy.