Refrigeration repair businesses need comprehensive insurance programs tailored to their needs. Like many other types of businesses, you face risks to your business property from fire, theft, vandalism and more. In addition, you have to protect your business from damage you might cause to other people’s property while you repair it and while your employees are driving your trucks or vans out on public roads.
Refrigeration repair shops may conduct repairs on-site at homes or businesses, or they may take customers’ appliances into the shop. Any number of adverse events could occur no matter where you work. You or your employees can damage a customer’s appliance during transport, while in your shop or during the course of making repairs.
Like any retailer or shop owner, the possibility for property damage to your building and business property or to your customers’ property is endless. Your shop can catch fire, damaging everything inside – including appliances that belong to customers, which are stored at your shop.
The specific business insurance policies that you need depend on where you work, the number of employees that you have and the types of services you provide. Any business that provides maintenance services requires special insurance policies and endorsements that address risks to:
- your building or shop.
- your own office equipment, computers, tools and equipment.
- your customers’ physical well-being while on your premises.
- your customers’ property while in your care.
- repair technicians driving company-owned vehicles.
A refrigeration repair business can be operated through a home-based business or by running a repair store. Regardless of your business location though, with a household appliance repair business you’ll repair your customers appliances, including refrigerators, dishwashers, washers, dryers, and more. Someone who is adept at fixing appliances will find household appliance repair to be a lucrative and rewarding profession. However, while you can run a successful business, you should also protect your business from risks associated with this line of work. Such risks include general liabilities, potential lawsuits following work you have done on your customer’s appliances, and everyday risks that most every business is exposed to like property damage or theft. Obtain proper refrigeration repair insurance to offer your business the best protection available.
Many businesses utilize equipment that is subject to mechanical or electrical breakdown. Examples are air conditioners, escalators, boilers, production equipment, and computer-controlled machine tools. A breakdown can damage both the equipment itself and other property. The result may be an expensive repair bill and lost income. Businesses can protect themselves against such events by purchasing equipment breakdown insurance.
In the business world, time is money, and time lost due to equipment failure can be very expensive. Even though you might think most equipment breakdowns are singular in nature such as one computer crashing, in reality, you could be facing a breakdown of your refrigeration system due to a power surge or short-circuit. That is where equipment breakdown insurance steps in, to protect you financially from lost time, lost product and/or lost revenue due to equipment failures.