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Insurance requirements

Discussion in 'Business Management' started by Jb1983, Feb 25, 2019.

  1. Jb1983

    Jb1983 Member

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    Im just moving in to a commercial location and getting insurance quotes etc for my sign business. My insurer is telling me that not only do I need liability insurance but I also need a "garage policy" for working on vehicles as well as a "ship repairers" policy to work on boats!! Does this not seem overboard? Im not "repairing" any SHIPS, heck im just putting stickers on them!!

    Anyone in the BC or Canada lands have any insight on this?
     
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  2. FireSprint.com

    FireSprint.com Merchant Member

    Sorry, not in Canada, but here in the states our agent told us the same thing back when we were installing vehicle graphics. There are tons of insurance agents. Servey a few of them to get more opinions from the professionals.
     
  3. equippaint

    equippaint Very Active Member

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    You really should have garage keepers (not just garage liability) if you have customers vehicles in your possession. I personally would not worry about boats unless they were also in your possession on your property. Typically, a garage policy is your GL and you don't need 2 separate ones.
     
  4. White Haus

    White Haus Formally known as RJPW..........

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    We're in Winnipeg MB and have garage keepers policy on our insurance as we often have customers' vehicles in our shop.

    It's not very often that we have boats in here (other than my own personal boat) and I don't believe we have specific insurance for boats.

    Does the "ship repairer's" insurance relate to doing installs at marinas etc or specifically to having boats in your shop? I'd check out the fine print and see if it is indeed a requirement. On one hand you never want to skimp out on insurance, especially when it come to your business, but on the other hand you don't want to be paying for insurance that you don't need.

    Hope you guys are recovering from the snow! If it makes you feel better it's -30 without the windchill this morning in Winterpeg. Sigh....
     
  5. fresh

    fresh Very Active Member

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    We were told something similar when I updated my policy. I NOPE'd out of that right away. There is no way I'm paying literally 5 times more insurance just because I put a sticker on a car. I asked if every shop that sells bumper stickers needs the same policy type, and they said "they should." H-E-L-L NO.

    I was going to be put under the same code as a quick-lube or mechanics shop. I found someone else and don't remember what I said, but I might have left out the vehicle graphic part. And if you want numbers, I was paying about $2K a year, and that included our vehicle. When I went to update our policy when we incorporated, the same agency quoted us over 10K a year because they now considered us a vehicle repair shop. Now we have 2 different insurance companies (one for the truck, one for general liability) and I think its about $2200 a year with reasonably high limits.

    We do boat lettering, but never at our location.
     
  6. Jb1983

    Jb1983 Member

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    Vancouver island
    It covers doing installs off site as well. Just seems so ridiculous the name “shop repairer” it’s like I’m putting stickers or vinyl wrap on a boat! I’m not doin not ships! Haha

    I do 3-4 boats per year, usually wraps. So it’s not something I want to pay an excessive amount of money on insurance for. Otherwise I’ll jist have to sell the customers the “wrap vinyl print” and they can install “themselves”
     
  7. Gino

    Gino Premium Subscriber

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    Well, doing something.....1 time a year, 3 or 4 times a year or every stinking day, you only need ONE mishap to set the whole ball rolling.

    We are covered completely as long as all... and any vehicles, boats airplanes or whatever.... are in our shop. We cannot leave vehicles outside, unless we are here, or it voids our policy and we'll be personally responsible for anything that happens to it. On-site insurance we have it for just about anything, but not the customer's vehicle if it catches fire or rolls away, while we're working on it. Now, it's his insurance.
     
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