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You’re the first person that folks call when their appliances start to go haywire - and you like it that way. Your business is a trusted name in your community; everyone knows that you have a way of turning malfunctioning fridges and ovens into beautiful works of (functional!) art.
While you’re out there protecting your customers’ appliances, why not let us help protect your business with customized insurance?
At Simply Business, we can help you find and buy appliance repair business insurance that’s just right for your needs. Compare free quotes 100% online from the nation’s top insurers, then choose the policy that works for you.
It’s that much easier to get affordable, reliable coverage.Get your quote
As an appliance installation and repair specialist, it’s likely that you’re exposed to a lot of risk when working on customer projects. After all, not every fix works - and if your work accidentally causes more damage to a customer’s home, you’ll want insurance coverage to help cover the financial costs to repair that damage.
So what types of insurance policies should appliance repair business owners look into? Take a look at our recommendations:
General liability insurance — also known as commercial general liability (CGL) insurance — can cover the costs associated with third-party property damage and injuries that may have happened while you were working on a customer’s project. It can also cover you in case a customer or vendor hurts themselves while visiting you at your office, and decides to sue you for their medical expenses.
For example, if you accidentally damaged a customer’s kitchen counters while repairing their fridge, your general liability insurance may cover the costs of fixing those counters, plus any legal fees if the customer decides to sue you (up to your policy limit).
As an appliance repair and installation expert, it’s safe to say you’re spending most of your time on customer sites. That’s why it’s a good idea to carry general liability insurance, as it can provide you with crucial protection.
Let’s take a look at another example. Say an employee repaired a customer’s dishwasher in their kitchen. But not a day goes by before the dishwasher breaks again, causing a bunch of water to leak out and damage the surrounding kitchen cabinets and floor. Your client is livid and demands you pay to fix the damage.
In this example, your CGL policy would cover some of the costs of fixing that damaged kitchen and dishwasher.
General liability insurance usually covers:
General liability insurance usually does not cover:
If you have any employees (even if they’re only part-time), your state may require you to take out a workers compensation insurance policy. This type of coverage protects you and your business in case an employee gets sick or injured while working for you. If that happens, workers comp can cover some or all of that employee’s lost wages, medical bills, and legal costs.
Having this policy may also prevent an employee from suing your business for those costs, so it’s a win-win for everyone.
Most states have strict requirements about carrying workers compensation insurance coverage if you have employees. That’s why it could be a good idea to add this policy to your overall appliance repair business insurance - it can keep you on the right side of the law!
Workers compensation insurance usually covers:
Let’s face it: You worked hard to get your appliance repair and installation business up and running. From getting your first customers to hiring your team, you’ve poured your sweat into making sure your business sticks around for the long haul.
That’s exactly why you should get appliance repair business insurance - because without it, your business could fall victim to a claim that could be financially catastrophic to your business.
While we don’t want to be alarmist, it is important for small business owners to know that accidents, incidents, and lawsuits are a surprisingly common part of the entrepreneurial experience. For example, did you know that within the next 10 years, 40% of small business owners are likely to experience a property or general liability claim?
Or that the most common claims against small business owners - like appliance repair specialists! - happen to be among the most expensive? Take a look:
Those are just average claims - meaning that it could be a lot more expensive, depending on the amount of damage being claimed by a customer.
Let’s shift gears and take a look at another reason why you should consider insurance for your appliance repair business: it could be required to get licensed.
Most states consider appliance repair and installation specialists to be contractors, meaning you may be required to get a contractor’s license to do work at a customer’s property. Of these states, many require both proof of general liability insurance and workers compensation insurance (if you have employees).
Check out our state-by-state guide for some information about what may be required in your state.
Whether you look at it from a financial standpoint or from a licensing standpoint, getting appliance repair business insurance makes a lot of sense. Plus, having insurance may even make customers feel more confident about working with you, since they know they may be covered if you damage anything.
Confused about how to find appliance repair business insurance? Want to know how much you might spend on your policy? We’ve got those answers - and more - in our handy business insurance FAQs.
When it comes to business insurance, we know you have a lot of choice out there. So why us?
Because we get you.
Simply Business is an online business insurance brokerage that lets you compare and buy policies from top insurers. We have over a decade of experience in making business insurance clear and simple for our customers. Plus, we’re quickly growing as one of the most popular online providers of insurance, meaning thousands of customers trust us with their small businesses.
We pride ourselves on making business insurance:
After all, you’ve worked hard to grow your appliance repair and installation business. That’s why we’re proud to offer the best coverage to protect it.Get your quote
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated reinsurance carrier by A.M. Best. Harborway Insurance is a trade name of Simply Business, Inc., which is a licensed insurance producer in all 50 states and the District of Columbia.