Страхование владельцев бизнеса

General liability insurance for an appliance repair specialist is designed to protect the business from financial losses related to third-party claims of bodily injury, property damage, and personal/advertising injury. Here's a breakdown of what it covers and examples of claims that are typically covered or not covered:

Property Damage (to Others):

If you accidentally damage a customer's property while repairing an appliance.

Bodily Injury (to Others):

If someone is injured due to your work (e.g., a customer trips over your tools).

Legal Defense Costs:

Even if you're not at fault, the insurance can cover legal defense and settlements.

Personal and Advertising Injury:

Protection from claims like slander, libel, or copyright infringement in marketing materials.

Examples of Covered Claims

You accidentally cause water damage:
While repairing a dishwasher, a loose connection leads to flooding in the customer’s kitchen. The policy covers the repair cost to the property.

Customer trips over your toolbox:
While you’re working, a client trips over your tools and breaks an arm. Your policy covers medical bills and legal costs if they sue.

Burned counter from hot tools:
A hot tool you left on the counter scorches it. The cost of replacing or repairing the countertop is covered.

You’re sued for using a competitor’s slogan in advertising:
If a competitor claims you copied their ad or marketing language, your policy may help cover legal expenses.

Damage to Your Own Tools or Equipment:

You’ll need equipment insurance or a property policy for that.

Faulty Workmanship (Professional Errors):

If your repair is done incorrectly and the appliance fails later, that’s usually not covered unless you have errors & omissions (E&O) insurance.

Injuries to Your Employees:

Covered under workers’ compensation, not general liability.

Vehicle Accidents:

Covered under commercial auto insurance, not general liability.

Example Claims Not Covered

You fix a refrigerator poorly, and it breaks again.
The customer demands a refund or repair. This is likely excluded unless you have an E&O policy.

Your van hits a customer's car.
This incident would fall under commercial auto, not general liability.

An employee cuts themselves on the job.
General liability won’t help—this would need a workers’ comp policy.

General Liability Insurance
(Core Coverage)

For a small appliance repair business, general liability insurance is essential, but it's not enough on its own. Here are additional types of insurance that are commonly recommended to properly protect your business, tools, employees, and income:

What is a Surety Bond?

A surety bond is a financial guarantee that ensures specific obligations will be fulfilled according to agreed-upon terms. These bonds protect consumers and government entities from fraud, malpractice, or non-compliance. They’re often required for businesses to obtain licenses or permits, ensuring accountability and trustworthiness.
Who needs a Surety Bond?

Many industries and individuals across the U.S. require surety bonds, including: Contractors: To meet licensing requirements and guarantee project completion. Auto Dealers: To ensure compliance with state regulations. Notaries: To protect the public from notarial misconduct. Freight Brokers: To secure payment obligations to shippers and carriers. Business Owners: For various licenses, such as alcohol permits or employment agencies. Whether you’re starting a new business or maintaining compliance, our team can help you get bonded quickly.
How much does a Surety Bond cost?

The cost of a surety bond typically ranges from 1% to 10% of the total bond amount. For example, if you need a $10,000 bond, your premium could be as low as $100. Several factors determine the exact cost, including: Bond Amount: Higher bond amounts generally have higher premiums. Bond Type: Some bonds have a fixed rate, while others may require detailed underwriting. Personal Credit Score: A higher credit score can help secure a lower premium. Professional Experience: Established businesses or professionals may qualify for better rates. Business Financials: Strong financial stability can reduce risk and lower costs. Assets & Liquidity: Demonstrating sufficient assets can help reduce premiums.
How to get a Surety Bond

Our streamlined process makes getting bonded easy and stress-free. Here’s how it works: Identify Your Bond Requirements: Contact the obligee (the entity requiring the bond) to determine the specific bond type and amount you need. Submit Your Application: Complete our simple online application. Receive Your Quote: We’ll review your application and provide a competitive quote instantly. Pay Your Premium: Secure your bond by paying the premium online. Receive Your Bond: Once payment is made, you’ll receive your bond immediately. File Your Bond: Sign and submit the bond to the obligee as required.
What happens if I have a low credit score?

While your credit score can impact your premium, we work with multiple providers to secure the best rate for your situation.
How long is a surety bond valid?

Most bonds are valid for one year, but this varies by bond type. Renewal is typically easy and straightforward.
Can I purchase multiple bonds at once?

Yes, if your business requires multiple bonds, we can help you bundle them for convenience and potential savings.

Recommended Insurance Checklist

General Liability

Third-party injury/property claims

Commercial Auto

Vehicles used for business

Tools & Equipment

Coverage for your gear/tools

Workers’ Compensation

Required if you have employees

Business Owner's Policy (BOP)

Bundled savings for liability + property

E&O / Professional Liability

Coverage for faulty work or mistakes

Cyber Insurance

If you store customer data or take payments online

Surety Bond

Required in some jurisdictions or by clients

Страхование владельцев бизнеса

General Liability Insurance (Core Coverage)

Recommended Insurance Checklist

General Liability Insurance
(Core Coverage)