How long has it been since you’ve checked the oil (Garage Insurance)?
Proper maintenance is the key to pretty much anything you own. Your car, your house, your business, even your marriage – though I’m no marriage counselor (but take the spouse on a date once in a while, y’all). Garage Insurance is no exception.
But the fact of the matter is that when that thing you own is insurance, people don’t want to look at it. They think it’s boring, or worse, they think they don’t need it so they ignore it and pay as little as possible.
Usually, that attitude doesn’t affect your life. But if something happens, you could find yourself owing a ton of money because you found your insurance policy too dull to bother with.
Just like a person who hates working on their own car, you still need to change the oil and get a tune up every once in a while.
But how do you know? When is a good time to review your policy? What should you look for when you do?
Great questions, even if I asked them for you. So let’s check it out and see when you NEED a garage insurance tune-up.
1. Your Garage Insurance has cobwebs.
But my policy is a classic.
When you open the hood of your garage insurance policy, does dust and cobwebs fly out?
When is the last time you reviewed it? Last year? Three years ago? Are you wondering what the heck an insurance review even is?
Just like cars, your policy can age over time, leaving your coverage outdated for the business you currently run. The coverage you had when you first started may not be enough if you have grown and expanded.
Imagine if you had a garage that serviced classic cars try and work on a Tesla. The result wouldn’t be pretty – and would cost you more money than you can imagine.
Coverage needs to be updated to grow with the business it protects. And it’s more than just adding a new building if you buy a new property.
Times change, and so do coverages. Make sure you get a review if you haven’t looked at your policy in the last three years at a minimum.
2. You’re an insurance tinkerer.
I built my policy myself.
Are you a do-it-yourself kind of person? If you’re a mechanic, you probably are. Even if you sell cars for a living, you’re probably a businessman that thinks that you can handle any business problem yourself.
And you may usually be right. But when it comes to insurance, you’re playing with fire if you put your own policy together.
If you found something online that let you get a policy, or even worse, get some coverage here and some coverage there, all without an agent, you are gambling with the future of your business.
It would be like someone who doesn’t know cars starting to do all their own maintenance work, or even trying to build their own engine from parts they bought online.
If someone walked into your business asking for help and said, “Well, I watched something on YouTube so I know how to fix it,” you would be terrified.
Make sure you get an agent to review your coverages and have them all in one place.
Just like having a professional mechanic servicing a modern car, truck or motorcycle is a must, having a professional insurance agent help you build and maintain your policy is key to keeping you up and running in case of an accident.
3. You have coverage with several companies.
My coverages are all over the place.
If you have your buildings covered with one company, and your business vehicles with another, and your Garage Liability with someone else, chances are you’re in trouble and you don’t even know it.
You wouldn’t advise your customer to have one person work on their engine and another work on their shocks and another work on their tires and another work on their transmission – even though a ton of customers do just that.
Different auto businesses and body shops specialize in certain types of parts or repairs, but there is nothing like having a service center or mechanic that knows your car inside and out.
If your coverages are scattered, each agent or company may not know or understand what is covered by someone else. This is a recipe for coverage shortage, leaving you exposed to risk.
One company may assume that you are covered by someone else for a key item, and if something happens, you have to pay out of pocket when it isn’t covered.
Make sure you get at least one quote for EVERYTHING with your favorite agent *coughs Alliance* so they can cover your business as a whole, with nothing left out.
4. You know you are short on coverage.
Have you ever heard someone say, “I can probably get another 5,000 miles out of it. Mechanics just want your money.”
Or, “The tread isn’t that bad. I’m not paying another $300 for tires so I’ll just drive on them for another year.”
Did that make you cringe? Now you know how we feel when someone says:
“I’ve got $100,000 in General Liability coverage. No one is going to sue me for something.”
Just like the person who never gets an oil change, you probably know, deep down, if you are under-covered.
People talk themselves into not spending money in a variety of ways, but when it comes to your car or your insurance, the costs can be tremendous.
If you have barely enough coverage to handle even a basic accident, you need to talk to an agent immediately to get a review and see how inexpensive it is to be properly covered.
And oil change or new tires is far less expensive than ruining an engine or getting into a car wreck.
A new policy with the right coverage is far less expensive than a lawsuit for someone getting hurt on your property.
5. You don’t like your Garage Insurance agent.
Sorry Dan, I have to go. I’m late for Pilates.
Not everyone gets along. It’s just a fact of life. Different personalities are everywhere, and some just aren’t compatible. (Again, not marriage advice – but buy her flowers.)
You may not like your garage insurance agent. There, I said it. He or she may be super nice, super knowledgeable, and you still hate their guts. That’s just the way it is.
If that’s the case, then start calling around and getting quotes. Today.
Imagine if someone hated their mechanic. If their car started acting up and they were worried, they may not take it to the shop just to avoid the person who can help them.
As I’ve already said, people don’t want to talk about insurance. Lot’s of people hate buying a car or going to the body shop. They find it stressful.
If you can’t stand your agent, then contacting them with something you want to avoid is a problem. You will probably avoid insurance entirely.
Then, if something happens, you’re unprepared.
So find someone that fits YOU. Hopefully (shameless plug) someone like us at Alliance Insurance.
Well, you probably found one of those five topics that fit you.
So it’s time for you to get another pair of eyes on your business to find where you need coverage, and where your weak spots are.
Why not go with someone who specializes in Garage Insurance, someone that has two Garage Insurance Specialists who can roll up their sleeves and get to work for you – just like they have for so many businesses just like yours.
So click the link below and lets set up a time for you to talk to someone who gets you.
The time to be proactive is now.