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Business insurance for classic restoration shop.

#21
that is exactly what i did. closed the shop and moved to the farm. no assumed name , no more co name . finishing my last one now. i can insure a builder and increase the value as i go along. you'll make more money selling with less stress .
 
#22
In regards to that guy who makes customers show proof of insurance, I think that it won't save him if something happens, because the first thing the customer's ins co. is going to realize is that the vehicle was in the care of a business who should have their own insurance. They will sue the garage owner to recover their losses for sure.
 
#23
There are advantages and disadvantages to growing my business larger than the garage behind my house. Insurance is certainly a large expense. My insurance company requires compliance with NFPA code 33. The township where I'm located doesn't have an any laws requiring compliance. However when I bought my building, I visited the local fire marshal to see about any recomondations. He quoted NFPA 33 and reminded me that OSHA defaults to NFPA 33 for worker safety. So I have a Garmat booth that's compliant with a dry chemical fire suppression system. Do I like all this? Not really, however it is what it is.
BTW, we save on insurance premiums by having a compliant booth, by limiting the amount of old paint stored in our building, not having a lift and not having acetylene torches. ~BOB
 

Chris_Hamilton

Trying to be the best me, I can be
#24
Don't know what I would do without an acetylene torch Bob. So many uses. I've really grown to love welding both steel and aluminum with one. If you are making panels the old way really is the best way. Sucks that Insurance Co.s charge more to have one in your Shop.
 
#25
Don't know what I would do without an acetylene torch Bob. So many uses. I've really grown to love welding both steel and aluminum with one. If you are making panels the old way really is the best way. Sucks that Insurance Co.s charge more to have one in your Shop.
Yep, I agree. It's just when a business gets to be worth more, the insurance company feels they have more to lose. So I get a visit from my friendly insurance company inspector at least once a year with no warning. Some days I wish I could go back to where I started. ~BOB
 
#26
lol, no more to lose......more to gain! your makin more money that means you can afford to make larger payments. my current liability insurance does an audit every year and they need to know what i made so they can charge accordingly. workmans comp ins works the same way.
 

EddieF

Top Banana
#27
$3,800 i was told face to face by agent for 1yr of cheapest insurance for my 17 year old brother to drive a car (legally) in Ew York area. 15yrs ago.

F that place even on a summer day lol.
 
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#28
I guess I am lucky to live in the sticks. My ins. company leaves me alone on garagekeepers, I've never even heard of most of the stuff in this thread. Workers' Comp and Unemployment ins. does charge by payroll though, that's a given everywhere.