Running a tire shop involves more than selling tires. Your business may install and repair tires, work with customers’ vehicles, maintain expensive equipment, and operate from a commercial location. These activities can expose your business to a variety of risks.
The right insurance can help protect your eligible Florida tire shop from certain covered losses.
What Insurance Does a Tire Shop Need?
Insurance needs vary depending on your services, location, employees, equipment, vehicles, and overall business operations.
Depending on your business and eligibility, coverage may include General Liability, Commercial Property, Business Personal Property, Business Income, Commercial Auto, Garagekeepers Coverage, Workers’ Compensation, and other available coverage options.
General Liability Insurance
General Liability can provide protection against certain third-party claims involving bodily injury, property damage, and other covered liabilities arising from your business operations.
For a tire shop, this can be an important consideration because customers and other third parties may visit your property while your employees are performing tire-related services.
Commercial Property Insurance
A tire shop may have significant business property, including tire inventory, tire-changing equipment, lifts, compressors, tools, computers, furniture, and other equipment.
Commercial Property Insurance can provide protection for eligible business property against certain covered losses.
The amount and type of coverage needed can depend on the property your business owns and how your shop operates.
Business Personal Property
Business Personal Property coverage can help protect eligible property used in your business.
For tire shops, this may include tools, equipment, office equipment, furniture, and other business contents. Your inventory and other property should be evaluated when determining appropriate coverage.
Business Income Coverage
A covered loss could temporarily prevent your tire shop from operating normally.
Business Income Coverage may help replace certain lost income and continuing expenses following a covered loss, subject to the terms and conditions of the policy.
This can be an important consideration for businesses that depend on their physical location and equipment to generate revenue.
Commercial Auto Insurance
If your tire business owns or uses vehicles for business purposes, Commercial Auto Coverage may be appropriate.
Business vehicles may be used to transport tires, equipment, supplies, or employees. Coverage depends on the vehicles, their use, and your eligibility.
Garagekeepers Coverage
Some tire shops may have customers’ vehicles in their care, custody, or control while tires are being installed or services are being performed.
Garagekeepers Coverage may provide protection for certain physical damage to customers’ vehicles while they are in your care, custody, or control, when available and applicable to your operations.
Workers’ Compensation
If you have employees, Workers’ Compensation may be an important part of your business insurance program. Requirements can vary based on your business and circumstances.
Tire shop employees may work with heavy tires, lifts, tire-changing equipment, and other tools, making workplace safety an important consideration.
Additional Coverage Options for Tire Shops
Depending on your business and eligibility, additional coverage options may include:
- Commercial Umbrella Liability for additional liability protection above certain underlying policy limits.
- Cyber Coverage for certain risks involving electronic data and computer systems.
- Employment Practices Liability Insurance (EPLI) for certain employment-related claims.
- Other coverage enhancements based on your business operations.
Does Every Tire Shop Need the Same Insurance?
No. A small independent tire dealer may have different insurance needs from a larger tire and automotive service center.
Your insurance program should take into account factors such as:
- The services you provide
- Your tire inventory
- Shop equipment and tools
- Your commercial property
- Customer vehicles in your care
- Business-owned vehicles
- Employees
- Your business income and operating expenses
Choosing Insurance for Your Tire Business
When reviewing insurance options, consider the risks associated with your specific operations rather than relying on a one-size-fits-all approach.
A licensed insurance professional can help you explore coverage options based on your business activities, property, vehicles, and eligibility.
Protect Your Florida Tire Shop
Nieves Insurance Group helps eligible Florida tire shops, tire dealers, and tire service businesses explore insurance options designed around their operations.
Whether you operate an independent tire shop or a larger tire service business, the right insurance can help you prepare for covered risks and protect your business.
