TwistedMinis
+1y
They required General Liability insurance for my to get in. With the standard $1M per occurrence, $2M aggregate. It covers any personal injury up to $1M, and will cover $10K in medical bills. It insures my products and services for $2M. Its basically a slip and fall coverage. If someone gets hurt in my building, or gets hurt by my products I am covered up to those amounts theoretically. I am not eager to test it out though, so I am going to keep a chain on the roll up door with and "Employees Only" sign, since people are blind and will not acknowledge the sign if there is not a physical barrier.
Its expensive yes, but cheap in relation to what it covers. I've also got my tools insured for $50K against total loss due to fire or theft. The thing that scares me about that, is they say "total loss." So I wonder if someone came in and stole everything but a lift and some grinders if they would cover the tools? Lol. Again, I hope not to find out. And good locks on the door and the roll up, paired with the Brinks alarm and a low crime zone will hopefully keep me from actually using the policy.
As far as cost, I was quoted between $1000 and $3600 depending on the place. And I ended up going through The Hartford, because my car insurance is there too and I got a break from them due to that.
But the advice I got from a few people was, do not use the term "automotive." I had a lot of people hang up, or become rude when I brought up that term. I wasn't sure why until I talked to a few other people, who said it had to do with all the hazardous waste and flammable materials they deal with doing repairs. Instead, use the term "manufacturing." I got a much better response with that. And when they asked what I make, I said "car parts." And I never got hung up on, or had anyone say they can't help anymore. And after further research, that is technically what I do. And it even said so on my Lease under the terms of use, I just didn't think it would make such a big difference when it came to insurance.
I hope that was helpful.