November '15

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46 The Shop November 2015 ReSTyling/AfTeRmARkeT AcceSSoRieS a shop that only has two or three at a time. Business Automobile Coverage: for autos that are titled to the business. It is a bad idea to try to put a personal auto (i.e. the owner's personal car) on a business auto policy. If it is going to be on the business auto policy, it should be titled to the busi- ness. Otherwise, it should be on a personal auto policy. $1 million liability limit per claim is suggested. Commercial Umbrella Coverage: in today's world, $1 million doesn't go as far as it used to, considering the cost of medical care. An umbrella policy is an inexpensive way to add protection for the business. Coverage is written in increments of $1 million. Workers' Compensation Coverage: how many employees a business must have in order for this coverage to be required varies by state, but all shops regardless of their size should consider it. Workers' Compensation coverage is triggered if an employee is hurt while working—regardless of where they are when they get hurt. It pays medical bills as well as lost wages for the injured employee. It also will provide a lump sum payment for any permanent injury the employee suffers, such as the loss of an eye, loss of a finger, or a permanent impairment to their back, shoulder, etc. Some less common coverages that, due to today's business climate, shops should consider include: Employment Practices Liability Coverage: protects against claims of harassment, dis- crimination, unfair hiring/firing practices, etc. Cyber Liability Coverage: all shops store some amount of private data including credit cards, employee personal informa- tion, etc. CHOOSE WISELY Finally, when choosing an agent, shops should consider the following: Ask around – interview a few agents and find someone who is knowledgeable and trustworthy. I suggest an Independent Agency (compared to a Direct Writer) because they represent many insurance companies rather than being tied to a single insurance company. More options and choices is a good thing. Don't shop insurance around every year – it is a waste of time and money. It is reason- able to ask your agent to bring you a few alternative options every three years, but not every year. Think of your insurance agent as you do your CPA, attorney or financial advisor – they are members of your business team. Insurance is not a commodity. Choose an agency that has resources to offer your business outside of merely providing insurance policies. Risk Management Ser- vices such as OSHA compliance, safety A business like ours needs to keep per- sonal protective equipment accessible at all times. Protect Yourself DO IT WITH STYLE. DO IT WITH ARIES. A A P EX B O O TH # 1 2 7 9 S E M A B O O T H # 3 4 0 9 7 VISIT US AT AAPEX AND SEMA A A P EX B O O TH # 1 2 7 9 S E M A B O O T H # 3 4 0 9 7 VISIT US AT AAPEX AND SEMA • Rugged, angular design geared for commercial trucks • High-strength, all-steel construction to get the job done • Sleek, lightweight design accents modern vehicles • Tough, full-length tread provides a reliable, anti-skid step RidgeStep ™ AeroTread ™ • Eight-sided design for a fresh look on modern trucks • All-aluminum construction: strong, lightweight and rust-free • Series includes side bars, bull bars and headache racks AdvantEDGE ™ Commercial Running Boards Running Boards Product Series Check out our complete product line at and connect with us! 2015.09.28 The Shop.indd 1 9/28/2015 16:57:49

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