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Why do auto parts stores need insurance?
If an employee or a customer trips over a rack of bulky auto parts, you could end up responsible for medical costs or legal bills. Business insurance can help pay for costly accidents that could otherwise shutter your business. It also covers property damage, data breaches, and defamation claims.
Get insured fast
With Insureon, it's easy to find the right insurance coverage quickly for your auto parts shop.
Fill out our online application with details about your business to get quotes from top-rated providers. Our licensed agents will help you select the best policies for your business insurance needs and answer any questions.
What types of insurance do auto supplies stores need?
These policies cover common risks at shops that sell auto parts and supplies.
Business owner's policy
Auto parts stores can often bundle general liability coverage and commercial property insurance together in a business owner's policy, or BOP, to save money on insurance.
BEST FOR
- Customer injuries at your shop
- Stolen or damaged auto parts
- Business interruption coverage
General liability insurance
A general liability policy covers expenses from everyday customer accidents, such as an injury from tripping over a display rack. It also covers slander, libel, and copyright infringement claims.
BEST FOR
- Customer slip-and-fall accidents
- Damage to a customer's property
- Product liability insurance
Workers’ compensation insurance
Most states require workers' comp for auto parts stores that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
BEST FOR
- Employee medical expenses
- Disability benefits
- Workplace injury lawsuits
Cyber insurance
Cyber liability insurance pays for financial losses caused by a data breach or cyberattack at an auto parts store. It's recommended for any business that handles credit card numbers or other sensitive information.
BEST FOR
- Data breach notification costs
- Fraud monitoring services
- Cyberextortion demands
Commercial umbrella insurance
Commercial umbrella insurance boosts coverage on your auto supply store's general liability, employer’s liability, or commercial auto insurance once the policy limit is reached.
BEST FOR
- Bodily injury lawsuits
- Property damage lawsuits
- Auto accident lawsuits
Commercial auto insurance
This policy helps pay for costs from an accident involving an auto parts store's van or other business vehicle. Each state has its own requirements for business auto insurance.
BEST FOR
- Damage caused by your vehicle
- Auto accident injuries
- Vehicle theft and vandalism
Looking for different coverage? See more policies.
How much does business insurance cost for retail stores?
A small auto parts shop won't have to pay a lot for business insurance.
Factors that affect your premiums include:
- Auto services and products offered, such as batteries and oil changes
- Business property and equipment
- Business income
- Types of coverage purchased
- Policy limits and deductibles
How do I get business insurance for auto parts stores?
It's easy to get business insurance for your auto parts store if you have your shop's information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees.
You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application.
- Compare insurance quotes and choose policies.
- Pay for your policy and download a certificate.
Insureon's licensed agents work with top-rated U.S. insurance companies to find the right coverage for stores that sell automotive parts and accessories, whether you work independently or hire employees.
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FAQs about auto supply store insurance
Review answers to frequently asked questions about auto supply store insurance.
Do automotive parts stores need product liability insurance?
Every business that sells, manufactures, or distributes products should carry product liability insurance. That's because any business in the supply chain could be held responsible for damage caused by a product.
For example, an auto repair shop or auto parts store could be sued if a defective product damages a customer's car or causes an injury. You could end up pay for costly vehicle repairs, medical bills, or legal fees.
Product liability insurance covers all of these costs, giving you the peace of mind to focus on your business. It's often included in your general liability policy or BOP.
Are auto supply stores insured against theft?
Commercial property insurance, included in a business owner's policy, covers theft of auto supplies and business equipment. It also covers damages from storms, fires, and similar incidents.
You might also want protection against dishonest employees, provided by commercial crime insurance. You can usually add this to your property policy as an endorsement.
It's possible to prevent theft and save money on your property insurance by installing security cameras and other burglar deterrents. Reducing your risks helps you avoid claims and keep your premium low. Some insurance carriers even offer lower rates when you take specific steps to improve security.
What other types of insurance policies should an auto parts store consider?
In addition to the insurance products mentioned above, auto parts stores can benefit from the following types of coverage:
Business interruption insurance: When a fire, natural disaster, or other covered property claim forces your business to close temporarily, this policy pays for day-to-day operating expenses and lost profits. It's also called business income insurance.
Equipment breakdown coverage: This policy pays for repair or replacement of equipment that suffers a sudden mechanical failure. However, it doesn't cover normal wear and tear.
Electronic data processing insurance: Businesses that rely on stored customer data can benefit from this coverage, which pays for expenses resulting from an unexpected loss of data.