Inflation & Supply Chain Issues for Auto Mechanics
Recently, with the increase in inflation, issues with the global automobile part supply chain, and the current state of the used car market, Acuity reached out to local automotive repair facilities asking if they could share their firsthand knowledge regarding the climate of today’s auto repair market.
Necessary Coverages for Your Auto Repair Business
Whether you like to think about it or not, there is a lot that can go wrong when running a small business, especially one as involved as a car care shop. Working on your customers’ vehicles gives you enough to worry about—you don’t need the added stress of wondering if your insurance would cover your loss in the event of a claim.
The National Insurance Crime Bureau, NICB, counted just 3,969 reports of stolen catalytic converters in 2019, more than 17,000 in 2020, and more than 52,000 last year. One could speculate that there is a connection with the pandemic and recent inflation. The NICB offers several prevention tips, including parking in a secure area, installing motion sensor lights in the front of your home, and installing an anti-theft device for the catalytic converter on the vehicle.
Auto repair technicians and shop employees work with dangerous tools, chemicals, and machinery, which can put them at greater risk for accidents and injuries, potentially leading to negative effects for the business and employees. Listed below are some practical steps to follow to mitigate accidents.
Think back to when you purchased your first tools as a mechanic—they were really expensive! Knowing how much money you put into those tools, you want to make sure they are adequately covered should something happen to them.
