Tim was feeling good about how his computer repair business was growing. His shop in Lubbock had picked up a lot of steady work over the last year. But what really excited him were the new service agreements he was signing with bigger clients. A local school district. A local health system. Even a small manufacturing company.
With these new deals, he started seeing more expensive equipment coming through his door. Full server towers. Workstations loaded with software. Business laptops with sensitive data. One day, as he locked up for the night, a thought hit him hard. What happens if something happens to one of these while it’s in my shop?
He didn’t have an answer. To be honest, most repair shop owners don't either. That’s when you know it is time to take a look at how your commercial property insurance actually works.
Standard Business Insurance May Not Cover Customer Property At Your Shop
Tim assumed he was covered if something was to happen to the property of his customer base left at his shop. After all, he had a general liability policy and some business property insurance coverage. He thought those policies would protect him if anything went wrong and created property damage. But as he read through his insurance policy, he realized something important.
Those policies only covered things he owned. His tools, his desks, his office computer. They didn’t protect the items that belonged to his clients if property damage occurred at his shop.
If a fire broke out or a break-in happened, and one of those client machines was damaged, destroyed or stolen, his insurance company wouldn’t help cover the repair or replacement. That surprised him. It also made him think about what he would do if something actually went wrong.
You Are On The Hook Even If It’s Not Your Fault
Tim knew he would never do anything careless with a customer’s machine or device. But when he thought about things out of his control, it made him a bit nervous. What if the power surged and fried a circuit board? What if someone broke in through the back door and grabbed everything in the shop? What if the donut shop in the strip center caught on fire?
Even if it wasn’t his fault, his client would still expect him to fix the damage or replace the gear. Now that he was working with larger companies, the contracts he was entering into with them stipulated the repair company is responsible for those items.
As he pondered the value of the equipment sitting in his shop, he can easily envision being tens of thousands of dollars at a time. He didn’t want a single event with accidental damage to take down the business he had worked so hard to build. That’s when he began looking for the types of insurance coverage that is made for this exact problem.
Bailee’s Coverage Is The Essential Coverage For Customer Gear
When Tim heard the phrase “Bailee’s Coverage,” it did not make a lot of sense to him. But the idea is pretty simple. This liability coverage provides protection of property that belongs to someone else but is in your care, custody, or control. This met his repair business insurance needs like a glove.
If one of his client’s devices was stolen, dropped, or damaged in a storm, this kind of insurance would help pay for it. Without it, the cost would come out of his own pocket. This will be vitally important to his customer relationship management process. Especially as he brings on more of these larger potential customers.
When Tim called Insurance For Texans, our experienced tech insurance specialist explained that Bailee’s Coverage could be added to liability insurance coverages that he needed. This would fill the gap his general liability insurance policy didn’t cover today. Once it was in place, Tim felt a lot better about saying yes to new contracts and bringing bigger jobs into the shop.
Working With Someone Who Understands Tech Insurance Matters
When Tim called us to speak to an insurance agent, he wasn't just sold a one size fits all plan. Our technology insurance expert started by asking questions and listening about his repair company operations.
This allowed them to understand what business assets he needed to protect. They then walked through the service agreements he had signed. They talked about the kind of business equipment he handled and the value of it. They asked the right questions and helped him identify the additional coverages that his business needed.
This is what True Texas Technology Insurance is all about. It is the program that Insurance For Texans uses to help computer repair shops and other tech businesses in Texas find the right mix of protection. It is important for true Texans like Tim to have the promise of certainty.
Now, when Tim locks up his shop at the end of the day, he knows he’s covered. Whether it’s his own tools or his customer’s servers, he has the coverage he needs to keep his business moving forward.
Click the button below to get started with True Texas Technology Insurance today.