How Much Does Insurance Cost for an Appliance Repair Business?
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 16
- 2 min read
Starting or running an appliance repair business comes with unique risks—accidental damage to customer appliances, injuries on-site, and transporting heavy equipment. That’s why insurance is essential. But how much does appliance repair business insurance actually cost? Here’s a full breakdown.
Average Costs by Insurance Type
General Liability Insurance: This protects your business from third-party injuries and property damage. For a small appliance repair business, expect to pay around $400–$1,000 per year. For businesses handling heavy or high-end appliances, premiums may be higher.
Commercial Property Insurance: Covers tools, repair equipment, and office space from theft, fire, or natural disasters. Typical costs range from $500–$1,500 annually, depending on the value of your property and location.
Workers’ Compensation Insurance: Required if you have employees, this insurance covers medical expenses and lost wages for job-related injuries. Premiums typically run $2–$3 per $100 of payroll, but can vary depending on the risk level of repair tasks.
Commercial Auto Insurance: If you use vans or trucks for service calls, you’ll need commercial auto coverage. Costs generally range from $1,200–$2,500 per vehicle annually, depending on coverage and driving records.
Business Owner’s Policy (BOP): A BOP combines general liability and property insurance, often at a 10–25% discount. Small appliance repair businesses usually pay $1,000–$2,500 per year for a BOP.
Factors That Affect Insurance Costs
Business Size: More employees and locations increase premiums.
Claims History: Businesses with previous claims may pay higher rates.
Coverage Limits: Higher coverage limits mean higher premiums.
Equipment Value: Expensive tools or service vehicles raise costs.
Industry Risk Level: High-risk appliance services (e.g., refrigeration, gas appliances) may cost more to insure.
💡 Tip: Keeping a clean claims history, bundling policies, and investing in safety training can lower premiums.
How to Get an Accurate Quote
Every appliance repair business is unique. The best way to know your insurance cost is by requesting a personalized quote. Wexford Insurance specializes in coverage for appliance repair businesses, helping you find affordable, comprehensive options: Get a Quote from Wexford Insurance.
