Tire Shop Insurance: Cost & Quotes From $36/mo

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A tire shop business involves selling used and new tires. You can also offer automotive repair services. Like any other venture, you need business insurance to safeguard your assets. Tire shop insurance covers property damages, employee injuries, third-party claims, and other risks. Having a good cover guarantees your customers and stakeholders that you are well prepared to handle unforeseen events. After all, a tire shop is a retail business that’s highly susceptible to customer lawsuits, fires, and, workplace accidents. 

General Liability Insurance for Tire Shops

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included


This tire shop business insurance is integral for your business. General liability insurance policy protects your business in case of claims of property damage or bodily injury filed by third parties. This policy will cover the following:

  • Defense costs

  • Court costs

  • Settlement costs

  • Judgment costs

What Are the Common Add-Ons to General Liability Insurance for Tire Shops?

  • Garagekeepers liability insurance–This add-on to your brand new and used tire shop insurance package is fundamental if you offer vehicle repair services. It will protect you from incurring costs if your customer’s vehicle is damaged

  • Product liability insurance–This add-on covers your business if the products you sell, such as tires, cause injury or harm to your customers

Coverage Limits for General Liability Insurance for Tire Shops

Insurance providers offer a limit of $1 million for each occurrence and a $2 million aggregate limit annually.


Product Liability Insurance for Tire Shops

You sell used and new tires to customers. You also install tires on customers’ vehicles. In some unfortunate circumstances, the tires you sell can have defects and cause serious accidents. This tire shop business insurance protects your business from product-related lawsuits. This insurance will cover medical, attorney, settlement, and judgment costs.


Coverage Limits of Product Liability Insurance for Tire Shops

Carriers offer a limit of $1 million to $10 million per occurrence and aggregate in their product liability insurance for tire shops. 

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Commercial Property Insurance for Tire Shops

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $330,000 $25,000/$500,000 $60,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $60,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Commercial property insurance insures your physical assets from unpredictable risks. It will cover your inventory, equipment, buildings, and signage. With this type of insurance, you can recover the rebuilding, repair, and replacement costs. This ensures your business continues to run even after catastrophic events, such as:

  • Fire

  • Storms

  • Theft

  • Vandalism

  •  Earthquakes

  •  Hails

  • Tornados

Common Add-Ons to Commercial Property Insurance for Tire Shops

  • Spoilage insurance–If you sell goods that can expire in your tire shop, you need this add-on. The policy will help to reimburse the cost of replacing expired goods

  • Flood insurance–You can add this if your primary insurance does not cover flood events

Coverage Limits of Commercial Property Insurance for Tire Shops

An insurance carrier must first determine the needs and risks of your tire shop to come up with the ideal coverage limit. A typical policy will offer $25,000-$500,000 to cover building reconstruction or repair expenses. 


Tires to be installed to the car


Business Owner’s Policy for Tire Shops

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $330,000 $25,000/$500,000 $75,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


You should take the BOP policy if you want a convenient insurance package for your tire business. It is ideal for your tire shop as it offers comprehensive coverage at a very affordable rate. A BOP includes:

  • General liability insurance

  • Commercial property insurance

  • Business interruption insurance

What Are the Common Add-Ons to a BOP?

  • Cyber liability insurance–Protects your tire shop business in case of data breaches and other cyberattacks. It will cover the costs of restoring your data and lawsuit expenses

  • Employment practices liability–This add-on covers you from employment claims due to wrongful termination, harassment, negligent hiring, discrimination, and others. The insurance will cover attorney fees, court judgments, settlements, and other legal costs

Coverage Limits of BOP for Tire Shops

The coverage for your business will depend on your specific policy and the various needs of your business. However, the rough estimate your provider may be willing to grant is $500,000 to $2 million for each occurrence.


Tools and Equipment Insurance for Tire Shops

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


It will help if you protect your equipment and tools from catastrophic events like fire or theft. This policy will pay you replacement or repair costs that you incur after damage to your tools and equipment. Some of the events covered include:

  • Theft

  • Natural disasters

  • Vandalism

  • Breakdowns

  • Accidental damage

What Are the Common Add-Ons to Tools and Equipment Insurance?

  • Inland marine insurance–This add-on covers tools and equipment transported to an offsite working station

Coverage Limits of Tools and Equipment Insurance for Tire Shops 

Generally, most providers will offer coverage equivalent to the total value of your equipment and tools.


Commercial Auto Insurance for Tire Shops

You must have commercial auto insurance coverage if you own a commercial vehicle for service calls or deliveries. This policy safeguards your business from injuries or damages caused by your commercial vehicles. With this insurance, you can protect your tire business from claims arising from auto accidents.


What Are the Components of This Tire Shop Insurance?

  • Liability coverage–While operating your commercial vehicles, you may cause accidents that result in bodily injuries and property damage. This coverage will help settle the damages

  • Collision coverage–This will cover vehicle repair costs if your vehicle got damaged in a collision 

  • Comprehensive coverage–Comprehensive physical damage coverage will take care of repair costs if your commercial auto got damaged by fire, theft, vandalism, and other covered perils

  • Underinsured motorist coverage–In some circumstances, you can get involved in an accident with a motorist who doesn’t have sufficient insurance coverage to cover your damages. This coverage will chip in and cover damages

  • Uninsured motorist coverage–If you get involved in an accident with a motorist who is not insured, this coverage will pay the related costs

  • Medical payment coverage–Caters to the hospital bills of all passengers in the commercial auto involved in the accident

  • Hired and non-owned auto coverage–Hired/non-owned auto liability coverage will cover the cost of accidents caused by a hired/borrowed commercial vehicle 

Add-ons to Commercial Auto Insurance for Tire Shops

  • Towing and labor coverage–This add-on will cover the cost of towing your tire shop vehicle if it breaks down on the road

  • Roadside assistance coverage will cater to any roadside assistance services you require, such as jump starts when your vehicle breaks down on the road

Coverage Limits of Commercial Auto Insurance Tire Shops

The standard coverage limit for your commercial auto insurance can be $100,000 to $2 million, depending on the damages suffered. For collision coverage, you will typically be paid an amount equal to the value of repair costs.


Excess Liability Insurance for Tire Shops 

Excess liability insurance is a unique coverage for bigger risks or catastrophic events that may financially cripple your business. This policy will be beneficial when your standard policies’ limits are exhausted.

For instance, your tire shop can have a general liability coverage limit of $1 million. But a customer is injured by your products and demands compensation for damages worth $2 million. In such a scenario, your excess liability insurance will offer the extra coverage of $1 million.


Coverage limits of Excess Liability Insurance for Tire Shops

The coverage limits of your excess liability insurance are $1 million to $10 million. An insurance provider will assist you in determining the right coverage for your business.

Workers’ Compensation Insurance for Tire Shops

If you have employed workers on a permanent or part-time basis, you must insure them from work-related illnesses or injuries. Every business with workers must have this insurance. This policy covers your workers’:

  • Medical expenses

  • Lost income

  • Rehabilitation expenses

  • Death benefits

What Are the Coverage Limits of Workers’ Compensation Insurance?

If your employees are injured while working in your shop, the insurance will offer 100% coverage for the medical costs. It also provides a specific percentage of the employee’s lost wages. For the death benefits, the provider offers a lump sum amount.

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Tire Shop Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $40 $480 $0-$500
Excess liability insurance $42 $504 $500-$1,000
Commercial property insurance $73 $876 $1,000-$2,000
Business owner’s policy $113 $1,356 $1,500
Tools and equipment insurance $46 $552 $500-$1,000
Commercial auto insurance $57 $684 $500-$1,000
Workers compensation insurance $84 $1,008 $2,500-$5,000


The average tire shop insurance cost is $40 per month or $480 per year for a $1 million general liability insurance. Factors that affect the cost of premiums are claims history, business history, policy limits, deductibles, location, and revenues. Here’s a table showing the cost of a $1 million general liability insurance from the best companies:

Cost per Month Cost per Year Best for
NEXT $25 $300 Best overall; Fastest general liability insurance for tire shops
CoverWallet $28 $336 Comparing tire shop insurance quotes online
The Hartford $31 $372 Tire shop owners looking for specialized insurance cover
Tivly $35 $420 Comparing tire shop insurance quotes over the phone
Thimble $33 $396 Tire shop owners looking for on-demand coverage options
Hiscox $35 $420 Tire shop insurance that automatically renews every ear

Compare Cheap Tire Shop Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Tire Shop Insurance Companies

When choosing an insurance provider or broker, you must ensure they are licensed and have a good track record. We have listed the top 6 insurance carriers and brokers who will offer the best tire shop insurance policies and other insurance products.


NEXT Tire Shop Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for tire shops

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT prides itself as an insurance company that operates virtually. They primarily offer multiple insurance products to small businesses. This company sells its policies directly to clients and serves over 1,300 business types. You don’t need to consult anyone if you wish to purchase a policy from their website. Simply obtain a custom quote and purchase your policy.

Best for: Best overall; Fastest general liability insurance for tire shops 

Average cost: $25 per month

Our rating: 10/10


CoverWallet Tire Shop Insurance

Pros

  •  Financial advisors available

  • Offers bundled packages

  • Several coverage options are available

Cons

  • You may not be able to complete the insurance application online; you may be required to call in

CoverWallet is an insurance broker founded in 2015. It is an AON company situated in New York. They offer clients online tools which come in handy in policy management. You can obtain several coverage options for your business. Additionally, they have financial advisors who will offer you world-class advice when choosing and managing your policies.

Best for: Comparing tire shop insurance quotes online

Average cost: $28 per month

Our rating: 10/10


The Hartford Tire Shop Insurance

Pros

  • Offers several small business insurance policies

  • Rated at A+ by A.M. Best

  • Easy application process

  • Offers specialized policies

Cons

  • Limited coverage options

The Hartford is an insurance provider that offers insurance products directly to customers. It is ideal for clients who are looking for specialized insurance. This company has live customer support; you will quickly get the required assistance. You can easily obtain free insurance quotes within minutes. Additionally, the company has been rated by A.M. Best at A+.

Best for: Tire shop owners looking for specialized insurance cover

Average cost: $31 per month 

Our rating: 10/10


Tivly Tire Shop Insurance

Pros

  • Compare quotes over the phone

  • A partner of many reputable insurance companies

  • Will take you to the insurance company that’s an absolute fit

Cons

  • No online quotes

Tivly is not an insurance company but an agency where multiple carriers offer their products. You can get a provider offering the best insurance products through this marketplace. You can quickly obtain insurance quotes via your phone. Tivly has excellent customer service, and you can get the needed assistance. Call now to compare quotes over the phone. 

Best for: Comparing tire shop insurance quotes over the phone

Average cost: $35 per month

Our rating: 9/10


Thimble Tire Shop Insurance

Pros

  • On-demand policies available

  •  A+ rating from BBB

  • Have flexible options

  • Numerous add-ons to general liability insurance

Cons

  • You can’t reach customer service by calling

Thimble is an insurance agency that offers you insurance products for your business. They offer short-term policies for businesses looking for coverage even for one hour, day, or month. This company offers products to many kinds of businesses. The BBB rates this company A+, assuring you of its credibility. Additionally, they have partnered with Global Aerospace and Markel Insurance. These two companies underwrite Thimble’s policies.

Best for: Tire shop owners looking for on-demand coverage options

Average cost: $33 per month

Our rating: 9/10


Hiscox Tire Shop Insurance

Pros

  • Numerous upgrades to base policies

  • Worldwide coverage

  • 14-day money-back guarantee

  • Enjoy a discount if you buy two or more policies

Cons

  • Online quoting not available all the time due to periodic site maintenance

Hiscox is an insurance company that primarily offers policies to micro-businesses. They are known to offer specialized policies to professional service businesses. This company offers short-term policies in partnership with Thimble. You can get insights from their podcasts and informational website.

Best for: Tire shop insurance that automatically renews every ear

Average cost: $35 per month

Our rating: 9/10

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