I suggest that you speak to an insurance agent and have him explain this all to you as in how you're covered or not. If he can't explain it to your satisfaction you shouldn't spend your money with him. My agent will sit down with me and explain anything that I don't understand. He also took notice to some areas on my previous policy (same company, different agent) where I needed coverages and wasn't covered. He also pointed out things that weren't beneficial to me either and nixed those unnecessary costs for me.
I'd say keep shopping until you're sure what it is that you're paying for.
I'm a P&C agent in Texas, Dave's advise is sound. (FYI-that insurance company has a
B rating from am best. I would urge you to do more research)
Here is some advice given in the past....
Clearly, you haven't provided enough information to give specific advice, however I can maybe give you some general advice.
Insurance carriers coverages vary from region to region. State laws regarding insurance also vary, therefore it commonly effects pricing and coverages from state to state.
You will find coverages more difficult to find if your business is less than a year old. But not impossible. Rates from carrier to carrier can vary dramatically.
The single best piece of advise I can give you is to find an independent agent near you. (This agent represents many different companies and is an advocate for your business. A State Farm agent represents a very limited scope of companies. This is not a knock on State Farm...their markets are limited)
Find an independent agent in your area. Call and ask if you could come in and talk about your business. Be prepared to give detailed information about your business plans.(ie: what is the scope of your work, type of vehicles you work on, where you work on them, equipment used, do you keep them overnight...you get the idea)
You should look at your meeting as an interview. Your agent should explain what coverages you need and why, provide multiply quotes and answer all of your questions. You should look to him as a business asset. Your hiring him and he's not doing you a favor to give you a quote.
Garage Keepers may or may not suit your needs depending on business activities. You may want to consider your liability exposure, equipment values, are you mobile (requiring commercial coverages), do you do work on commercial property.
Without exploring all of these variables and others it is impossible to know what coverages may or may not be needed.
Hope this helps.
