Vehicle thefts have hit a new record, with over 1 million vehicles stolen nationwide in 2023 according to the National Insurance Crime Bureau (NICB).
As an auto repair shop, it’s critical to have proper risk management measures in place to protect your customers’ vehicles while they are on your lot.
Key Risk Management Strategies to Preventing Auto Theft
To protect your customers’ vehicles, consider implementing the following risk mitigation tactics:
- Secure Your Parking Lot: Ensure your parking lot is well-lit, with functioning security lights throughout. Consider adding security cameras to monitor the lot and deter would-be thieves.
- Controlled Key Access: Invest in a secure key drop box or lock box system to prevent unauthorized access to vehicle keys. Strict policies around key handling and storage are important.
- Customer Communication: Be transparent with customers about the security measures you have in place. Reassure them that you are taking proactive steps to protect their vehicles.
- Comprehensive Insurance Coverage: Review your business insurance to make sure you have adequate coverage for theft, vandalism, and other risks to vehicles in your care, custody and control.
By prioritizing these risk management best practices, you can give your customers peace of mind and protect your auto repair business from financial and reputational impacts of vehicle theft.
Together, we can work to combat the rising tide of vehicle crime affecting our industry.
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As always, if you have any questions regarding your risk or insurance program, please do not hesitate to contact us. Our team is dedicated to assisting you and ensuring that your business is adequately protected.
Visit garageguard.com for more information about our auto repair shop insurance program.
