Insurance Archives - Remarkable Results Radio

Will Automotive Certifications Reshape Insurance Policies? [THA 411]

Carm Capriotto, AAP — Fri, 13 Dec 2024 19:00:00 +0000

Thanks to our Partners, NAPA TRACS, Auto-Fix Auto Shop Coaching, and Today’s Class

Take a dive deep into the significance of ASE certifications, how certifications might lead to lowered insurance policies in the future, and the importance of continuous education and proficiency testing. The discussion also covers the potential of AI in certification processes and the role of insurance and regulatory bodies in ensuring safety and competency in auto repairs.

Dave Johnson, President, ASE, National Institute For Automotive Service Excellence

Scott Brown, Founder of Diagnostic Network. Scott’s previous episodes HERE.

Matt Fanslow, lead diagnostician and shop manager, Riverside Automotive, Red Wing, MN. Matt’s previous episodes HERE
Matt Fanslow Podcast: Diagnosing the Aftermarket A to Z

Show Notes

Watch Full Video Episode
Matt Fanslow: Another ASE Rant [E091]: https://mattfanslow.captivate.fm/episode/091
Matt Fanslow: ASE Renewal App Rant [E105]: https://mattfanslow.captivate.fm/episode/105
Dave Johnson’s Background (00:01:17)
ASE Certification Benefits (00:03:41)
Importance of Technician Competency (00:07:21)
Credentialing vs. Certification (00:11:20)
Insurance and Certification Concerns (00:17:20)
Legal Implications of Certification (00:19:02)
ASE certification and insurance risk (00:20:57)
Impact of natural disasters on insurance (00:21:23)
Liability and technician competency (00:22:20)
John Eagle case implications (00:23:01)
Voluntary certification significance (00:24:49)
Legal defensibility of credentials (00:25:38)
Proficiency in technician training (00:26:44)
Insurance benefits of certification (00:28:37)
Industry collaboration for standards (00:30:29)
Continuing education challenges (00:35:12)
Renewal app for ongoing learning (00:37:05)
Microlearning in Training (00:40:10)
Personal Growth Through Learning (00:40:47)
AI in Automotive Interviews (00:41:04)
Credentialing Challenges (00:42:06)
Call for Industry Improvement (00:42:43)

Thanks to our Partner, NAPA TRACS

NAPA TRACS will move your shop into the SMS fast lane with onsite training and six days a week of support and local representation. Find NAPA TRACS on the Web at http://napatracs.com/

Thanks to our Partner, Auto-Fix Auto Shop Coaching

Proven Auto Shop Coaching with Results. Over 61 Million in ROI with an Average ROI of 9x. Find Coach Chris Cotton at AutoFix Auto Shop Coaching on the Web at https://autoshopcoaching.com/

Thanks to our Partner, Today’s Class

Optimize training with Today’s Class: In just 5 minutes daily, boost knowledge retention and improve team performance. Find Today’s Class on the web at https://www.todaysclass.com/

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Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion. https://remarkableresults.biz/

Diagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life. https://mattfanslow.captivate.fm/

Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest. https://huntdemarest.captivate.fm/

The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. https://autorepairmarketing.captivate.fm/

The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix – Auto Shop Coaching. https://chriscotton.captivate.fm/

Speak Up! Effective Communication with Craig O’Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size. https://craigoneill.captivate.fm/

EV Fire Safety: Exploring Risks and Solutions [RR 869]

Carm Capriotto, AAP — Tue, 25 Jul 2023 05:15:00 +0000

What are the hidden risks associated with Electric Vehicles (EVs)? Multi-shop owner and District Chief of the Troy Fire Department Donnie Hudson and mechanical engineer and Captain of the Troy Fire Department, Pat Durham, discuss the importance of awareness and proper training for EVs. EV fires can be complex and involve risks of corrosion and short circuits. Education and training are crucial for firefighters, first responders, and automotive professionals to ensure EV safety. Working on EVs can also have insurance implications, with potential surcharges. Despite the risks, being prepared and knowledgeable about EVs is critical when handling damaged vehicles.

Donnie Hudson, Troy Auto Care, Troy, MI. District Fire Chief, Troy Fire Department. Donnie’s previous episodes HERE

Pat Durham, Captain, Troy Fire Department. StacheD Training.

Show Notes

Watch Full Video Episode
The importance of proper towing for EVs (00:05:30) Why EVs should only be towed on a flatbed and the risks of towing them in other ways.
The potential dangers of EV fires and battery corrosion (00:02:43) Exploration of the risks associated with EV fires, including the potential for battery corrosion and subsequent fires.
The need for training and education on EVs (00:06:42) Discussion on the lack of training for firefighters, first responders, and technicians on EVs, and the importance of staying ahead of the growing popularity of EVs.
The surcharge for EVs (00:08:02) Discussion on the insurance surcharge for working on and storing EVs overnight.
The safety of EVs after a crash (00:08:44) The increased risk of fire and other catastrophic events in EVs after they have been in a crash.
Concerns about aftermarket batteries (00:10:31) The potential risks and dangers associated with aftermarket batteries in EVs.
The ineffectiveness of water in extinguishing EV fires (00:17:10) The misconception that water can put out EV fires.
The potential risks and limitations of using piercing nozzles (00:21:28)
The importance of immediate action after a crash (00:23:52)
Inspecting for road debris damage (00:25:38) The impact of road debris on EVs, including the need to inspect for visible damage and the measures taken by manufacturers to protect battery enclosures.
Inspecting EV components on a lift (00:27:52) The need for thorough inspections of EV components, such as the battery, wires, connections, and electric motors, and the importance of documenting any issues for customer safety.
Importance of understanding high voltage (00:32:25) The need for proper knowledge and safety precautions when working with high voltage in EVs.

Thanks to our Partner, NAPA AUTO CARE

Learn more about NAPA AUTO CARE and the benefits of being part of the NAPA family by visiting https://www.napaonline.com/en/auto-care

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A Shop Fire. What Happened? Resolution. Aftermath. Prevention. Matt Fanslow [RR 617]

Carm Capriotto, AAP — Tue, 23 Feb 2021 05:15:00 +0000

Matt Fanslow is the diagnostic tech/shop manager at Riverside Automotive in Red Wing, MN. His primary responsibilities are to diagnose driveability and electrical/electronic issues, and perform most all programming, coding, initializing, adoptions, etc. Basically, if it needs to be figured out or has wires, it goes to Matt. He’s been a tech since 1996.

Matt is also a subject matter expert for ASE and has instructed at Vision Hi-Tech Training and Expo.

Matt has participated on 18 ASE technical committees for the ASE Practice Test, A6, A7, A8, and L1 tests. He’s also done case studies for Standard Motor Products.

Fanslow’s goal is to do everything in his power to improve the overall level of professionalism within the automotive and light truck repair trade and also raise the level of its public image. Matt Fanslow’s Previous Episodes HERE.

Key Talking Points:

Fire in business- January 15thThe vehicle came into the shop in the evening to be serviced the following day
Everyone left before 6 pm, by 6:25 pm the fire department was called by passerby pedestrian
The shop had security cameras but no smoke detectors.
Engine compartment towards 12volt battery of vehicle was where fire had started
The building doesn’t have to be rebuilt but the rafters and trusses are damaged- heat tempers wood and it loses its “binding’ properties
Was newer vehicle- depending on cause this is how recalls are createdAn insurance investigator and manufacturer investigator- the vehicle will often be taken off-site to have a thorough forensic investigation to find out the cause
Luckily there weren’t significant damages to the tools/equipment/diagnostic machine, inventory and employee tools/equipment – you’re facing fire/smoke and water damage from fire department
Expected to be fully operational again by mid-late Fall 2021
Business interruption insurance Looks at what your business was producing prior to the interruption
A fixed amount of money to be pulled for paychecks etc
2 bays- tech works 40 hours a week, bill out 20 hours working in the bay (shop pays from own checkbook from funding) the other 20 hours they are cleaning/inventorying the shop and ‘working for insurance’
What you can do ahead of time- be proactive Invite fire marshall to come to shop- document shop layout/entrances
Fire trucks have tablets in them- when they get called to a location any information about the building can be used
Purchase from fire department safe for outside of building with keycodes to avoid damage from entering during emergency
Map out your disconnects- gas/water/electricity
30-45 seconds can make the difference between going from bad to really bad in a fire
Research and become familiar with your insurance coverage plan and educate your employees on it- can they get homeowners insurance on their equipment?
Inventory what you have in the shop- what is the cost of replacement?
Consider ‘cleanup’ investments after a disaster
Also, consider fire doors
Link fire detectors to EMS
Shop tour before the fire- Aftermarket Weekly Episode 30. Click Here.
THA 161- Insurance coverage review Part 1. Click Here.
THA 172- Insurance reviews “what if scenarios” part 2. Click Here.

Resources:

Thanks to Matt Fanslow for his contribution to the aftermarket’s premier podcast.
Link to the ‘BOOKS‘ page, highlighting all books discussed in the podcast library HERE. Leaders are readers.
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As a member of the NAPA family, AutoCare Center owners can take advantage of the NAPA National Health Program from the NAPA Insurance Center. This “NAPA only” program gives you and your employees access to national “large group” rates on medical insurance with premiums discounted up to 30 percent. These rates are based on the collective purchasing potential of 22,500 NAPA locations including both NAPA AUTO PARTS stores and NAPA AutoCare Centers.

The NAPA Insurance Center can help you with a variety of other insurance benefits too. For more information about The NAPA National Health Benefits program as well as all of the insurance benefits available to your AutoCare Center and your employees, visit the NAPA Benefits Center, at www.napabenefitscenter.com or call the NAPA Benefits Center at 844-627-2123.

Insurance Reviews – What if Scenarios [THA 172]

Carm Capriotto, AAP — Thu, 21 May 2020 05:15:00 +0000

Bambi Crozier, wife and co-owner with Neil Crozier, of Car Clinic in Lowell, AR (Northwest Arkansas), has a passion for the hardworking shop owner. Her vision to Change the Face of Automotive Care motivates and inspires every aspect of her daily operation. She entered the industry in 2012 as an entrepreneur shortly after moving back to Arkansas. She spent more than 11 years at AT&T in client relation roles and has a talent for looking at her business and the auto industry through the lens of a client. Bambi’s previous episodes HERE.

Kim Auernheimer, AAM is the Co-Owner & Business Manager of CS Automotive in Brentwood, Tennessee. CS Automotive was opened in October of 2006 in the back of a warehouse and now they call a 6,400 square foot, 10-bay shop home. Prior to joining her husband Rob in the business on a full-time basis, Kim had a career in Commercial Real Estate and Property Management. In July of 2011, she stepped out from the background of the business and joined her husband in the venture of creating an industry-leading standout

Kim continuously seeks out training for her and her entire team and put the teachings to use. Her belief in industry education has been a large influence on how much success and growth they have had over the last few years. She has a passion to improve the reputation of the Automotive Repair industry working alongside other shop owners and industry leaders to improve the overall experience of the customer from the moment they make that first call to the shop until they drive their car off the lot instilling transparency and developing trust during the entire process.

In 2017, she obtained her Accredited Automotive Manager (AAM) designation. This is a result of 120-credit hours of coursework in several core competencies including leadership, marketing, customer relations, accounting, and several other areas of automotive repair business management. Listen to Kim’s Episodes HERE.

David Coury, AAI, CIC, is the Senior Account Executive of IGO Insurance Agency.

Key Talking Points:

Who can I call to review my insurance to make sure I have everything I need and compare what I have to what others in my industry may have?Your agent is a critical advisor to you
You must trust them. Have lunch. Look them in the eye
Find a specialist, if you can, in the automotive industry
You don’t know what you don’t know. You may not know what to ask that is why a strong relationship with an agent will bring more to the table
What if my building burns down – are my tools covered? Are my clients’ cars covered? Are my employee’s wages covered? Is my lost revenue covered?At fault, not at fault
David says co-insurance is important.You’ll need to be close to the value of building on coverage
Actual rebuild costs, you need to be covered up to 80%
Business interruption for income is criticalYou can get 12 months actual loss sustained
Keeping you even
Read the fine print
Look at replacement costs of new equipment
COVID19Your policies may have a virus/bacteria exclusion
Workman’s comp may have a ‘disease at work clause’
The natural course of events should not be part of your Workmans comp
What if we have an accident in a client car? Is the car covered, are the other people covered, is my driver covered? What if there’s damage to another property?You did the work on a client’s car and something happened. You’ll want comprehensive coverage.
Liability will also cover if the client is driving
Test drives:Non-owned auto liability
Workmans Comp can come into play
There is Garage Keepers coverage
Consider an umbrella policy to cover catastrophic claimsBuy coverage based on your appetite for risk
David sees catastrophic claims $3-5 Million
Umbrellas do not fill gaps. It extends what you already have
Tough to suggest what coverage to get. Your appetite for risk
Consider a personal umbrella also to cover you personally
Insurance follows the vehicle
Look at drive other car coverage for your business
Sexual harassment needs to be an endorsed rider
What if my employee is hurt at work?Workmans Comp
States track your claims and you get an experience modification
Should you self insure small claims, cuts/bruises (a suggestion not the rule)Ask your agent and look at your experience
Let your agent guide you on filing claim
A customer gets hurt on your property (rent or own)If you are leasing, you must read your lease to understand your liability
The landlord can demand you have certain coverage and umbrellas
You need to be sure your landlord has insurance
What if we blow up a motor? Is the damage covered?Carrier can say you touched the engine it is your fault
You need to look at ‘mechanics errors and omissions’ coverage
Also’ broad form product’ coverage on your general liability
Do I need commercial umbrella insurance? What does it cover? Is there a place where there is too much coverage and we become sexy for lawsuits?See #4 above
Cannot get calls or the internet or power to run the tools?Look at the fine print of your policy
Big storm, power is out. But why? Flood? (possibly no coverage)
Many policies exclude overhead transmission lines. 9 of 10 polices do not cover overhead transmission lines
What if there is a big hail storm and it damages all our company cars and client cars outside?Need comprehensive coverage for your cars
There will be a deductible fr the company cars
A stop loss on your garage keepers coverage
Direct and primary coverage has a limitActual cash value for replacement
Look at your flood coverageAnyone can have a flood
What if someone accuses us of unfair employment practices?Employment-related practices policy or endorsement
Wrongful dismissal
Unfair hiring practices
Sexual Harassment
Discrimination
A third party. An outsider comes to your place. Look at this coverage.
Critical to have a handbook and procedures manual that describes how all of these claims are managed
“Fear is the length and shadow of ignorance ”

Link to previous Insurance Academy #161 HERE.

Resources:

A special thanks to Bambi Crozier, Kim Auernheimer, and David Coury for their contribution to the aftermarket.
Books Page HERE
Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes.

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Bonus Episode 03 – Town Hall Academy on Insurance Coverage

Carm Capriotto, AAP — Fri, 13 Mar 2020 20:05:00 +0000

Brad Hazelwonder is an Insurance Marketing Representative for Federated Insurance. His areas of expertise: Business Insurance, Life & Disability Insurance, Estate Planning, Business Succession, and Key Employee Retention

Key Talking Points:

Insurance is a contract between the business and the insurance company
Two typesPhysical propertyWhat you own
Your Customers property
LiabilityYou are responsible for damage to others and their property
You have more responsibility than an individual
When you hire someone you say you trust that person
When they do something wrong the liability is on you.
These claims are going through the roof
Yearly audits are done with your agent. Sometimes twice. They may ask:Are there name change
New property
Mailing address
Changes in equipment
Look at revenue
Changes in payroll
Look at loaners and the limits you want
And many more
LoanersYou must check if your customer has a valid license
You must check if they have valid insurance
No different than a rental car contract
You need to get a signed agreement with the customer on the use of the loaner car. Your insurance company can get you a version (vehicle usage/release form)
You may need a declaration page or insurance card. Verify with your insurance carrier to the proper way to cover yourself.
If the insurance isn’t paid, they have no insurance even though you may see an insurance card. You can call the customers agent to send you a declaration of insurance
Some customers can go through their app to send you a declaration
How Insurance pays outThere are certain types of coverageReplacement cost. Like, Kind, QualityConsider taking a higher deductable
Actual cash valueTake the depreciated amount out
DeductiblesThere is a hidden value in deductiblesWorkmans compUpfront saving
Can prevent your MOD rating by paying a portion (experience rating)
The number of claims increases your premiums. Higher deductibles can save you money, however, your exposure is higher
Good processes and quality programs help minimize your risk
Report all claims. You can make it report only. Get it on record, you can always pull the claim.
Cost management: Insurance deductibles and coverage
Business and persona umbrella policy is a givenUmbrella policies sit above all other policies and provide you additional coverage
With insurance, you get what you pay forWorking with an agent face to face is a huge value to your business
Business interruption insuranceConsider the length of time you may need. It will always be longer
If you don’t report all your income then you also have a gap you’ll need to deal with. Get all your sales on the books
Nothing good happens after midnight
Have proper limits
You should ‘What If’ with your insurance agentWhat Happens If ….

Resources:

A special thanks to Bambi Crozier, Kim Auernheimer, and Brad Hazelwonder for their contribution to the aftermarket.
Books Page HERE
Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes.

Facebook Twitter Linked In Email

Mobile Listening APP’s HERE

Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.

Buy Carm a Cup of Coffee

Insurance Coverage Review – Part 1 [THA 161]

Carm Capriotto, AAP — Thu, 05 Mar 2020 05:15:00 +0000

Key Talking Points:

Insurance is a contract between the business and the insurance company
Two typesPhysical propertyWhat you own
Your Customers property
LiabilityYou are responsible for damage to others and their property
You have more responsibility than an individual
When you hire someone you say you trust that person
When they do something wrong the liability is on you.
These claims are going through the roof
Yearly audits are done with your agent. Sometimes twice. They may ask:Are there name change
New property
Mailing address
Changes in equipment
Look at revenue
Changes in payroll
Look at loaners and the limits you want
And many more
LoanersYou must check if your customer has a valid license
You must check if they have valid insurance
No different than a rental car contract
You need to get a signed agreement with the customer on the use of the loaner car. Your insurance company can get you a version (vehicle usage/release form)
You may need a declaration page or insurance card. Verify with your insurance carrier to the proper way to cover yourself.
If the insurance isn’t paid, they have no insurance even though you may see an insurance card. You can call the customers agent to send you a declaration of insurance
Some customers can go through their app to send you a declaration
How Insurance pays outThere are certain types of coverageReplacement cost. Like, Kind, QualityConsider taking a higher deductable
Actual cash valueTake the depreciated amount out
DeductiblesThere is a hidden value in deductiblesWorkmans compUpfront saving
Can prevent your MOD rating by paying a portion (experience rating)
The number of claims increases your premiums. Higher deductibles can save you money, however, your exposure is higher
Good processes and quality programs help minimize your risk
Report all claims. You can make it report only. Get it on record, you can always pull the claim.
Cost management: Insurance deductibles and coverage
Business and persona umbrella policy is a givenUmbrella policies sit above all other policies and provide you additional coverage
With insurance, you get what you pay forWorking with an agent face to face is a huge value to your business
Business interruption insuranceConsider the length of time you may need. It will always be longer
If you don’t report all your income then you also have a gap you’ll need to deal with. Get all your sales on the books
Nothing good happens after midnight
Have proper limits
You should ‘What If’ with your insurance agentWhat Happens If ….

Resources:

A special thanks to Bambi Crozier, Kim Auernheimer, and Brad Hazelwonder for their contribution to the aftermarket.
Books Page HERE
Listen to all Remarkable Results Radio, For The Record and Town Hall Academy episodes.

Facebook Twitter Linked In Email

Mobile Listening APP’s HERE

Join the Ecosystem – Subscribe to the INSIDER NEWSLETTER HERE.

Buy Carm a Cup of Coffee