Despite taking all the necessary health and safety precautions, there may be nothing you can do to prevent one of your workers or a member of the general public having an accident on your premises.
Whether it’s a slip or an accident resulting from a repair undertaken by you, having motor trade liability insurance can protect your financial interests should the worst happen.
What are the different types of motor trade liability insurance?
If you are employing people, you must accept some responsibility when it comes to providing a safe working environment. If one of your employees has an accident whilst carrying out their normal duties, you could be left financially liable.
Employer’s liability insurance ensures that you can pay compensation claims and legal costs if an injured worker decides to claim against you, or your business, in the courts.
When general members of the public enter your premises, you also have responsibilities to ensure that the environment you provide is safe. If a customer slips or trips whilst on your business property, they may seek compensation for any injuries they suffer.
However, having public liability insurance will usually ensure that the costs of a claim like that are covered.
Even if you go to great lengths to make sure your cars are safe, roadworthy and in the best condition possible, there is a small chance that they may be involved in accidents leading to damage and injury. If it is claimed that an accident happened because of repairs or maintenance you carried out, you could be responsible for paying compensation and any legal costs.
Service or sales indemnity insurance will cover the costs of paying compensation in a case like that, as well as any court and solicitor costs you are charged.
Why you need motor trade liability insurance
Times are hard for most businesses in the UK, and there is a need to cut costs and any non-essential expenditure wherever possible.
However, not having sufficient insurance can be a false economy.
If an employee trips on a trailing cable on your premises today and breaks a bone, not only will you be without that employee until the injury has been dealt with, you could be taken to court for compensation.
Without employer’s liability insurance, you will have to pay the claim, and any legal costs associated with it, out of your own – or your company’s – funds.
How can I get more information?
You can learn more about motor trade liability insurance, and what it includes, by contacting us on 0844 931 2020.
Alternatively, you can call Insure Motor Trade, and one of our experienced insurance advisors will be happy to discuss your options with you. At Insure Motor Trade, we have vast experience in helping businesses and individuals within the motor trade to get the insurance they need.
We offer some of the most competitive rates on the market, and we can tailor an insurance package that best protects the financial interests of you and your organisation.
Call us now on 0844 931 2020 for a no-obligation quote, or email us your details and we will get back to you as soon as we can.May 23, 2014