What Is Public Liability Insurance And What Does It Cover?
Motor Trade Public Liability Insurance will cover the financial costs of claims made by members of the public for accidents or incidents caused as a direct result of activity from within your business. This would typically be damage/loss of property or personal injury. Motor Trade Public Liability insurance will cover all financial claims including any legal expenses.
Motor Trade Public Liability Insurance Explained
Public Liability insurance is designed to protect YOU, the motor trade business owner, against claims made by members of the public for accidents caused or damage made as a direct result of your business activities. Although this type of insurance is not required by law, it is still the most common policy taken out by small businesses across the UK and should be considered essential if members of the public are to be interacting with your business in any way. It is crucial that the importance of Public Liability insurance is not disregarded, as even the smallest dent to a customer’s car, or the most minor of injuries, can easily see claims mount up to a few thousand pounds after legal expenses.
Another thing to take note of is that your potential customers are quite savvy when it comes to potential pitfalls and may well take their custom elsewhere if you do not have sufficient Public Liability insurance in place. After all, it is also in their best interest to know that the business in which they choose to trust their vehicle purchase, maintenance or cleaning with can fully protect them should the worst happen.
Who Needs Public Liability Insurance?
Any business that interacts with a customer or member of the public, would be advised to take out Public Liability insurance regardless of how big or how small that company may be. Even the slightest incident involving a customer or a customer’s property could result in a claim against you. This could be a trip or fall on your premises, you damaging their property or causing injury whilst conducting work somewhere else or anything else of that nature. There is always a possibility that an incident could occur so we recommend that it is best to be fully protected.
So, who could benefit from having cover:
- Vehicle Sales
- Bodyshop Owners
- Garage Owners
- MOT Service Centre Owners
- Vehicle Recovery Agents
- Tyre & Exhaust Fitters
- Car Jockeys
Public Liability Cover For Motor Traders
Make sure your business is protected against claims made against you by customers and members of the public, following an accident or incident which results in damage to property, personal injury, illness, or even death. With so many potential hazards in your motor trade business, can you afford not to have cover in place? Get a quote now and see if you can save some money!
Public Liability Insurance – Protect Your Business
Working as a motor trader, whether operating from home or from designated premises such as a garage, showroom or car lot, the chances are that you will have members of the public visiting your premises. When working with heavy machinery, tools, chemicals and oils which could all be potential hazards and could all lead to accidents, injuries or illness being caused to anyone they come into contact with, then it is important you have the right protection in place to cover any legal fees and compensation associated with any claims arising as a result. Oil spills, uneven surfaces and tools lying around could all act as trip hazards and could end up costing you thousands! It also covers claims for damage to third party property caused by your business. So why have Motor Trader Public Liability cover:
- Protect Your Customers
- Protect Members Of The Public
- Cover Third Party Property
- Cover Legal Defence Costs Compensation For Illness Claims
- Compensation For Injury Claims
- Compensation For Death Claims
- Protect Your Business
- Give Customers Peace Of Mind
Why Is It Important To Have Public Liability Insurance?
The main reason that you should take out a Motor Trade Public Liability insurance policy is to cover your business should the worst happen and a customer or member of the public gets injured or their property is lost or damaged. Ask yourself, could your business sustain a successful claim made against you? Even the smallest of claims can easily turn into £1000s due to legal expenses. With Public Liability insurance, at least you can rest assured that all costs and fines will be taken care of without it having a damaging impact on your business’s financials. It is also good practice and shows your potential customers that you can fully protect both your business and their safety.
Why Should You Take Out Motor Trade Public Liability Insurance?
It’s especially important if you’re a small motor trade business. You may think that foregoing Public Liability insurance will save you money and in the short term, it just might. However, if a customer (or member of the public) has an accident on your premises then you may see yourself on the end of a costly claim. Not only does it protect you in the event of a claim, it protects your customers, as well as instilling trust and displaying a certain level of professionalism. Importantly, it also covers legal costs, but most of all it’s just good business practice.
The biggest reason for getting Public Liability insurance is peace of mind, knowing that you can operate, safe in the knowledge that you’re insured on all fronts meaning you’ve got one less thing to worry about.
Why Choose Think For Public Liability Insurance?
Are you still looking for more reasons to get a Public Liability insurance quote from Think? No problem, here are some additional features and benefits of our Public Liability insurance cover:
- We cover part-time and full time motor traders
- We cover traders operating from home, on the road, or designated business premises
- We’ll cover your legal defence costs associated with any claims made against you
- We’ll cover compensation pay outs too
- We deliver award winning service – winners of the ‘Most Loved Broker’ award for 3 years running!
- We can also cover you for Public Liability and Sales & Service Indemnity
- Free 24/7/365 Claims Helpline
- Flexible payment options available for motor traders
The price of your Motor Trade insurance policy can vary depending on a number of factors, and more add ons can make it more expensive.
A combined traders policy covers more than just the standard road risks. It can cover the following (and more!)
As a specialist Motor Trade insurance broker, we are able to cover people working in the trade on a full-time basis and on a part-time basis too.
Changes to your Motor Trade insurance policy can be made and sometimes must be made.
Having the right insurance in place could save you thousands in the long run.
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