SMART Repairer Insurance

What is SMART repairer insurance?

What can SMART repairer insurance cover?

While every SMART repairer’s insurance needs will be different, there are some common risks – such as road risks insurance, public liability insurance, business interruption and tools insurance – that you’ll want to include.  Jensten Motor Trade’s policies allow you to pick and choose from a range of policy elements, including:

• Road risks insurance – so you can drive customers’ vehicles and any you own in connection with your business and social domestic and pleasure on public roads. As with car insurance, you can choose from third-party, third-party fire and theft, or comprehensive cover
• Public liability insurance – if a member of the public is injured or their property damaged while on your premises, you can be held liable. Public liability insurance will protect you financially should you be sued for damages
• Employers’ liability insurance (EL insurance) – is a legal requirement if you have any staff, full-time, part-time or contracted. EL insurance protects motor traders from compensation claims from their employees should a claim be made against them for loss or injury at work. Your policy must have a minimum of £5m cover, with £10m being the industry standard
• Business premises cover – if you’re trading from premises – be it a forecourt, yard or compound – you’ll want to have them protected. If your premises were damaged or destroyed, business premises insurance would cover the cost of repairs or a rebuilt
• Customers’ vehicles – if you work from premises, there may be occasions when customers’ vehicles need to be kept overnight. A SMART repairer insurance policy will ensure you and the customer are protected should the car be stolen while it’s in your custody, care and control
• Stock cover – protects your stock, parts, equipment, and machinery against risks of damage, theft, and loss
• Tools and machinery cover – without your tools and machinery, you can’t operate. With tool thefts on the rise in the UK*, you’d be wise to insure them.  This covers tools and expensive pieces of machinery, such as diagnostic equipment.  It can also provide Mac and Snap-On tools insurance, plus employees’ tools and toolbox options
• Trade plate insurance – having trade plate cover means you don’t have to register and tax your stock of vehicles while as they will only be in your possession temporarily. Trade plate insurance is a legal requirement if you want to drive vehicles on the road on trade plates
• Money and keys – if money or keys are stolen from your premises, this is designed to cover the cost of their replacement. Most policies will stipulate that money needs to be left in a safe, locked cashbox, or a cabinet
• Business interruption insurance – should disaster strike – a fire, a flood, or an explosion – and you can’t trade, business interruption insurance will provide an income until you can get to your previous trading level
• Engineering inspection service – if, as part of your trading, you use testing equipment or machinery, an engineering inspection service element to your policy will cover the cost of a safety assessment of it. Having your equipment assessed is a legal requirement as it’s part of 1998’s Lifting Operations and Lifting Equipment Regulations (LOLER) and Provision and Use of Work Equipment Regulations 1998 (PUWER). It can help satisfy your health and safety at work requirements, and it also means you’re less likely to have downtime owing to essential equipment such as vehicle lifting tables, jacks, and pressure systems failing
• Business contents – including your stock in trade, computers, phones, and other business equipment
• Products liability insurance – should a product you use or recommend cause damage or harm, you can be liable for compensation should action be brought against you
• Sales and service indemnity – protects you against claims of damage or injury after selling or repairing a vehicle.  It can include cover for faulty parts or repair work that’s contributed to the problem