Bodyshop Insurance

The Institute of the Motor Industry Website

Retail Motor Trade Federation – The Retail Motor Industry Federation (RMI) is the UK’s leading automotive trade body, representing franchised car and commercial vehicle dealers, independent garages, bodyshops, motorcycle dealers, petrol retailers, auction houses and cherished number plate dealers,

Your shop is filled with expensive tools, machines, and vehicle parts. Think of your spraying booths, spray guns, and other equipment. What about cash on the premises? What would happen if all of this was destroyed? How would you cover the damage and start again?

With body shop insurance, you’ll have the means to start over. You can repair and/or replace everything your business needs to continue operations.

Body shop insurance policies do vary by provider; however, most insurers offer the following coverage:

• Road risk & combined
• Body shop equipment
• Tools & portable tools
• Driving customer cars
• Split indemnity
• Multiple drivers covered
• Multi premises
• Buildings & contents
• Cover for vehicles
• Employers’ and public liability insurance
• No claims bonus protection
• Claims & convictions

The key is to have the right coverage for your body shop business. Why take a risk on claims for faulty repairs, parts, or accidents? Could your business cover expenses out of pocket? Claims of this nature can be pretty costly, and may even put you out of business.

In addition to these policies, you may also want to consider purchasing a public liability insurance policy. Public liability protects members of the public who may be injured on your premises.

Another policy to consider is product liability. A product liability insurance policy covers you if a product is defective or was not properly installed. If an accident results and a customer files a claim, product liability covers the damage and medical costs caused by the product(s).

Yes, if you run a body shop, drive customer vehicles, and have employees, you need body shop insurance. And don’t forget to consider liability insurance. For one thing, if you have one or more employees, you’re legally required to have employers’ liability coverage. Body shop insurance works for the following:

• Body shop owners
• Vehicle repair garages
• Vehicle customization garages

Another coverage to consider is product liability insurance. This policy protects you and your business in case of a faulty product or the incorrect installation of a product.

The good news is that these policies may be included in most bodyshop insurance policies. However, it is possible some insurance providers may have these as separate policies that need to be purchased in addition to the regular bodyshop insurance.

No, most body shop insurance policies cover employees who are 21 years or older. However, road risk policies may not cover someone until they’re 23 years or older. For this reason, it’s strongly recommended that you avoid hiring anyone under 21 to work in the body shop.

Body shop insurance and other motor trade insurance policies make it possible for businesses in the motor trades to protect themselves and their customers from loss and damage.

Body shop insurance can protect all of the tools and machinery you have on-premises. It can also protect the parts you keep on hand. In addition, this coverage can protect your business from road risks, accidents, damage, faulty parts & incorrect installations, and so much more.

This coverage also works to cover multiple drivers and provides liability coverage. What’s more, many policies offer 24/7 claims service, so you know your claim will be solved quickly and efficiently no matter the time of day, even on weekends.

Yes, this may be possible if you have a claim-free record on a previous motor trade insurance policy.

Experts strongly recommend purchasing public liability coverage. This way, you’ll have coverage in case of an accident on premises or involving members of the public.

The answer depends on several variables. An insurance provider looks at several factors to determine the level of risk you present. They may review these factors:

• Where the business is located
• The number of vehicles your company works on
• The type and value of vehicles you work on
• Level of driving experience
• Experience in the body shop repair and restoration business
• Claims history
• The type of equipment you use on the job
• The value of portable hand tools
• The value of the business premises

Each insurance provider offers its own body shop insurance policies. As you research policies, you’ll find that each one varies. In addition, different insurers may view you as a different level of risk. So, it pays to comparison shop to find a policy that fits your circumstances and your budget.

One of the best ways to save on your body shop insurance policy is to comparison shop. It takes time to research different insurance providers and their policies, getting quotes, and more. But the effort is worth it if you can find a policy that’s a good fit and is affordable.

We’re here to make your job easier! On MyMoneyComparison.com, we’ve put together a team of experienced, knowledgeable insurance brokers who deal with body shop insurance. They can help you find the right policy at an affordable price.

All you have to do is fill out our simple form, hit “Enter,” and then wait a few minutes for the quotes to appear. You can then review each policy and quote, compare the policies, and find the best insurance for your business.

If you have any questions about the policies, we recommend contacting the insurance providers directly. They’re the best ones to answer your questions and ensure you get the right policy at the right price.

So, start comparison shopping today right on our site! It’s fast and easy to get your body shop insurance quotes today!