Why do Motor Repair businesses need insurance?
Just because you are fixing up an unreliable car does not mean your insurance should be unreliable. We know your work can require long taxing hours that is why Bi-me wants to get you covered within minutes. We provide you with multiple competitive quotes from some of South Africa’s leading insurers and with a click you are covered.
What should I consider before purchasing insurance for my Motor Repair business?
Protecting your business from unexpected events and challenges is where business insurance comes into play, providing cover for when you need it most for things like theft, electronic equipment and public liability claims.
Fundamental Insurance for Motor Repairs
Regularly selected insurance for Motor Repairs
Insurance for Motor Repairs
Electronic Equipment
Electronic Equipment is important as many motor repair shops depend upon a full range of equipment which includes laptops, computers, and air conditioning.
These high-value items need to be specifically included in your business insurance policy to protect you in case of accidental damage due to flood, fire, snow, hail, wind, impact, explosion, subsidence, as well as malicious damage or theft and damage caused by power surges or power dips.
Public Liability Insurance
Public Liability protects against the many possible accidents that can happen in a motor repairs environment.
The cover is designed to provide protection for you and your business in the event that a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities.
Theft
Theft is one of the most common claims motor repair businesses file for. Your business might be the victim of theft or fraud from outside of your business or sometimes one of your employees may steal from you and you’ll need Employee Dishonesty cover.
The right business insurance will cover you against acts of theft and fraud, whether these come from your own employees or from outside of your business.
Buildings
Buildings are one of your most important assets. This insurance can protect your business from damage caused by unforeseen events such as fire, storm, earthquake, wind and more.
Business Interruption
Business Interruption is import for the continuity of any business. What happens if there are events out of your control (fire, storm, flood, etc.) which prevent you from operating your shop?
This type of insurance covers for financial loss as a result of an interruption to your business caused by an insured event (such as fire).
Employee Dishonesty
Employee Dishonesty cover is important as your employees are fundamental to what your business does, but a few bad apples can be very damaging to your business.
Having protection against losses from employee theft or fraud is crucial for most motor repair businesses – especially when staff turnover is high.
Money
Money insurance covers any loss of, or damage to, money your business might experience. Businesses that deal in cash are always at risk of having money stolen.
Getting the Right Insurance for Motor Repairs
Every mechanic and panel beater shop is unique, with each business having its own insurance needs and risks. Bi-me gives you access to multiple quotes to compare with some of South Africa’s top insurers, so you can choose the right cover to suit your business.
Our friendly team is only a phone call or a few clicks away to assist with getting your business covered in minutes.
Did you know?
If you are renting your business’s premises, part of your commercial lease may require you to take out glass cover.
Could this happen to your business?
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Fiery Fiesta
A customer brought his vehicle in for repairs, while busy working on the vehicle, there was a malfunction and the vehicle got further damaged by fire. The client successfully claimed for the damages from his insurance.
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Like a thief in the night
A motor repair business was broken into during the night. The thieves broke the windows to get into the store and, stole equipment that was important to the operations of the business. The client claimed from their insurance company for the broken glass and theft of the equipment and was compensated for the loss.
Frequently asked questions
If an employee of your business causes injury to a member of the public or damage to their property, your business might be held liable. You can protect your business by buying public liability insurance. A product that you sell or work that you do for a client may also lead to damages.
To cover your business you can get product liability and defective workmanship insurance. If you do not have insurance in place and you do not have the cash to pay out the claims against you, your business might not be able to continue operating.
The obvious factors are your selected sections and amount of cover – more protection means higher premiums. Other major factors include occupation, address and claims history. If other businesses in your occupation or area have had lots of losses in the past, premiums will generally be higher.
If your business has had lots of losses in the past, your premiums will usually be higher. It is very important to be honest when disclosing all of your information – if an insurer finds that you were dishonest, you may not be covered when you have a claim.
Yes, you can cancel your policy with immediate effect 24/7 on your Bi-me portal. We will then process your pro-rata refund (if applicable) – the money should be back in your account within 7 working days.