As long-time insurance brokers, we’ve seen it all, so we put together this Mechanics Insurance Checklist to give you piece of mind that you’re covered for the things you need to be, and nothing you don’t.
At Insurance Web, we know that every business is run individually and understand each one has different needs, so we recommend you use the following checklist as general advice only and speak to an insurance broker, or someone from our team, about your business.
We’ll run you through a Needs Analysis as a priority first and then we’ll look at a more tailored program structured to suit your business.
Mobile Mechanical Services and Insurance Cover
For those mechanics who run a smaller outfit operating to and from a home address with up to 4 staff members, this is what coverage you need to be looking at as a start:
- Public Liability – Bodily injury / property damage arising out of the insureds business activities.
- Faulty Workmanship and Rectification of Faulty Workmanship Extension –
the cost of rectifying, performing, re-performing, completing or improving the work undertaken and the part or parts that you worked upon, which arose out of your faulty workmanship.
- Professional Indemnity Extension – provides cover for the issue of Compliance Plates or Road Worthy Certificates as a fee for service.
- Products Liability – Bodily injury / property damage arising from products manufactured, modified, repackaged, imported, grown or sold.
- Motor – Loss or damage to the full range of motor vehicles including: windscreen free of excess and hire vehicle in case of an at fault accident for your business continuity.
- General Property – Loss and/or damage to portable items such as tools of trade, laptops and other portable equipment while away from the insured premises. Cover for specified items and unspecified items up to $2500 per item that are not specified.
Insurance for Mechanical Services with Business Premises
When it comes to covering your business on a larger scale and with a bigger team (4 or more staff), the broader business insurance package solution is most likely a better fit for you.
Along with insurance coverage already mentioned above, you need to take into consideration the following:
- Fire & Perils – Damage to assets (building, contents, stock, equipment etc) caused by fire, storm, water and nominated perils excluding flood unless specifically included (Extension for your Customers’ Goods).
- Business Interruption – Loss of trading income and increased expenses due to damage to fixed assets or prevention of access excluding flood unless specifically included.
- Burglary – Theft of property and/or customers’ goods following a break and enter (Extension for your Customers’ Goods).
- Glass – Damage to fixed external or internal glass or both.
- Machinery Breakdown – Repair costs incurred following breakdown of plant and
- Electronic Equipment – Electrical breakdown of computers and associated equipment.
- Goods in Transit – Damage to goods in transit – locally within Australia and import/export if applicable.
- Management Liability –
- Directors & Officers – indemnity following a “wrongful act” committed by the directors or officers or a company.
- Employment Practices Liability – defamation, sexual harassment, wrongful dismissal, discrimination allegations by staff or contracted staff in the workplace.
- Statutory Liability – fines imposed for unintentional breaches of government acts.
- Taxation Audit cover – expenses due to unexpected tax audit.
Mechanics Insurance Checklist
Insurance Web is your local small business insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!