In order to provide mechanics, panel beaters and other motor trade businesses with more comprehensive protection, GIO Business Insurance has released an all-in-one insurance policy designed to meet their specific needs that also includes often-overlooked coverage.
“Businesses like mechanics and panel beaters normally purchase a general business insurance package that includes cover for common claims like public liability, fire and theft,” said Leigh Smith, Senior Leader, Commercial Portfolio, GIO Business Insurance.
“If businesses want to cover more advanced risks, such as unintentional work faults or unfair dismissal claims, for example, they must take out separate policies in addition to their packaged cover.
“However, some business owners will overlook these separate covers thinking their general package will be sufficient. As a result, many motor trade businesses are underinsuring by neglecting the additional cover and exposing themselves to easily avoidable risks.”
GIO has developed the Motor Trade Protect package to combine common insurance covers traditionally found in general packages, such as Public Liability, Property Damage and Theft, with specific covers for faults, and critical equipment and tools.
“The Motor Trade Protect package includes a range of covers specifically designed for mechanics, panelbeaters, auto electricians and other motor trades, including cover for your customers’ vehicles and instances when you and your staff make honest mistakes on valuations and roadworthy certificates,” said Smith.
“The package also includes up to $25,000 cover in the rare event a mistake is made, as well as insurance for business vehicles, and portable tools and equipment.
“Operators can also face legal action from employees bringing forward unfair dismissal, discrimination or bullying claims.
“For this reason, the Motor Trade Protect package also includes Management Liability, which is normally a standalone policy. This cover can also apply to claims brought about by Motor Trade Association apprentices.
“This is a more holistic package customised to needs of motor trades.”
In addition, the package includes coverage for employees’ tools and personal belongings.
More details on the Gio website or call: 1800 036 837.