What you need to know about Motorcycle Training School Insurance
As a training school, you’ll have a range of bikes – anything from a scooter with a small engine to a powerful superbike, to suit riders of all ages and abilities.
It’s important that you get the correct cover to protect your business. You can tailor your cover on business needs, pick and choose the right protection to build a bespoke policy.
The policy must cover the motorcycle for third party damage, fire and theft. The cover will include trainees of all ages and ability while they are under guidance and tuition.
Make sure that all vehicles are added to the policy and any changes should be made immediately, to ensure they are covered on the policy.
Freelance, subcontractors and self employed Instructors must be properly covered too, with adequate personal business cover if they ride their own machine.
This kind of cover can be added to the trade policy for a small premium and ensures a blanket cover for all instructors. Professional Indemnity is strongly suggested for all motorcycle instructors – regardless of the cost.
In this day and age with the sue culture, it is imperative that the business is fully compliant and covered for all eventualities, if proper business cover is not in place the individual instructor and/or the ATB Owner is personally liable.
Call us for help or advice with your Motorcycle Training School Insurance
0345 504 0353
Public Liability Insurance (PL)
Covers you against claims from Third Parties for property damage or injury, in basic terms falls, slips and trips (excluding employees).
However well prepared you think you are, accidents do happen and the simplest accident can be financially devastating. Public liability insurance pays out if a client or member of the public is injured whilst on your premises if you can be shown to be negligent.
Public liability insurance covers you for the cost of a claim made by a member of the public that has suffered injury or damage to property whilst on you premises as a result of your negligence.
It protects you against the cost of compensation to be paid out, as well as the legal expenses incurred by the claims process.
Note: If working from a home address, the home insurance must have adequate business cover. The ATB Owner should declare that the home address is the place of business.
Employers Liability Insurance (EL)
Covers injury to your employees as a result of your negligence (this cover is Compulsory by Law if you have employees)
Employers liability insurance will help you pay compensation to employees who get injured or fall sick as a result of your business activity.
Employees may get hurt completely by accident or as a result of their work being mentally or physically demanding.
However, if any damage caused is directly as a result of the work they are doing for the company, the employee has the right to sue, claim or demand compensation. For this reason, it is important for companies to have EL as a way to protect their employees and business interests.
Employers Liability Insurance for Self-Employed Workers
It is a tricky subject when it comes to self-employed workers or freelancers. If you only work with people who are self-employed and have no other employees, then employee liability insurance is not a legal requirement for your business.
However, if self-employed people work at your premises, use any of your equipment and given instructions by the business, you are still responsible for their health whilst in the workplace. Therefore appropriate cover is required.
Professional Indemnity Insurance (PI)
As a professional business providing advice and services to clients, Professional Indemnity cover must be seen as essential in the business insurance package.
It is important to be confident in the quality of work the business delivers but even with the best intentions, things can go wrong.
If a client was to sue because they were unhappy with the service your business provided, Professional Indemnity insurance provides cover for your business for breach of professional duty.
Even if you have not made a mistake legal cover is necessary to fight a claim against you or your business.
You will need Professional Indemnity Insurance if you:
- Provide expertise, skills or advice to customers/clients
- Have access to clients confidential information
- Provide professional services – where training could be challenged
The reality is that any small business providing a professional service that can be challenged is vulnerable to a claim of negligence when the advice or service fails to meet a client’s expectations.
These kinds of claims can be costly in time and money and disruptive regardless of whether they are legitimate claims or not.
Note: In general policies will exclude the use of mechanical vehicles and bodily injury. For ATBs to be properly covered they must have these exclusions removed from the policy
Personal Accident Cover (Personal Injury)
Personal Accident cover is an additional insurance that can be purchased by individuals or groups, it provides compensation and some financial security in the event of bodily injury as a result of an accident.
The quality of the policy is the decision of the individual.
Personal Accident policies pay out in the event that any of the following occurs as a direct result of an accident (policy dependent):
- Hospitalisation
- Loss of limb, sight, speech, jaw or hearing
- Partial disability
- Death
- Inability to gain any employment
- Damage to clothing when bodily injury occurs
Note: There are different policy levels of Personal Accident cover, the more you pay the more cover is given. Cheaper policies will only pay out on death, whereas more expensive policies will pay out on minor injury.
Premises and Stock Insurance cover (can include Business interruption cover)
To protect your premises and stock
Your business equipment and furnishings are vital to the daily running of the business.
Contents and stock insurance cover helps make sure that you can continue trading if the things you keep on your business premises are lost, stolen or damaged by an insured event.
It covers the cost of replacing them, getting you back on your feet to continue trading. Depending on the policy, replacing stock maybe based on its cost price and not the retail value.
Business Interruption
Offers protection in the event of an Insured occurrence causing disruption to your business
It is designed to protect businesses from any financial loss due to any damage to the business premises such as fire, flood or storm damage.
Whilst buildings insurance will only give cover in the event of physical damage to the property, business interruption insurance will cover any potential financial loss of income that the business would have received had conditions been normal.
Depending on the severity of damage to the premises, this could mean the difference between continuing business as normal, and closing the company.
If your business is unable to trade because of an interruption, business interruption insurance should cover lost income for up to 12 months.