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Whether you’re a business owner or a contractor, there are various forms of insurance that you will require in the paintless dent repair industry.
In this guide we will take a look at the various forms of insurance available to businesses in the industry, as well as which ones you need and how you can benefit from them.
The types of insurance that you require will depend on how your business is operated.
Whilst someone operating from their own workshop will have some similar requirements to someone operating a mobile service, there will also be a lot of differences in the specific insurance need of each.
Anyone working in the paintless dent removal industry under their own ABN will need to have public liability insurance as a minimum.
This form of insurance will cover you if your business activities result in property damage or personal injury to another person.
If you ever drive your clients’ vehicles, even if it’s just in the garage or driveway, you should also include the driving risk extension in your public liability policy.
The driving risk extension will cover you if you cause damage to a client’s vehicle whilst moving or driving it. The standard cover amount is $100,000, however you can apply for more if required.
Business Owner / Operator – Own Workshop
If you are running your own workshop from owned or leased premises there are quite a few forms of insurance that are worth considering.
For starters you will need to cover your building (if you own it) along with all of your contents and stock. You may also want to consider insurances such as business interruption and business expense cover.
Public liability and driving risk cover will probably be the most important forms of cover you will need, and you’ll also need to ensure that your employees are covered under the policy.
The best option for a business owner operating from their own premises is to speak with a qualified insurance broker, as your needs are going to be slightly more complex than others.
Business Owner / Operator – Mobile Service
Many customers love the convenience of having a mobile paintless dent repair service that can come to them at their home or place of work.
If you run your own mobile service, you will need to look at public liability and driving risk as a minimum.
As a self-employed person you would also be strongly advised to consider income protection, as if you cannot work for a period of time you will not be able to earn any income.
Tool insurance can also be a helpful form of cover depending on the value of your tools and equipment.
Most car insurance policies only offer very limited cover for personal items stolen from the vehicle, whereas a tool insurance policy can cover virtually any amount you need.
Contractor / Subcontractor
If you are working as a contractor to another paintless repair business, either in a workshop or out on the road, your main requirement will be public liability insurance.
Some businesses have public liability policies that will cover their contractors, but this is certainly the exception rather than the rule.
Generally the business hiring your services will let you know if they need you to have your own insurance in place.
If you are operating as a sole trader, as many contractors do, you can find more information on your insurance requirements in our sole traders insurance guide.
Quotes & More Information
If you would like a quote on your paintless dent removal insurance needs please visit our online quote form and follow the prompts. Alternatively you can all our office on 1300 542 245.