How Much Does Mobile Mechanic Insurance Cost?
The cost of insurance can vary depending on the level of cover you want.
As a rough guide, the cost of mobile mechanic insurance in the UK may range from a few hundred to a few thousand pounds per year, depending on your needs and circumstances. For example, liability only cover may cost less than comprehensive coverage that includes protection for your tools and equipment. Combined motor trade insurance will cost a lot more given the need to insure the premises (which is unlikely for a mobile mechanic).
To get an accurate idea of how much mobile mechanic insurance would cost for your business, it’s best to compare quotes that you can get from a specialist insurance broker.
What Are The Risks Of Not Having Mobile Mechanic Insurance?
Not having insurance can expose you and your business to a range of risks and potentially financial loss.
- Liability: Without motor trade liability insurance you could be held personally responsible for any damage or injuries caused by your work. This could result in expensive legal fees, damages and compensation payments.
- Property damage: If you accidentally damage a customer’s vehicle or equipment, you could be liable for the cost of repairs or replacement.
- Theft: If your tools and equipment are stolen, you could be faced with the cost of replacing them as well as the cost of any work that you’re unable to complete without them.
- Business interruption: If your vehicle or tools are damaged or stolen, you may be unable to work until they are replaced or repaired which could result in lost income and damage to your reputation.
- Legal compliance: In some cases you may be legally required to have a mobile mechanic insurance policy to operate your business.
Having an insurance policy can help protect you and your business against these risks giving you peace of mind and allowing you to focus on your work.