Do Computer Repair Businesses Have Real Needs For Public Liability Insurance Cover?
There are numerous reasons why your PC repairs business requires the back up of liability insurance. Consider how you doubtlessly cannot overstress to your customers the importance of backing up their data to prevent loss.
In analogous terms, liability cover offers your business a form of back up against potentially severe financial loss resulting from claims that might be brought against you.
PCs form vital components of your customers’ lives and can often be the receptacles that contain their professional and personal lives in one small package. Hardware and software problems can cause them not only enormous amounts of aggravation and inconvenience, but also, in some cases, loss of earnings. You do not need to be told this – it is how you make your living.
What you might need reminding of when debating your need for public liability cover is that any damages to their PCs or losses of vital data as a result of your negligence or unintentional misdemeanor are likely to result in legal proceedings. Furthermore, your business shares many of the same risks as any other businesses with regards to daily damages and accidents that can unpredictably happen. Not just PC related risks.
You might be visiting a customer at home, decide that you need to take their PC away with you for repairing, drop and smash it on their path when you are taking it to your car. Or you might be repairing a PC in an office and cause a nasty trip over a computer part you have left on the floor.
Your suppliers, members of the public and your customers are all at risk of damages to their belongings and properties or injuries to their persons that might be directly attributable to your business. It might sound silly and highly unlikely, but it happens daily to many unsuspecting and unprepared professionals.
If you have a shop or a small chain of shops, your need for comprehensive liability insurance is multiplied several fold. First off, you have staff who very much need bringing in to the picture, besides your customers and shoppers who enter your retail premises. Each is as equally entitled as the others to commence legal action against you for damage to their personal property or injuries they sustain that can be tracked back to professional negligence on your part.
Liability cover for shop owners is far more complex and multifaceted than it is for one man or woman band mobile PC repairs services. As a retailer with commercial premises, you are no doubt very aware that, whilst cover exists to protect end users, being your customers, the public and your staff, it also saves you in cases of damages, losses and thefts.
What Should Ideally Be Included in Public Liability Policies for Pc Repairs Businesses?
For most businesses in general, regardless of their sectors and sizes, public liability insurance is not legally obligatory but it is highly recommended as a pure common sense measure. Employers Liability is required by law if you employ even one part time staff member. For most PC repairs businesses, Equipment & Tools insurance and Products insurance might also be relevant for you. Here is a brief resumee of what they all mean and do:-
This is your back up and financial partner that will pay out on your behalf if third party claims made against you are upheld in Court. The term third parties covers a broad spectrum of people who you do not employ, such as customers, suppliers and passers by whose property you might accidentally damage or who suffer injuries as results of your business.
Indemnity levels, meaning the amounts up to which your insurance company will pay out damages and legal expenses to successful claimants, are often agreed at £2 million, £5 million or £10 million. The amount can be decided dependent on the specific circumstances of your business.
This is similarly your back up and financial partner that will pay out on your behalf if staff claims made against you are upheld in Court. Any staff you enlist the services of, regardless of how casual or temporary, are included under Employers’ Liability. Indemnity levels are usually fixed at £10 million for small to medium sized businesses of any nature.
Equipment & Tools Insurance – offering you a different kind of back up, Equipment & Tools insurance will pay out directly to you if you experience any unfortunate damages to, losses or thefts of the apparatus and tools without which your ability to earn you living would be impaired.
This backs you up against customer claims for damages caused by the actual products you use to repair their PCs or that you sell to them, for example, an inappropriate software product or a cleaning fluid.
Is There Anything else for Mobile Pc Repairs Businesses or Shops?
Mobile PC repairs businesses should have all insurance bases covered after having selected the relevant elements of those detailed. The only additional consideration is that of commercial vehicle insurance. Whilst it does not fall under the public liability family, it well worth looking in to, as a car or van is integral to any mobile business.
PC repairs shops, however, still have a long way to go. Just as you would not overlook buildings and contents insurance for your home, neither is it suggested that you would do so for your business premises. What you additionally need to investigate further is cover for employee theft, the external fronts of your shops, your fixtures and fittings and your stock.
There are also various policy elements that can potentially offer you recompense for unexpected losses of income or your trading licenses caused by circumstances beyond your control.