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22 Jan 2004, 15:20 (Ref:846916)
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#1 | ||
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Racer
Join Date: Jan 2004
Posts: 393
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Mechanic's Insurance
This is a question for team owners I suppose.
Im looking at employing a couple of mechanics for this season. What sort of insurance should I take out to cover them both? and do you know of any good companies? Ive setup a small motorsport company for 2004 to cover all things motorsport (tools, parts, vat etc) so any advice would be helpful. |
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22 Jan 2004, 17:24 (Ref:847145)
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#2 | ||
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Veteran
Join Date: Feb 2000
Posts: 2,188
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If this is a limited company then you will need public liability and employer liability insurance, especially if they are on PAYE. If you are a sole trader and contracting mechanics then you can get away without any. If you are worried though ring a few insurance companies and see what they have to offer.
Last edited by Mackmot; 22 Jan 2004 at 17:27. |
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__________________
A Saudi saying, "My father rode a camel. I drive a car. My son flies a jet-plane. His son will ride a camel."
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22 Jan 2004, 23:29 (Ref:847599)
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#3 | |
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Veteran
Join Date: Jun 2003
Posts: 1,229
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Don't let them use anything heavy, sharp, unwieldy, fast or without comprehensive and documented training.
Once you have sorted that you are laughing. Apart from VAT, TAx, N.I., employers tax liability,ongoing health & Safety issues, First Aid, training, lah de dah. It's absolutely poo really when all you want to do is race cars. No wonder the country is up it's bot |
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23 Jan 2004, 11:45 (Ref:848099)
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#4 | ||
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Veteran
Join Date: Oct 2003
Posts: 871
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Whether a limited co. or not you will have to have public liability cover. You would do well to find a broker you can trust (if that's not a contradiction in terms)
If you are manufacturing and selling anything you will need 'product liability' insurance as well. |
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23 Jan 2004, 12:24 (Ref:848137)
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#5 | ||
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Racer
Join Date: Jan 2004
Posts: 393
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Many thanks for the info. Will be trying to get the guys to be self employed but will still take out insurances to be on the safe side. Any idea on known insurance companies that have provided policies in the past?
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23 Jan 2004, 13:09 (Ref:848169)
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#6 | ||
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Racer
Join Date: Nov 2003
Posts: 157
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Not my area of specialism but I think it is incorrect to state that you have to have public liability insurance (although we have it). It is a legal requirement to have employee's liability insurance.
The other thing to look into is "Motor Trade Insurance" which you can have as a race team and allows anyone employed and listed on the policy (including spouses) to drive any car up to a particular value. We use this as it is very economical for the 2 directors + our partners + the trusted employee's (i.e. not the apprentices) to drive whatever cars/trucks/bikes we want. The cost of the insurance is only about twice what I would pay to park my group 18 insured car on the streets of London anyway.... |
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__________________
Archibold
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