Providing cover that's designed for motor trades and tyre retailers
Marsh Advantage Insurance is dedicated to servicing over 500 tyre retailers nationally including member groups, franchises andindpendents. That’s why we are the preferred broker to arrange tailored motor trades insurance programs for Bridgestone franchisee/licensees.
Did you know driving customer vehicles could expose you to costly risks? With Marsh Advantage Insurance, you will recieve motor trade public liability cover to help address this serious and ongoing risk, as well as seamless claims handling and support to help you understand the risks facing your business.
Minimum recommended cover for Bridgestone franchisee/licensees
In addition to motor trade public liability insurance, members of the bridgestone Family Channel are recommended to engage with Marsh as to their business insurance requirements associated with running your Bridgestone store:
- Property insurance covers the contents and equipment of your business from unexpected specified events such as accidental damage, theft, fire and other perils such as storm, and can be extended to include flood on an offer and acceptance basis.
- There is more to protecting your business than simply insuring the physical assets. Business interruption insurance helps cover your business' financial position, following a Property loss, starting from the date of the loss and extending to when the turnover levals are back to its pre-loss level.
Emerging risks and trends for Bridgestone members to consider:
While property insurance and public liability cover takes care of the neccessities, there are many emerging threats in the industry that could have a substantial impact on your day-to-day business.
As a valued Bridgestone franchisee/licensee, you have access to Marsh Advantage Insurance’s strong understanding of Bridgestone. This means that Marsh Advantage Insurance possesses a deep understanding of the risks that are most relevant to you, making us the preferred insurance broker for all of your insurance needs. Our team will arrange cover for your business, while keeping your costs contained.
Being a part of the Bridgestone family channel provides you access to tailored coverage including the ability to increase policy limits or obtain additional covers, where required, on Cyber Insurance and Management Liability Insurance, which will help address rising business threats concerning your industry. Key considerations that Bridgestone franchisees/licensees need to be aware of include:
- Driving customer vehicles. In order to run your business, you will inevitably sit behind the wheel of a customer’s vehicle. Are you sufficiently covered for damage to a customer’s vehicle whilst you or one of your employees is driving? This is the most common claim submitted by members.
- During the normal course of repairing vehicles, unfortunate mistakes can happen, causing damage which requires rectification of faulty workmanship. Fortunately, this is a risk you can insure against.
- Providing advice to customers on products and their installation or usage? We can help you address the risk of errors and omissions as part of this customer service through a tailored insurance program.
- Bridgestone franchisee/licenees must also adhere to stringent statutory requirements involving the use, maintenance and specification of equipment and procedures (e.g Work Health and Safety Regulations, building code, fire code, etc.). If you or one of your employees was to breach these requirements, regulatory bodies can impose fines and penalties in the hundreds of thousands of dollars. Statutory liability insurance can help mitigate this risk.
- Employees and former employees can sue your business for a raft of alleged acts such as unfair dismissal, discrimination, bullying and harrassment. Employment practices liability provides protection for your personal liability for these alleged wrongful acts.
- The risk of a cyber breach is very real for any business that has embraced the digital age, with 43 percent of cyber-attacks now targeting small businesses1. Any busines that holds client information could be exposed to significant costs and business interruption resulting from a cyber-attack.
For full details of the terms, conditions and exclusions of the covers please refer to the Product Disclosure Statements (PDS) and policy wordings, which can be requested here.
Don't let your insurance program go flat!
Call the Tyre Retailers team now on 1300 307 563 or email us at firstname.lastname@example.org
Notices: When arranging Public & Products Liability insurance products, Marsh Advantage act under binding authority on behalf of certain underwriters at Lloyd’s of London and not on your behalf. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. The Coverage Summary is prepared as a brief outline of the proposed cover. It is not a complete description of all the policy’s terms, conditions and exclusions which determine coverage for a claim. Any statements concerning legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as legal advice, for which you should consult your own professional advisors. Bridgestone recieves a financial benefit when a policy is arranged by Marsh, enabling it to continue to provide further services to the Bridgestone Franchisee and Licensees.