Insurance is something that everyone has heard of and that in one form or another, the vast majority of people, wherever they live around the world, will have in place to ensure that they are covered in the event of a certain risk happening.
Although you’re likely to have heard of and be able to talk about a variety of different insurance types, it’s also highly likely that there’ll be a substantial amount that you’ve never even heard of before, with the following three insurance types being prime examples.
1. Motor trade – for any business or individual who is involved in the motor trade, whether that’s a garage providing repairs, services and MOTs or a dealership selling new and used cars and who take customers out on test drives, motor trade insurance covers them in a range of different eventualities, such as damaging a customer’s – or potential customer’s – car.
Although motor trade insurance isn’t a legal requirement, you’ll be hard pushed to find any business in the industry who doesn’t have a motor trade insurance policy in place.
2. Courier – a legal requirement under UK law if you’re receiving a reward, monetary or otherwise, for the transportation of goods, courier insurance is something that every single business who provides courier services, whether they’re a one man band or a global corporation, will have in place.
Protecting them in the event of a number of different instances, one of the most useful reasons for having this type of insurance is in case the items that the courier are transporting get lost or damaged for whatever reason and the customer makes a complaint – or even takes legal action – against the courier.
3. Driving school – although in one respect being a driving instructor brings with it a low risk, as pupils aren’t taken out onto roads – even quiet ones – until the instructor feels that they’re ready (and even then they have dual controls in the car so that they can stop the vehicle if need be), when you think that the instructor could have over a dozen unqualified drivers driving in their car every day, it’s understood why they are seen as high risk.
Meaning that driving school insurance is an absolute necessity, this type of insurance covers any driving school or individual instructor should they be involved in an accident when teaching a pupil and the other party decides to make a claim against them.
As fantastic as insurances may be, some people simply don’t believe that they are worth their money.
However, the truth is that while insurance policies can sometimes be expensive to take out, especially if they increase, even marginally, year on year, should you ever need to utilize the services of the insurance policy, the entire process will almost always be taken care of by the insurer, meaning you can simply sit back and relax while all the hard work – including paying out for any costs, where necessary – is taken care of for you.