Workshop insurance is definitely one of the most important financial decisions which protect the workshop against loss that may incur during day to day trading. There are a lot of insurance companies in NZ such as Tower, AMI and State etc. To choose the right one will get your business covered as you expect. Takapuna Brakes & Automotive bought the insurance through an insurance broker. Tony told me that buying insurance via an insurance broker is cheaper and it also offers better services. The insurance policy that is used by the workshop includes: property insurance which protects the building, equipment and tool; business income insurance which provides coverage in the event of many perils beyond control such as fire, wind, hail or vandalism that may interrupt the business; equipment breakdown coverage, which protects if the equipment is damaged from power surges, mechanical breakdown, burnout or operator error; bodily injury and property damage liability, for those instances when the employees, products or services cause harm to other people or their property.
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