When you start up in business you will need insurance cover. Contact an insurer and explain to him or her exactly how your business will operate - they will then recommend what cover you should have. This might include:
- premises, premises contents and stock
- business interruption
- employer's liability
- public liability
- motor insurance (for your own business vehicles)
- insurance cover for customers' cars while they are being worked on
- insurance to cover collecting and delivering customers' cars if this is required
Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due - enter them in the months when you will pay them.
Continuous insurance enforcement
You're likely to have quite a large number of vehicles passing through your business on a regular basis and you'll need to take certain steps to make sure that they stay legal while they're in your care, whether you drive them on the road or not.
By uploading vehicle details to the Motor Insurance Database (MID) whenever necessary you'll be able to comply with the 'continuous insurance enforcement' rules for vehicles (it's often a good idea to upload details even in situations when it's not a legal requirement). You can find out more about the MID on the askMID website.