4 minute read
Could an Accident Cost You a Fortune?
Could an oopsie-daisy moment cost you a fortune?
With the best will in the world, sometimes, accidents happen.
They’re happening every single day, in workshops right across the country. Sometimes they’re big; sometimes they’re small. But, as Capricorn Risk Services’ New South Wales and Australian Capital Territory Sales Manager Rob Sedkey warns, even small accidents can have big repercussions.
“Scan tools are a big one,” Rob said. “They’re expensive pieces of equipment but then someone leaves it on a car roof and drives off for a road test, and bang, it flies off and smashes. We’ve even had Members drive into toolboxes and some of them can be quite costly. A lot of the time these accidents are due to distractions.”
“We see those kinds of situations a lot. There’s the general dropping of things, accidental breaking of things, and running into things. That’s why having a range of different cover, including accidental damage protection may have a range of benefits for your business. It can have a real impact on a business.”
Making sure you have a range of cover including general liability, accidental damage, general property, and engineering protection (which protects against loss or damage to machinery and electronic equipment due to the breakdown of such equipment) can protect yourself, your staff, and your customers.
“We had one claim where the Member’s gone to line up the car with the hoist to get it in position, put their foot on the accelerator, and ended up launching it into a toolbox,” Rob said. “That was a $12,000 claim in damage to the car, the toolbox, and a lot of inconvenience.”
Rob urged Members to think carefully about the value of their assets and what impact it would have on their business if the item was taken out of action— especially if it’s a piece of equipment that is used every day.
“If you’re a tyre shop, for example, you might have a couple of tyre balancers and tyre changers,” Rob said. “Those are expensive pieces of equipment. If one of those is accidentally damaged, it could cost you a lot. But it could also cost you a lot more in business interruption.”
“Or if you’re a smash repairer and something accidentally happens to your spray booth and the electronics are completely gone, they’ve malfunctioned — imagine the cost of that unforeseen breakdown.”
Rob said the pain of having a vital piece of equipment offline was bad enough at the best of times but was made even worse if the equipment was still under finance.
“Then you haven’t even paid it off yet and it’s broken,” he said. “So, if you haven’t got the right level, or have no level, of protection for the different elements which make up your business, imagine how you’d feel. You’d be absolutely ropeable.
“Yet it happens all the time.”
Accidents happen in myriad and sometimes unlikely ways. They’re unplanned and they’re unfortunate. But you can make dealing with the fallout of an oopsie-daisy moment much easier by ensuring you have the correct coverage for your business.
Capricorn Risk Services can help your business navigate the different protection policies, so you have peace of mind, no matter the ‘oopsie-daisy’ moments. Contact your Risk Account Manager today for more information.
Contact Capricorn Risk Services 0800 555 303 I info@capricornrisk.com I capricorn.coop/risk
Get ready for Capricorn Events
We are so excited to begin welcoming Members and Preferred Suppliers back to Capricorn events in 2022. It’s been a long time, and we cannot wait to catch up and hear what’s new.
As we begin to live with Covid-19, many of our external event providers and venues have new policies regarding vaccinations by which we need to abide to offer a safe, welcoming event for everyone involved. Please be aware that when booking or attending a Capricorn event you may be required to provide proof of your Covid-19 vaccination status. You may be denied entry to the event if you do not comply with the venue’s requirements, policies or any government restrictions or mandates that are in place at the time relating to Covid-19. Requirements will differ depending on the event type, the location and the providers involved.
In addition, where you are booking travel through Capricorn as part of your attendance at the event, airlines and other travel providers may have policies related to Covid-19. Failure to comply with such policies may result in you being unable to travel with them.
We will do our best to communicate any requirements prior to booking the event, however, please feel free to contact our Events team via phone on 0800 401 444 or via email at events@capricorn.coop for more information.
These requirements have also resulted in an update to our Capricorn Events – New Zealand Terms & Conditions. To read the updated terms and conditions, visit capricorn.coop/terms-conditions
We look forward to seeing you at a Capricorn event soon.
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