As a qualified driving instructor you are of course aware that standard car insurance is insufficient for your more specialist needs. But is your driving school insurance currently robust enough to protect you and your business against all the risks that it might face? To help you determine whether you need to take another look at your policy, here we take a look at some of the most common risks that both independent driving instructors and driving schools might face, and what type of insurance will protect you against them.
Damage to your vehicle/ fleet
For anyone who drives a car, an accident that results in significant damage to the vehicle can be a big hindrance and a major concern. But as a driving instructor, having your car off the road for even a short time can be a huge financial drain and can affect your ability to carry on business as usual. For this reason it’s essential that you have insurance that covers you for the cost of any repairs or for the full value of the car without any massive excess. You should also consider insurance which provides for use of a replacement vehicle. Larger driving schools may be able to get a good deal on fleet insurance for all their vehicles. Your insurance policy should of course be valid for dual-control vehicles.
Damage to another vehicle/ injury to its occupants
Although you yourself have a large amount of driving experience, the fact that your vehicle is being driven by individuals yet to gain their full license may mean that there is a slightly increased risk of being involved in an accident. In addition to your vehicle, yourself and your learner driver being at risk, other road users may also suffer injury or damage to their vehicle as a result of an accident caused by vehicle. Having valid driving school insurance will of course not prevent these risks, but it can safeguard your business from the financial consequences of such incidents.
Compensation claims pursued against you by members of the public
It’s not just road users who may potentially be at risk through your actions or those of your student. Pedestrians may be affected by an accident, and even homeowners by the side of the road could suffer damage to their property if your car leaves the road.
Compensation claims filed by employees and former employees
If you operate a driving school which employs other driving instructors, you will need employer’s liability insurance as a mandatory legal requirement. Having such insurance is not just compulsory though, it is also highly useful in the event that one of your employees makes a compensation claim against you. This might be the result of utilisation of unsafe vehicles, or it may even result from an accident that takes place within the office itself.
Damage to your premises
Next to your fleet of dual-control vehicles and your experienced team of driving instructors, your premises are the most important part of your business and their worth taking steps to protect. Fire, flood, theft and vandalism are some of the most common risks to your business premises, and these could result in costly downtime and repairs. Covering your business premises as part of a comprehensive driving school insurance package won’t stop such incidents from occurring, but it will mean that you are protected from the potential financial consequences and can get up and running again without any lengthy delays.
Personal injury
If you yourself are injured, whether during the course of a working day or outside of it, it can not only be distressing but costly. Personal injury insurance can provide you with the money you need to support yourself until such time as you’re fit to work again.
If you have any questions about driving school insurance, get in touch with Park Insurance.