Scrapyard and
Breakers
Insurance

The insurance we provide is always tailor-made to the individual requirements of your business needs, and could include insurance for:

• Employers Liability – this is compulsory insurance if your company has more than one director and/or has PAYE employees and/or casual or voluntary labour. If you are an employer with a scrap yard business (or any other business), you are legally obliged to have Employers’ Liability insurance. You can be fined up to £2,500 for every day you do not have the appropriate insurance. Employers’ liability insurance covers the cost of compensation and any associated legal fees.
• Public Liability – this covers the cost of claims made by members of the public for incidents that occur in connection with your business activities. Public liability insurance covers the cost of compensation for; personal injuries; death and loss of or damage to other people’s property.
• Engineering Inspection/Insurance – Compliance with the law can get complicated. Ensure you are fully compliant with relevant health and safety legislations. This will minimise claims losses and protect against reputational damage. In addition, breakdown insurance and loss/damage to specified items of plant and equipment can be included, subject to a full maintenance agreement being in place.
• Personal Accident – Cover for named individuals against accidents which result in accidental injury, death or permanent disability, protecting their income and helping to potentially avoid an otherwise expensive Employers Liability claim.
• Directors Liability – As a director, the law says you have unlimited liability to your company, shareholders, employees, creditors, the public and to certain government agencies, the Health and Safety Executive being just one example. Directors Liability is paid for by your company and it protects all of the directors personally, yet it is not classed as a benefit in kind.
• Motor insurance – Most businesses of this nature operate vehicles which often cannot be insured ‘online’ quite simply because of the nature of goods being carried. Wherever possible we try and cover the vehicles you’ve got under a Fleet insurance policy because in our opinion this provides far better premiums and cover than insuring them separately.

The cost of scrapyard insurance depends on so many factors, but the main ones are what work you do, what your turnover/wage roll is and what your trade processes are, plus whether you have had any claims. We have clients paying us premiums from £1,000 to £100,000 per annum.