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5 Important Loss Prevention Tips for Mechanics

Posted Nov 7th, 2018 in Media, General, Insurance Tips, Commercial Insurance, Did You Know?, In the News

Being a mechanic is a viable job, you’re not going to run out of cars to fix. If you’re a mechanic and own your own business, it’s important that you know how to protect yourself from losses. 

5 Important Loss Prevention Tips for Mechanics, Youngs Insurance, Ontario

Five Small But Important Loss Prevention Tips for Mechanics

Below we’ve highlighted some essential tips for mechanics on how you can prevent business losses!

#1 Create a Safe Space

It’s important to have a waiting area for customers so they are not wandering around in the service area as there are so many potential losses waiting to happen such as a slip and fall. 

#2 Keep Good Records

Keeping thorough records and paper trails are very important for mechanics (and their business).  Have detailed work orders and make customers sign off on them so if there is ever a dispute, you have the paperwork to back you up.  You should also track any recommendations you make for customer's car that they decline.

#3 Keep the Premises Well Lit

Your business premises should be well lit, especially if you keep cars overnight.  Ideally, it would be best to keep cars inside but if that’s not possible, then keep overnight vehicles in an enclosed, locked area. 

#4 Limit Cash on Hand

Ensure you don’t keep a lot of cash in your register if customers regularly pay cash.  Do bank deposits often so in the event of a burglary, you won’t be out too much money on your business property.

#5 Know Your Inventory

As a mechanic, chances are you have a plethora of tools, car parts, and stock.  It’s important to keep an up-to-date and accurate inventory so that if you do experience a loss, your insurance provider can serve you better and the claims process will be a lot easier, too.

We hope you found these business tips helpful!

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