There are several different categories of cover that a club might find worthwhile. The descriptions below are brief and everyone will understand that insurance policies contain in their small print details of situations that are not covered or where special conditions may apply – such details always need to be checked before signing up to a policy.
Public Liability. To compensate members of the public who suffer loss or injury as a result of normal club activity.
Employers’ Liability. To compensate employees (in this context, this includes volunteer workers) who suffer loss or injury as a result of their work for the club.
Product Liability. To compensate those who suffer loss or injury as a result of a shortcoming or failure of a product sold by the club.
Buildings and Property. Provides cover for a club’s static property, such as a club house, and its non-portable contents in the event of fire or break-in or a natural disaster, such as flood or gale damage.
Material Damage. Provides cover for a club’s portable possessions, such as regalia stocks, display equipment, trophies, archives, computers against ‘all risks’ (subject, inevitably, to various caveats).
Money. Cover for cash.
Libel and Slander. To compensate those libelled or slandered by the club.
Professional Indemnity. To compensate those disadvantaged by the failure of a club official to fulfil an obligation or provide a service to a satisfactory standard.
The FBHVC insurance scheme for clubs
The FBHVC scheme is intended to provide clubs (especially smaller ones) with affordable Public Liability cover: that’s the cover that is most important for any organisation that actually does anything and provides funds either to fight unreasonable claims, or to settle justified ones.
In addition to £5,000,000 Public Liability cover, those who take out a policy under the FBHVC scheme also get £750 worth of Material Damage cover, £200 worth of Money cover (both extendable at modest rates) and £250,000 Libel and Slander cover. Employers’ Liability (which any club that is a registered company should consider even if they have no paid employees) can be added at a minimum premium of £50. Liability cover is available, and it includes cover for selling (but not making) safety critical parts. Building and Property cover is also available, as is Professional Indemnity.
Product Liability cover is expensive, and doubly so if it is extended to cover sales to North America. It is only applicable if a club sells products that – if they failed – may result in injury or loss. Any club that has asked about product liability this insurance will know how expensive it can be – the minimum premium on the FBHVC scheme, for instance, is £500. Clubs selling vehicle parts will probably see this as an essential investment. On the other hand, it is disproportionate if the club’s only ‘products’ are regalia. Our brokers, have persuaded underwriters to provide Product Liability cover for regalia sales for a premium of just £21 (inc IPT) a year when purchased with the normal Public Liability cover. There is an excess of £250.
Following a question, we have had confirmation from the underwriters that the policy’s Public Liability can be extended to cover club events held outside of the territorial limits when some of the organising team are not UK residents. Aston Scott do however need to be advised of the individual(s) and there will be a small additional premium. Please note the scheme policy does not provide cover for events wholly organised and held outside of the territorial limits. In these instances the foreign sections / members need to source their own local cover. If you have any queries regarding the above Aston Scott are more than happy to help
The foregoing is intended only as a guide. Those taking out any insurance should satisfy themselves that the cover they are purchasing is appropriate for their needs. FBHVC receives no commission from the brokers, Aston Scott Limited.
Summary of Cover for Standard Club Policy
For social events, meetings, shows / displays, participation by the insured club in events organised by other clubs.
Standard Cover includes
£5,000,000 Public Liability
£250,000 Libel & Slander
£750 Club Property*
*These limits can be increased at modest cost.
Options at extra cost
£10,000,000 Employers Liability
£5,000,000 Regalia (Product Liability cover for club regalia etc.)
£5,000,000 Product Liability (for vehicle parts)
£5,000,000 Exporting to the USA
Aston Scott Ltd is appointed to and has strong links with the Federation of British Historic Vehicle Clubs. They offer bespoke insurance products from ‘A’ rated insurers for specialist vehicle clubs, associated motor traders and museums.
They may be contacted at: The Courtyard, Eastwood Road, Bramley, Surrey GU5 0DS. Tel: 01483 899495. www.astonscott.com