Motor Traders – Getting the Right Cover
The motor trade covers a wide range of businesses and just as one may differ greatly from the other, so too does the type of motor trades insurance required.
A car valeting or repair service will have different insurance needs than someone operating in used or new motor sales.
However, what they will have in common is the need to have the right cover in place, no matter what size their operation is or whether they are working part- or full-time.
Of course, certain areas of the motor trade will prioritise certain features of a motor trades insurance policy over others, so comparing different types of cover is essential.
Comparing motor trade insurance quotes online is the quickest and most effective way to get an idea of what’s out there.
It will give you a comprehensive guide as to what levels of cover are available, what extra features each may offer and which are most relevant to your line of work.
Finding the right motor trade insurance policy
There a number of factors to take into account when looking for a motor trades insurance policy – your budget, the needs of your business and those of your customers.
You’ll come across a number of different types of motor trades insurance when comparing quotes online.
One of the most common is road risks only. This is similar to the third party only cover which is offered by car insurance providers.
It is the minimum level of cover you are permitted to have by law if you operate a business in the motor trade.
So, if you repair or service vehicles, own an MOT station, carry out bodywork or painting on customers’ vehicles, wash or valet cars or buy or sell vehicles, you will be required by law to have motor trade insurance.
Third party road risks cover will only cover you for damage, injury or death caused to a third party as a result of your business operations.
You can take out an added level of cover with third party fire and theft which will protect you if your or your company’s vehicles are stolen or damaged by fire. In some case, you can also have your own private vehicles included on the policy.
If you want to protect all vehicles connected to your business from all types of damage, as well as those of your customers and other third parties, you may consider taking out fully comprehensive motor trades insurance. This provides all the features of basic road risks cover, as well as protection against fire and theft and can also cover injury, illness or death to you or those operating vehicles connected to you business.
Liability Motor Trade Insurance
The two main types of liability insurance available are employer’s liability and public liability. If you have any staff working for you, whether part-time or full-time, you are required by law to have employer’s liability insurance
in place. You should also seriously consider taking out public liability cover of you regularly deal with customers and members of the public.
Liability insurance will protect you against claims brought against you by employees or members of the public if they are injured or fall ill as a result of your business operations.
Combined Motor Trade Insurance
You’ll find by comparing motor trades insurance online that you can have all the above features contained in one combined motor trades insurance policy. You can have road risks cover, liability insurance and a host of other extra features to reflect your own area of the motor trade all in the one policy. Some of those extra features may include cover for tools, equipment and cash as well as you business premises and its contents.
Nobody will know your business better than you, but when it comes to motor trades insurance, we can offer you expert advice and help you find the right cover, no matter what line of work you’re in.
For the right cover at the right price, compare motor traders insurance online at www.MotorTorque.co.uk today.
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