The motor trade is a complex and ever-changing industry, with new products and services being introduced all the time. It can be difficult for motor traders to keep up with the latest developments, let alone find the time to shop around for the best insurance deal. That’s where motor trader insurance comes in. This policy is designed specifically for businesses in the motor trade and offers a range of benefits that are not available from other stand-alone types of insurance.
In case you are wondering where you might obtain your motor trader insurance, there are providers online that we have found. You can, with one sure, obtain a competitive premium while still finding a policy that is ideally suited to your business’s needs.
Tailoring an Insurance to Meet Needs
Motor trader insurance policies can be tailored to the specific needs of your business, and can cover a wide range of risks including public and employers’ liability, stock, tools and equipment, premises, and contents. In addition, motor trader insurance can also provide cover for motor vehicles used for business purposes.
Different Types of Motor Trader Policies
There are several different types of motor trader insurance available, so it’s important to choose the right policy for your business.
The most common type of motor trader insurance is road risk only cover, which covers you for any damage that you may cause to other vehicles while driving on the road. This type of cover is typically used by businesses that deal with buying and selling vehicles, as well as those that offer motor trade services such as repairs and maintenance.
If your business involves working from premises, perhaps selling cars or repairing them, then you will need to take out a motor trader policy that includes premises cover. This type of insurance covers the costs of repairing or replacing any damage that is caused to your premises, as well as any contents that are stored there.
If you employ staff, then you will require motor trader insurance that includes employers’ liability cover. This will protect a business and its owners against any claims made by employees who are injured or become ill as a result of working for the business.
There are also several other types of motor trade insurance available, such as product liability cover and motor trade legal expenses cover. These are something to discuss with a broker, online, or down the high street.
Benefits of Motor Trader Insurance
Several benefits come with having motor trader insurance in place. Perhaps the most important benefit is that it provides you with financial protection against any claims that may be made against your business. If you were to be sued by an employee or customer, for example, motor trader insurance would cover the costs of your legal defence.
Another benefit of motor trade insurance is that it can help to protect your business from the financial consequences of any damage that is caused to your premises or contents. If your business premises were to be damaged by fire, for example, you would be covered for repairs or replacement.
Finally, motor trade insurance can also offer protection against the loss of motor trade stock or equipment. If your stock was to be damaged or stolen, insurance specifically designed for the motor trade would cover the cost of its loss.
Motor trader insurance is an essential form of insurance for businesses in the motor trade industry. It provides financial protection against a range of risks, including liability, premises, stock, and motor vehicles. There are several different types of motor trade insurance available, so it’s important to choose the right policy for your business so that you receive the kind of insurance protection that you need.