For those that make a living in the trade, the appropriate cover is essential to protect you no matter where your area of expertise, be it motor sales, valeting, repairing, paint work or breakdown recovery.
It is a necessity for all those working in this business, even if it’s part time work and is available for all business sizes.
Different policies have different features and benefits all of which offering various levels of cover. You can now compare numerous quotes online and in one place.
Whichever area of the motor trade you work in you’ll need a policy that not only fits your needs and requirements, but also your budget.
Which Motor Trade Policy is right for you?
When choosing cover there are a number of types of cover you are likely to come across.
One of which is “road risk only” motor trade insurance cover also known as “third party only”. A motor trader is expected to be covered by this plan legally if any of the following apply:
•Own an MOT station or garage.
•Offer car wash services, tune engines or work as a vehicle fitter.
•Repair and service any type of motor vehicle.
•Use a customers’ vehicle or their own on a public highway.
•Repairing and restoration including bodywork and paint shops.
•Profit from buying and selling of cars.
It’s worth noting that third party only policies offer a basic level of protection and will cover a motor trader for any damage, injuries or even a fatality involving a third party that is linked to that business.
Another variety of policy is “third party fire and theft” motor trade insurance. This allows the motor trader to be protected by all the points above regarding “road risk only”, but also safeguarding against accidents or fire. It also covers the theft of any vehicle from the motor traders business.
In order to cover all bases motor traders would be expected to take out “fully comprehensive cover” which protects the motor trader for any damage caused to any vehicle that is linked to their business with all the benefits of road risk and fire and theft.
Liability Motor Trade Insurance
For motor traders that allow the public on their place of business while they are working there is a type of cover called “liability motor trade cover”. It also covers those that employ staff as well as motor traders that service, repair or restore vehicles.
Combined Motor Trade Insurance
For those that don’t want to leave anything to chance a combined motor trade insurance plan covers the motor traders entire business. This includes vehicles, cash, tools, liabilities that incur upon the motor traders premises and even motor traders that are working from home.
No matter what your area of expertise is, so long as you work in the motor trade you require a motor trade insurance policy. It is up to you to select the right plan that covers you adequately; however it is sometimes a good idea to get expert advice.
MTI can help you in finding that policy you need at a price you can afford.