What is Motor Trade Insurance – Motor Trade Insurance means that that business and their employees are legally covered whilst driving on the road or working on their customers vehicles or those that the business owns. The flexibility of this policy is key for motor trades to run their business smoothly from a peace of mind point of view.
Who needs Motor Trade Insurance – Whether you are a sole trader or a limited company, if your profession is dealing with cars on a full time or part time basis you will need this policy in some form.
What does Motor Trade Insurance Cover – We can offer policies for Road Risks only or we can offer comprehensive policies. Our policies are tailored to your specific business requirements, so it is important to understand what you are insuring:
– Road Risk Cover – It is a legal requirement for insurance to be in place on a vehicle travelling on a public highway. All motor traders require this at a minimum unless your business does not require you or your staff to drive vehicles on public roads. You can opt for Comprehensive cover, Third Party Fire and Theft or Third Party Only cover.
– Employers Liability – It is a legal requirement for you to hold this insurance if you have employees, this includes apprentices and trainees. Employers’ liability covers you in the event of injury, illness or death to your employees arising from their employment. All of our insurers offer a minimum of £10,000,000 Cover.
– Public Liability – Public Liability Insurance covers the legal and compensation costs you are required to pay if a member of the public makes a claim against your business should you accidentally injure them or damage their property. We can offer cover from £1,000,000 – £5,000,000 Public Liability with the option of an excess layer policy should you require more than £5,000,000.
– Property Damage – This section covers damage to the physical or material assets of the business against an insured event. This will include the building, contents, fixtures and fittings, goods in trust, stock vehicles including customer vehicles on site.
– Business Interruption – This provides cover for financial losses caused by material damage to the property such as from fire or flood.
