motor trade insurance

In the event you operate in trades related to cars or the automotive industry there'll likely be times when you need to drive cars that do not fit in with you. For instance moving new stock around in a car dealership or test driving a customers vehicle once you have completed some service or maintenance about it.

cheap motor trade insurance



Driving cars in this manner for business purposes clearly can not be allowed within a normal private motor insurance policy, nevertheless it will be impractical otherwise impossible to incorporate named vehicles onto any type of policy throughout your normal days work.

Because of this a unique form of commercial car insurance policy exists called motor trade road risks insurance. The coverage this policy provides satisfies the street Traffic Act make it possible for the policyholder to 'drive any vehicle' throughout their business, of course, if they decide for social, domestic and pleasure purposes also.

cheap motor trade insurance
A motor trade policy provides the most flexible driving cover available and nearly every scheme may be tailored to a certain motor trade's road risks.

Road risks insurance is calculated differently from private motor premiums where the declared value of a vehicle can be used for rating. In the road risks policy the trader sets that indemnity or amount which he desires to cover himself for driving other vehicles. This could be as low as 5000 for a part-time car or truck dealer or mechanic up to and including hundred thousand to get a valet in the Ferrari Dealership for instance.

A new car lot of prestige cars would need a policy that not only covered the price of replacing a new car if it is wiped off but additionally an extension cord to pay for people test driving the automobile with a named driver. However a used car dealership a home based job or perhaps a mobile mechanic would only need basic road risks cover with what about a tools cover extension. Many road risk policies vary in what is considered basic cover and motor traders should become aware of extra covers including legal protection and windscreen covers, as they would having a normal motor insurance policy.

Motor Traders with premises for example forecourts or shops will demand what is known as a combined motor trader policy. This is just a fundamental road risks policy allowing employees and named drivers to operate a vehicle any vehicle coupled with other risks that a motor trader might face, such as liability and damage to property.

Liability insurance forms the basis of the combined motor traders policy, particularly product and public liability which covers your company against claims from people to which team you have supplied services or parts or who have suffered injury whilst visiting your premises.

If you employ any staff either in workshops, garages offices or out on the path in commercial vehicles or vans, you're required by law to get employers insurance cover in force. This cover protects your motor trade business against claims from employees and staff who might suffer a major accident at the office and claim against you in the courts.

Full combined motor trade insurance coverage offer motor traders buildings and contents commercial property protection plans for garages, workshops, office contents, machinery including car lifts and compressors and tools, shop cover and stock.

Additional options including business interruption insurance policies are available to cover catastrophe situations like a fire where you may lose all your stock, or group personal accident which will cover employees against accident and sickness.

Anyone who works inside the motor industry can put on for any motor trade insurance plan. Policies are designed for car dealers, car valets, parking attendants, mechanics, body repair shops, service garages and motor parts shops, to call just some trades eligible.

Motor trade cover is available to any or all smaller businesses including sole traders without premises and individuals a home based job and also on a part-time basis.

 

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