Running your own motor trade business can be extremely time consuming, so the last thing
you want to worry about is whether or not you have the right traders cover.
After working so hard to create and establish your motor trade business, the last thing you want to
do is to put it all at risk by not having the correct cover in place. Whether you’re a full time or part
time motor trader, it’s helpful to know what types of cover are available for your business, and
which one is right for you.
The level of cover, and what kind you need, will depend on the size and type of company you run.
This article will cover and explain the main types of polices for motor traders.
Liability Cover Policy
There are two types of liability cover; Public Liability and Employers Liability.
Public liability covers you against claims made by the public if they were to suffer an injury on
your business premises or as a result of your businesses services or products.
Employer’s liability is a legal requirement if you have any employees. This type of cover will
protect you and your business from any claims made against you by employees, as well covering
you for negligence, poor standard of work, or other services carried out by your business.
Motor Traders Road Risk Insurance
Road risk insurance is the most basic type of cover and is ideal for individuals and smaller
businesses working in the motor trade. What you should know is that, similar to standard motor
insurance, road risk insurance can be split into three difference categories; third party only, third
party fire and theft and comprehensive. Each of these categories can be added to your policy if you
speak with your insurance broker.
Traders Combined Insurance
Traders combined insurance is ideal for larger motor trade businesses operating from premises such
as car dealers, repair garages and MOT/Service centres as it is the most comprehensive form of
motor trade cover and protects just about every aspect of your business including any form of loss
or damage suffered by your company.
What most motor traders don’t know is that you can add features to your standard insurance policy
to suit your business, such as; Demonstration cover, Split indemnity, Stock of vehicles and more.
Get in touch with Think Insurance if you would like more information on our Motor Trade Insurance
Or fill in our quick and easy online form for a quote today!