Selling cars seems like an easy way to make money, whether you are considering opening a car sales dealership, full time or part time on weekends, motor trade insurance is a must.
Selling cars may mean that you will be required to drive customer vehicles before purchase to determine if you want to buy them. Your personal auto cover does not cover you for this and you will need road risks cover.
A benefit with road risks cover is you can include multiple drivers. So if you have a reliable staff member who has been with you for a while, you can include them as a driver – taking the burden off yourself when it comes to purchasing vehicles for resale.
Always bear in mind when taking road risks cover that you and your driver should generally be over 25 years old and have no criminal convictions. Also having no claims bonus on your personal auto cover can lower the premiums considerably as you will be considered a low risks driver.
When a prospective buyer arrives to look at a vehicle they may expect to drive the car and determine if they want to purchase it or not. Not being able to offer them this service can be detrimental to your business and can lose you a lot of customers.
Demonstration cover gives you the ability to offer customers a chance to test drive any vehicle before purchase.
Another important consideration is liability cover. Accidents can happen at any time and a customer visiting your premises and falling can cost you dearly in medical bills and loss of income. Being prepared can save your business a fortune in the long run.
Combined cover is a good alternative for any business who has intentions of selling cars – you can cover your building, road risks, demonstration cover, liability and so much more under one plan – making it easy to budget for and only one premium to pay.
The decision to open a car retailing business is an exciting prospect but if you get all your cover before you start then you are reducing the amount of things that can go wrong.
Not having to worry about theft or accidents can give you peace of mind and give you more time to concentrate on selling. This is why motor traders insurance is a must when you are going into car sales.