How Motor Trade Insurance Protects Your Business
Motor Trade Insurance will cover you if you run a business that involves anything to do with the motor industry. This can include buying and selling new or used cars, repairs and restoration of old cars, servicing and MOTs of cars or motorcycles, mobile valeting or breakdown and recovery services.
The right policy will give you the peace of mind that you’re covered in the event of:
- Accidents involving vehicles that you own
- Accidents involving customers’ vehicles that you are responsible for
- Injury to the public or damage to their property as a result of your business
- Theft, fire damage or loss of your vehicles, contents or valuable business assets such as power tools, equipment, money and machinery
As well as covering you for the collection and delivery of customers’ vehicles, body shop insurance can also provide cover for all your valuable body shop equipment. You can benefit from the peace of mind that your compressors, spray booths and lifting tables are protected and that any portable hand tools are also covered. You can also add on both public and employer’s liability insurance if you need it.
Breakdown and Recovery Truck Drivers
If you are out on the road for your job then you need to ensure you have the right cover. This type of policy covers both your own vehicles including your breakdown truck as well as customer’s vehicles whilst you are working on them or towing/transporting them.
If you deal with vehicles on public roads and have no premises then Road Risks insurance might be the right cover for you. This is designed to provide peace of mind for anyone who is a roadside mechanic or who collects and delivers cars as part of their trade.
Car Dealers and Showrooms
If you buy and sell new or used cars from your business premises then you need the right dealership cover. As well as ensuring that the vehicles you have in stock are protected you should also ensure that any courtesy or demonstrator vehicles are correctly insured. You may also need to cover self drive hire cars as well as your contents, cash and equipment. You should also ensure you have the correct public liability insurance and, if you employ staff, the right employer’s liability insurance.
If you are a car dealer with no premises then a ‘Road Risks insurance’ policy may be suitable. For full or part time traders this covers stock at your home, travelling on public roads to collect and deliver vehicles and customer demonstrations.
Car Importers and Exporters
If you are an importer of foreign vehicles, an exporter of used vehicles or if you import and export equipment and spare parts then it’s vital you have the right cover. Your policy should ideally cover road risks for the collection and delivery of vehicles and both storage and cargo insurance for vehicles and parts.
You may also want to cover stock, equipment and contents at your business premises as well as ensuring you have the correct public and employer’s liability insurance.
Whether you valet cars at your premises or you travel to your customers, you should have the appropriate cover.
If you have premises then your insurance should cover customers’ vehicles when you are working on at your premises. It should also provide cover while you are collecting and delivering them. You should also cover your own vehicles as well as all your machinery, tools and equipment. You may also need public liability insurance.
If you run a mobile valeting service then ‘road risks’ cover may be suitable for you. This offers simple cover for anyone in the motor trade who doesn’t operate their business from a premises.
Garages and Mechanics
Whether you’re a mobile mechanic or you own a garage or MOT station it’s vital that you have the right insurance. Motor trade insurance ensures you’re covered when collecting, delivering, parking or driving your customers’ vehicles
It can also protect you against claims arising from the repair, testing, maintenance or service of a vehicle. You may also choose to add public liability insurance (if you operate from premises) and employer’s liability insurance (if you employ staff).
The right cover can also help you to protect your important business assets against flood, fire and theft. This may include power tools, equipment, machinery, stock and cash.
Scrap Dealers and Breakers
If you are a scrap dealer, breaker or salvage broker, motor trade insurance can protect you and your business. Whether you crush vehicles, dismantle cars or bikes for spare parts or you export damaged vehicles overseas, it’s important you have protection.
Trade cover protects you while collecting or delivering vehicles. It also protects your stock against theft, fire and a range of other risks. It can also include office and cargo insurance and engineering inspections.
You can also add public liability insurance to protect yourself from any claims made by the public for injury or damage while at your business premises. You should also add employer’s liability insurance if you employ any staff.
Trade Plate Drivers + Car Deliveries
Do you deliver vehicles to a customer on behalf of a third party or dealer? If so, you need the right trade plate drivers insurance. A good motor trade policy will ensure that all road risks are covered, including delivery by trailer, transporter or trade plate. It should cover you in the UK and Europe (and worldwide in some cases) and provide cover for the storage of a customer’s vehicle.
You may also need to ensure that your specialist lifting gear is protected as well as any other tools or equipment essential to your business.