Do I Need Motor Trade Insurance?
We are asked frequently about the need for motor trade insurance and what type of business need this kind of cover.
Generally, the rule is that if your business involves your staff driving or handling customers’ vehicles, or even your own, you’ll need some form of Motor Trade Insurance.
Usually, our motor trade clients are full or part-time auto traders, car dealers, mechanics, vehicle treatment companies or recovery agents.
What is Motor Trade Insurance
Motor Trade insurance ensures that staff members and business owners are covered when driving or handling clients’ vehicles or their own.
With private driver insurance, just you and your car are covered. With specialised trade insurance, you are covered when driving any vehicle, as long as it is for work purposes.
Levels of Cover
There are various types of cover available, dependent on your business needs and the level of risk.
Similar to personal car insurance, there are typically three products on offer.
Third Party – This is usually the cheapest option and legally this is the minimum requirement. Third party motor insurance covers damage, loss or injury to other vehicles and people but not you or your own. Your passengers are fully covered.
Third Party Fire and Theft – As well as the areas and points mentioned above, this level of insurance also covers theft, fire or loss to vehicles under your control or in your possession.
Comprehensive – Typically the most expensive kind of insurance. On top of the cover provided in the policy types above, you are also covered for accidental damage to clients vehicles and your own.
Other policy types we can arrange include:
Motor Trade Combined Policy
Road Risks Only
Public & Employers Liability
Directors & Officers Insurance
Insurance Made Easy
At Abbey Bond Lovis we understand that you’re busy running your business, so we want to make the process of arranging insurance easy and hassle free.
We work with the widest range of insurance companies operating in the motor trade sector and so can easily arrange the right protection for clients ranging from small family businesses to large multi-site dealerships.
Our expert team can arrange cover tailored for your business, regardless of whether you sell twenty cars a year, or operate 10 different premises servicing and selling hundreds of vehicles a month.
If you’d like to know more, or arrange a free no obligation quote, contact us via the form below.