Your guide to motor trade insurance

Posted on 28 July 2011 by Tony Santos

Whether you’re operating a small business out of your house or you’re a massive company employing hundreds of people from professional premises, you’ll always want to be protected by a comprehensive insurance package. Of course, if you’re running prestige or import vehicle firms, a luxury sports or vintage car dealership or you simply work in the trade of selling, servicing, manufacturing, repairing, transporting, or financing vehicles, you need motor trade insurance. By getting trade insurance quotes from Staveley, you could really protect your business.

Designed to cover your company against unexpected losses, motor trade insurance includes – but is not limited to – fire, liability, theft and accidents. Naturally, it is seen as prudent to choose the right coverage as you’ll hopefully be able to minimise any premiums and maximise your coverage options in the long-term.

It is often good to invest in an insurance broker you can trust in this situation. While it may cost you more in the opening weeks, it will save you a lot more over time. Insurance brokers can secure better rates due to the volume of insurers that they liaise with. Buying power also allows them to use expertise to procure better coverage at lower prices.

However, be sure to understand that not all motor trade policies offer flexibility as a standard feature, so you ought to make sure that a policy has adequate coverage for a business. There are a number of classes of motor trade insurance. The main one is road risk insurance. This offering covers vehicles that belong to a company or are under control of the custody of the business.

Nonetheless, road risk insurance does not cover private vehicles of directors; despite this, it can cover pleasure and social domestic use and non-employee drivers, though this is not a standard practice; you need to let your broker know if you want this coverage. Policies often come with a maximum amount payable while trade plates, which are used in accordance with regulations within the motor trade, need to be declared for the vehicles to be insured.

Consider other additional policies to tack onto your overall insurance. These include business interruption, property damage, loss of money and loss of goods in transit. Whatever you choose, be safe – keep your business protected with motor trade insurance.

Categorized | Car Insurance, Car News, Car Tips

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