Motor Trade Insurance
The motor trade insurance policy is suitable for sole traders & firms operating in the motor trade either on a full or part time basis, who require cover for their own and customer’s vehicles, whilst being driven on the road, or parked at their home address or their trade premises. It allows the eligible drivers to drive any motor vehicle for the purposes of their motor trade business. Permanently owned vehicles may be driven for social domestic and pleasure purposes.
Cheap motor trade insurance
Road risks insurance and motor trade commercial combined policy
Insurance for motor traders from the part-timer to large motor traders we have motor trade insurance policies to suit your requirements. If in addition to the motor trade road risk policy you also require insurance cover for your premises please let us know as we can also provide a combined policy to cover both risks.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Every type of business, whether small scale or large, requires insurance. The need for insurance arises in businesses because these are run under risks. To provide cover for losses, it is necessary that the businessmen buy an appropriate type of insurance policy. Insurance also holds importance in motor trade business. Motor trade business involves dealing with cars. It encompasses every aspect of a car; be it purchase of a car or repair of a car.
The basic purpose of motor trade insurance is to provide for damages caused to the vehicles, third party or employees of the motor trade business during the course of the business. Today, it has become very easy to buy this type of insurance because of the large number of insurance companies and agents available.
A motor trade business owner can simply ask for a quote from the commercial insurance companies or agents. Once the owner is provided with different quotes, they can be compared to find out which cheap motor traders insurance policy suits the owner. The business owner can then buy the policy which offers maximum benefits.
Before buying this type of policy, the business owner must make sure to check what is included in the policy and what is excluded. The nature of this type of policy is commercial and so there are many things which may not be included by most of the insurance companies. The motor trade business owner must be aware of all these.
Motor trade insurance can be categorized into three types of insurance plans as follows:
- Motor trade road risks policy-This policy is available for all types of motor traders. The basic aim of this type of policy is to provide for damages when the vehicle is on the road. The policy also secures the vehicles when they get damaged while they are parked at the address of the policy holder or at the address of a business partner. The name and address of the business partner have to be mentioned in the policy contract.
- Liability insurance- This type of motor trade insurance is the one that provides protection against damages arising out of liability factors. Public liability insurance provides cover against damage to a third party because of an accident with the vehicle which is insured. Employer’s liability insurance compensates the employees for any injuries that the employee may face during the operation of the business. Sales and service policy protects the policy holder against injury or damage to any body part during sale or supply of motor vehicles, sale and supply of any motor spare parts or during testing, repair or maintenance of the vehicle.
- Comprehensive insurance- This type of policy covers many aspects of the business. It provides cover in case of accidents and other road mishaps. It covers the business premises, equipment, machinery, sales and services and employer’s liability as well. This is the best type of policy but is quite expensive as compared to the other policies.
Cheap motor trade insurance requires the business owner to pay a specific sum to the insurance company. This sum is called premium. The amount of premium to be paid depends on the type of policy purchased. The owner usually has to pay a fixed amount of money every month to the insurance company. In addition to the basic policy, the business insurance companies may also sometimes offer bonus and other benefits to the policy holder. This depends on the company.
Summary
Motor trade insurance is purchased by motor trade owners as a precautionary step to protect themselves against losses that may take place in their business. These losses are unforeseen and so the owner has to provide cover for them.
