Insurance 4 Insurance

Motor trade insurance provides protection for anyone working with motor vehicles; from car dealerships to MOT test centers. While policies are tailored to your specific business needs, cover can be divided into two basic categories: road risk and combined policies

Motor trade insurance is designed to cover people who actively work with cars, people such as car dealers, mechanics etc. The policy is designed to cover you, your vehicles and the public. Then there is a combined policy which is comprised of road risk insurance, liability cover and it usually also includes the building you work from and business interruption.

Under most standard road risk policies for motor trade insurance you will not be insured for vehicles at the business premises. Insurance companies will usually provide cover for this under a combined policy.
 
A motor trader is anyone who deals with motor vehicles in relation to their business or just as an additional income such as car salesmen, mechanics, valeters etc.

Motor traders pose a different type of risk and therefore need specialized insurance policies. The basic insurance policy is just road risk insurance which will cover you to be on the road, it is the basic insurance that will allow you to legally trade.

All motor trade insurance policies will exclude certain vehicle types. Make sure the policy you have covers the vehicles you are dealing with - a list of the vehicles not covered is available from all insurers. This approach can come as an unpleasant surprise where policyholders have assumed they would get the amount that the car was worth when they first took out the insurance, regardless of the car’s actual market value at the time of the incident giving rise to the claim.

Most policyholders assume that their insurance policy will enable them to replace with a similar vehicle a car that has been stolen or damaged beyond repair. When a firm values cars that have been permanently modified, it may be appropriate to look at the closest equivalent vehicle, and to then make adjustments for the quality of the modifications.

Many insurers will not provide a protected no claims bonus in the motor trade insurance industry, it is simply because motor traders tend to have access to many vehicles and it is impossible to be able to protect the no claims bonus as they may have multiple accidents.

Once we have found the cheapest ‘book’ price we will then get in touch with the insurer directly to see what further discount we can negotiate.

Motor trade insurance provides protection for anyone working with motor vehicles; from car dealerships to MOT test centers. While policies are tailored to your specific business needs, cover can be divided into two basic categories: road risk and combined policies

Motor trade insurance is designed to cover people who actively work with cars, people such as car dealers, mechanics etc. The policy is designed to cover you, your vehicles and the public. Then there is a combined policy which is comprised of road risk insurance, liability cover and it usually also includes the building you work from and business interruption.

Under most standard road risk policies for motor trade insurance you will not be insured for vehicles at the business premises. Insurance companies will usually provide cover for this under a combined policy.
 
A motor trader is anyone who deals with motor vehicles in relation to their business or just as an additional income such as car salesmen, mechanics, valeters etc.

Motor traders pose a different type of risk and therefore need specialized insurance policies. The basic insurance policy is just road risk insurance which will cover you to be on the road, it is the basic insurance that will allow you to legally trade.

All motor trade insurance policies will exclude certain vehicle types. Make sure the policy you have covers the vehicles you are dealing with - a list of the vehicles not covered is available from all insurers. This approach can come as an unpleasant surprise where policyholders have assumed they would get the amount that the car was worth when they first took out the insurance, regardless of the car’s actual market value at the time of the incident giving rise to the claim.

Most policyholders assume that their insurance policy will enable them to replace with a similar vehicle a car that has been stolen or damaged beyond repair. When a firm values cars that have been permanently modified, it may be appropriate to look at the closest equivalent vehicle, and to then make adjustments for the quality of the modifications.

Many insurers will not provide a protected no claims bonus in the motor trade insurance industry, it is simply because motor traders tend to have access to many vehicles and it is impossible to be able to protect the no claims bonus as they may have multiple accidents.

Once we have found the cheapest ‘book’ price we will then get in touch with the insurer directly to see what further discount we can negotiate.