Motor Trade Insurance Quotes
What Is Motor Trade Insurance?
Motor Trade Insurance is a type of insurance that covers businesses and their staff, who drive or work on customer vehicles or vehicles owned by the company. Since the potential coverage is considerable, flexibility is among the most critical aspects of these policies.
Motor Trade Insurance, which is also known as Traders Insurance or Traders Car Insurance, provides full cover for those in the motor trade, such as if you're buying or selling vehicles independently or commercially. We can also arrange combined policies to not only include your motor trade insurance, but your premises cover also.
Insurance Factory understand how important the right insurance is for your vehicles, your staff and your business which is why we would like to help find you a policy that covers all of your requirements and is suitable for your budget.
With a panel of leading motor trade insurers, we can arrange cover for risks including:
- Full time traders
- Part time traders
- Road risk
- Collection and delivery cover
- Mechanics
- Valeters
We understand that every business is unique and with that comes individual requirements, so whether you have a single vehicle to a whole fleet, we could arrange cover to suit you and your business - keeping you trading and your vehicles protected is a priority!
What type of businesses need Motor Trade Insurance?
You may wish to consider Motor Trade Insurance through Insurance Factory if you have a car-valeting company, operate a scrap yard, operate a vehicle-restoring business or a repossession company. In general, any situation where you or your customers’ vehicles come under the care, custody and control of your employees, it’s likely you’ll need this type of cover.
If you run a garage, it is likely that you will need a policy that can be used for any member of staff, including recently hired employees to drive any customer vehicle. Even if you run a mobile tyre-replacement service and do not drive customer cars, you may still need some form of motor trade cover. The policy is there to protect your business against any accidental damage or problems that could arise from mechanics working on a vehicle.
It is important to note that you may need this type of cover even if you’re not running a limited liability company. For example, if you’re self-employed but still responsible for vehicles belonging to other people, Motor Trade Insurance is always a wise investment.
Motor Trade Insurance cover can include;
- Car dealer at-home policy
- Minder insurance policies including for trades such as repairers, valeters, repossession agents and vehicle transporter companies
- Road risk only cover available
- Full trader policies for car dealers at premises, and vehicle importers and exporters
- Motor Traders aged 25 or over
- Criminal convictions considered
- Cover available for traders specialising in sports, prestige and imported cars
- Combined Traders Insurance can include;
- Buildings Insurance
- Contents and Stock Insurance
- Machinery and Plant cover
- Business equipment including tools
- Employer’s liability
- Public liability
- Business Interruption
What You Need To Know Before Getting Motor Trade Insurance
To qualify for motor trade cover, you need to be a full or part-time motor trader. We may ask for proof of this before you purchase insurance and here are a few pieces of information you should consider before purchase:
Vehicle value
Claims payments under Motor Trade Insurance are made at the trade value of the vehicles involved. Note that if you have paid retail price for these vehicles, you may find that the pay-out doesn’t always cover the full cost.
Exclusions
Motor Trade Insurance may exclude certain types of vehicles, so it’s best to check the policy carefully and make sure that it covers the vehicles you are dealing in before purchasing it.
Trading from premises
A road risk insurance policy might not cover against loss or damage to vehicles that are kept at business premises, therefore if you would like to protect your business against this, you may need additional Premises cover. It is important to note that most insurers will not class your home address as business premises.
Other occupations
If you’re a part-time motor trader and your primary business is another occupation, a Motor Trade Insurance policy may not cover use of your vehicles in connection with your main job. Insurance Factory can provide you with options and help find a policy that’s right for you and your budget.
Does Motor Trade Insurance Cover Its Holder To Drive Any Vehicle?
Historically, private car insurance policies covered drivers who wanted to drive other vehicles on a third party basis. But today, it’s becoming rarer. Some drivers have opted to purchase Motor Trade Insurance due to it offering more flexibility by allowing ‘any vehicle’ cover.
Legitimate motor trade businesses qualify for Motor Trade Insurance and it’s important to remember that even if you get a motor trade policy, it will only apply to your vehicles, together with any vehicle that’s in your care, custody or control for the purpose of the business. Any vehicles covered by a motor trade policy that are also used by your employees in a private capacity can be covered as well - however it is important to make sure that this condition is not excluded.
Do I Need Motor Trade Insurance or Motor Trade Fleet Insurance?
Motor Trade Insurance provides cover for businesses in the motor trade that handle, buy or sell vehicles.
Motor trade fleet insurance, on the other hand, provides cover for anything ranging from a couple of cars to a large fleet of vehicles. This type of insurance is quite flexible and its terms depend on the number of cars you would like to insure. It can cover your vehicles and contents. By purchasing a Combined policy, you can include your premises as well.
Get a Quote for Motor Trade Insurance
If you can't see your business requirement listed above, give us a call and discuss your requirements with one of our operators.
Choose Insurance Factory for Motor Trade Insurance
For more information or if you can't see your business requirement listed above, please give us a call and discuss your requiremetns with one of our operators.