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Motor Trade Insurance

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Motor trade insurance, also known as traders insurance, is a type of insurance policy designed specifically for businesses involved in the buying, selling, repairing, or maintenance of vehicles. It provides cover for the unique risks associated with these activities, such as driving customer vehicles,road risks, equipment damage and premises liability,
 
Key Features and Coverage:
  • Road Risks:
    This is a core component of motor trade insurance, covering damage or injury caused while driving customer vehicles or your own vehicles as part of your business. 
     
  • Equipment and Premises:
    Policies often cover equipment used in the business, such as tools and machinery, and protect against damage or theft to the business premises. 
     
  • Liability:
    Motor trade insurance can provide liability cover against claims arising from accidents or incidents involving your business, including customers and employees. 
     
  • Third-Party Liability:
    This covers damage to property or injury to others caused by you or your employees while operating vehicles. 
     
  • Fire and Theft:
    Some policies include cover for fire damage, theft, and malicious damage to vehicles or equipment. 
     
Types of Policies:
  • Road Risks:
    This is the minimum level of cover needed for those who drive vehicles in the course of their business, whether they are their own or customer’s vehicles. 
     
  • Combined Policies:
    These offer a broader range of coverage, including road risks, equipment, and premises. 
     
Who Needs Motor Trade Insurance?
  • Vehicle Dealers: Businesses that buy, sell, or trade vehicles.
  • Mechanics and Repair Shops: Businesses that repair and service vehicles.
  • MOT Test Centers: Businesses that conduct MOT tests.
  • Valeters and Detailers: Businesses that clean and maintain vehicles.
  • Breakdown and Recovery Services: Businesses that offer roadside assistance.
  • Businesses that carry out vehicle modifications or customisations

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