Motor Trade Insurance - Who Is It For?
Motor Trade Insurance is the name given for the type of insurance that is available for a person who trades, repairs and maintains vehicles
. The individual must own and operate a business that profits from trades that may involve the driving of a customer's car.
This would be an element of the service and so certain insurance is required. This is to cover anything occurring during the time period the car is under the care of the business. It covers the owner of the business and any employees. It also gives reassurance to the car owner that the vehicle is in safe hands.
There are many benefits to this type of insurance for all concerned in the motor trade. The insurance can accommodate most circumstances to provide a worthwhile safeguard. To qualify to apply for motor trade insurance the age limit is 23 for business owners and employees. An employee younger than this will not be eligible for cover. There are different levels of insurance available for the operations of a business. This is dependant on the size of the business and the services it offers. A car showroom that offers test drives may only need Demonstration cover. A large, busy servicing garage will need more and varied amounts of insurance cover.
An insurance policy can include actual named drivers or any driver with your permission. These are factors that need consideration when searching and comparing trade insurance. If you have a personal car insurance policy with or without a no claims bonus then this can be incorporated. Each policy will contain terms, conditions and exclusions to be noted. It is just a case of finding the ideal motor trade insurance that suits you and your car trade connected business. Being fully covered for all eventualities is the best way to ensure customer confidence, time and money.
Having the correct insurance will allow your business to grow while limiting your liabilities. You can also allow family members and friends to drive for you in any required situations, such as illness or injury. Apart from public liability cover, a policy can also include cover for secondary businesses. It can additionally provide cover for any work undertaken and arising out of your trading. It is essential in order to operate a viable company that adequate insurance protection is in place.
Motor trade insurance is invaluable to many car connected services including valet service personnel and car mechanics. Vehicle recovery and salvage businesses also utilise this type of insurance in their day to day work. There is plenty of choice for all vehicle trading activity to be insured. Do not forget that there will be an excess to pay on all claims and clauses about trading on a business premises. Certain things that are normally included on a normal car insurance, like windscreen cover is often not included. It's wise to check the small print before purchasing any insurance. Getting the right cover, at the right price, with exclusions you can work around is the aim.
by: Neil Anderson
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