Finding comprehensive insurance for your motor trade business is not as simple as just insuring your vehicles. For starters some levels of cover you automatically get with private insurance you will not get with a motor trade insurance policy (windscreen cover is a good example of this), whether you run a valeting business, a garage or a breakdown recovery service, other areas of your business will need to be insured too.
The most basic level of motor trade insurance that is required by law is third party or road risks insurance; this allows motor traders to drive their own or their customers’ vehicles as part of their work. This could be moving a customer’s car while it is being serviced or offering potential car buyers a test drive. However, motor trade businesses will probably also have tools, equipment and premises that are vital to the smooth running of the business.
Premises Insurance for the Motor Trade
Unless you are a part-time motor trader, it’s likely that you’ll operate from your own business premises. This could be a sales forecourt or a repair garage and if anything happened to your building, your business could suffer significant financial loss.
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A premises or buildings insurance policy will protect your building, your contents and your stock against fire, flood, theft and accidental damage. If it includes public liability insurance, it will also protect any members of the public who are injured on your premises.
Motor Trade Combined Insurance
The easiest way to include premises insurance on your motor trade insurance policy is to take out a motor trade combined insurance policy. This will provide more comprehensive cover for each area of your business.
Motor trade combined insurance includes all the main features of a normal motor trade insurance policy, including third party liability, road risks protection and demonstration, but also includes additional features. If you have made a considerable investment into tools or machinery, for example, it is worthwhile to protect anything that would be expensive to replace or cause a serious disruption to your business if it were damaged.
Motor trade combined insurance can include:
• Protection for your business premises
• Contents insurance for machinery, fixtures and fittings
• Cover for your tools
• Liability insurance (employer’s liability and public liability)
However, one size doesn’t fit all and that’s why good insurance brokers tailor their policies to the needs of each individual motor trade business. Unicom understands the complexity of motor trade businesses and assesses each application individually to create the perfect policy.
