Am I eligible?
Whether you’re a part time motor trade industry worker or own your business on a part-time basis, a policy can be arranged whatever your interest – be it repairs, tyre and exhaust fitting or even car valet servicing.
From buying and selling cars to carrying out repairs during the weekends, it doesn’t matter what part time hours you work; a motor trade insurance policy provides essential coverage whatever your operations. Covering you to drive your own vehicles as well as those being tested and driven, you can also register the vehicles for the Motor Insurance Database (MID).
Why else do I need part time motor traders insurance?
Have you thought about:
- Any money tied up in a car if it is stolen or damaged?
- What may happen should a claim arise due to any work undertaken by yourself?
- What may happen if you are stopped driving a vehicle for the trade?
What types of Motor Trade Insurance are there?
There are two categories available:
- Road Risk Insurance. Protecting you against any possible claims as a result of any accidents caused by vehicles in your ownership.
- Combined Motor Trade Insurance. Dependent on your requirements, this option generally entails public and employers liability, business interruption as well as goods in transit.
Looking for a part time motor trade insurance quote?
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Points to consider
In order to qualify, you must be a genuine part time motor trader as insurance companies will require evidence of your operations.
- Additional employment. Depending on whether or not your main business is not within the motor trade sector, your policy may not provide adequate coverage to use vehicles in relation with your main occupation e.g. as a plumber required to travel to different locations, an extension may be needed.
- Coverage and advantages. The majority of motor trade insurance policies do not typically offer the expected benefits usually associated with private car insurance i.e. courtesy cars
- Trading from forecourt. Unfortunately, a motor trade road risk insurance policy will not offer coverage against any damage or loss to vehicles kept within business premises and in this instance, additional premises cover may be required.
- Vehicle exclusions. There are certain vehicles that will be excluded from most motor traders insurance policies and others that will have restricted cover. Ensure you check the details of the vehicles your policy covers.
- Vehicle values. Many claims payments that fall within a motor trader insurance policy will be made at the trade value of the vehicle(s).
