Motortrade Insurance

Motortrade Insurance

Motor Trade Insurance is needed by anybody that has a job or career that involves working with motor vehicles, such as MOT test centres, repair shops, and car dealers. It is important to have good motor trade insurance to keep you safe from liability as the insurance policy protects the business along with all of your assets by covering your financial and material losses. When it comes time to do the actual purchasing of Motor Trade insurance, keep in mind it is important to find the personalised coverage that your business needs.

Types of Insurance

There are two types of basic insurance policy that you should centre your search on and they are Road Risk Policies and Combined Policies. One of these polices will fit your business needs. Along with the basic coverage that you get to protect your business you also have options that you can add on. Options such as: engineering inspection liability, business disruption (you could be owed losses if for some reason your business has to stop operating for a short period of time), loss of MOT licence, sales’ displays, transported goods, and many others. Motor trade insurance also offers employer’s liability insurance (this protects your employees). If you want to further increase the protection of your business you should considering Legal Expenses Insurance.

Who needs Motor Trade Insurance?

Along with the normal businesses and vehicles that you would expect to need Motor Trade insurance, there are additional ones that you might not every think would need it. Specialist risk policies are needed for commercial vehicles that are registered for road use and can carry up to sixteen passengers. Even if theses vehicles are used for pleasure and not business use they have to be insured. Businesses that might not think to consider Motor Trade insurance include valet parking companies, ice cream truck companies and transport vehicles just to name a few. Take the time to do the research for your business. Even though you do not think you need it your business could be fined heavily if you start work without the proper coverage.

Buying MotorTrade Insurance

If you are not sure what kind if any motor trade insurance that you need remember it is better to be safe than sorry. There are companies that do nothing but specialise in getting you the insurance that you need to protect your company. Most of these agencies call themselves insurance brokers. With the advent of the Internet, however, it has become a lot easier to research and choose the policy that is just right for you and your business. It is important that you find a company that is willing to work with you. It is normal for you to have questions about your insurance coverage. If the company that you are leaning towards brushes off your questions then this should be a red flag for you to give up on them and move onto another company. Your business is important to you and so is your hard earned money, a good motor trade insurance company will understand this.