Motor trade insurance is designed to protect people in the vehicle industry from loss or damage relating to their business. Many people assume it just covers the vehicles, but it can be far more wide-ranging than that.
A motor trade policy combines a number of protections under a single umbrella, including things such as public liability insurance, employers’ liability insurance, property insurance and road risk insurance.
What businesses are Motor Trade Insurance designed for?
Motor trade policies are designed with vehicle traders and repairers in mind, with a range of coverage options available to protect your business assets and customer base.
A combined motor traders policy or road risk only policy are two options regularly available from underwriters.
Many insurance providers also offer dedicated coverage options for part-time traders, traders working from home, mobile traders, and specific automotive businesses.
Please speak to PHP Insurance whereby we can work with you to assess your bespoke business requirements.
Combined motor traders insurance is usually advised instead of taking out individual policies, with tailored contracts more comprehensive, more affordable, and generally less risky.
There are two main types of motor trade insurance policy.
- Road Risks insurance is designed for full or part-time motor traders who need cover from the common road risks which can occur when driving their own vehicles or their customer’s vehicles for motor trade purposes.
- Motor Trade Combined insurance covers you from road risks insurance, but it also gives you additional levels of protection to. This could range from garage contents insurance, equipment, tools, through to public liability.
Depending on your needs our policies can offer comprehensive, third party fire and theft or third party only cover.
Subject to your circumstances and level of cover needed, in addition to the above protection can be given for Business Interruption, Goods in Transit and Loss of Money and although other cover is available, please contact us so we can make sure we help find the right cover for you and your business.
