MSN Business Directory Motor Trade Insurance FAQs | Insure Motor Trade

Frequently Asked

Who needs motor trade insurance?

If you work full- or part-time in the motor trade industry, your business requires motor trade insurance to protect it from any situation that may arise.

While motor traders are only legally obliged to take out third party cover, it is highly advisable to take out more comprehensive protection. You never know when the unexpected will happen and being prepared can safeguard your business against financial difficulties.

What occupations does it cover?

Motor trade insurance policies cover a wide range of occupation, including car sales, valeting, vehicle repair, vehicle recovery and mechanics.

Since the needs of each motor trader can be very different, we’ll tailor each policy to suit your exact requirements.

How much does motor trade insurance cost?

This depends entirely on what type of policy you take out. Higher protection costs more but will pay dividends if anything happens.

Think of motor trade insurance as a long-term investment – chances are you’ll need to make a claim at some point and when you do, it could prevent your business falling into any financial difficulties.

As an insurance broker, we’ll help keep your costs down by scouring the market for the cheapest policies for you. We’ll also tailor your policy so that you’re not paying for anything you don’t need.

What does motor trade insurance cover?

Motor trade insurance is designed to protect your business against any eventuality. There’s no one-size-fits-all policy and the best ones are tailored to the individual needs of each motor trader. However, there are four main types of motor trade insurance policy:

• Third party only
• Third party, fire and theft
• Comprehensive
• Combined

The most basic motor trade policy will cover you for third party injury, loss and damage. However, more comprehensive policies provide enhanced levels of protection that will protect the third party and pay for damage to the vehicle that you are driving.

Do motor traders qualify for a no claims bonus?

Yes – motor trade policies work in the same way as car insurance policies and you’ll earn a discount for each year you don’t make a claim.

You can also protect your no claims bonus by paying a slightly higher premium but protected bonuses are not always honoured when you switch insurers.

Can domestic vehicles be insured on a motor trade insurance policy?

Yes but you must notify your insurer if you want to use a commercial vehicle for domestic uses.

This can usually be added to your policy as an additional extra and will save you taking out two separate policies for your business and your domestic vehicles.

What is a motor trade insurance broker?

A motor trade insurance broker is different to an insurance provider. We compare all the best policies on the market to find you the right one for your motor trade business – at the cheapest price.

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