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What are the benefits of motor trade insurance?

Can I insure my commercial vehicles through motor trade insurance?

If you use vehicles, such as vans and cars, as part of your business, it is important to insure them under a motor trade insurance policy.

It doesn’t matter if you are a man with a van or a business with a fleet of vehicles being used by employees on a daily basis – you must have the right insurance policy in place.

If you are not adequately insured and the unexpected happens, you could find that you and your business are out of pocket. It’s better to do things properly in the first place.

You need motor trade insurance for your business if:

  • The vehicles owned by the business will be driven on the public roads – you’ll need motor trade insurance by law. Being caught without it could result in serious consequences.
  • Your van/lorry/car or fleet of vehicles are essential for running your business.
  • If you keep essential equipment such as tools in any of your vehicles at any time.
  • If your business involves the transportation of goods, or if you use your own vehicle to drive to and from work or for business purposes during the day.

As well as making sure that the business vehicles themselves are insured, you need to also consider covering anything else that is used for business purposes.

You need to properly insure your tools, business premises, any stock, or other business equipment such as your computer or laptop.

You also need to protect yourself and your business with employee or public liability insurance policies if necessary.

What are the benefits of motor trade insurance?

Aside from insuring your business vehicles against fire, theft and accidental damage; motor trade insurance can protect your whole business.

Having a motor trade insurance policy, or combined motor trade insurance policy, in place ensures that you will be able to continue running your business in the event of something unexpected happening.

  • Many insurers offer you the opportunity to tailor your insurance policy to fit your businesses individual requirements.

This means that you can potentially insure everything of value to your business under a single policy. From business premises, to tools, IT equipment, loss of earnings and accidental loss of money, in the event of a fire, accidental damage, loss or flooding your business is fully covered.

  • When taking out a motor trade insurance policy, you also receive road risk and liability cover.

This means that you can drive your customer’s vehicles if needed and be fully insured.

  • You can potentially add your partner or spouse to your motor trade policy for a reasonable cost, meaning that you save money on domestic insurance policies. You would need to speak to your insurance provider regarding this.

The peace of mind that comes from knowing that your business and company vehicles are insured against the unexpected means that your can concentrate on running the business and making money.

Should anything happen, if you have motor trade insurance in place, your ability to run your business and provide for yourself and your family won’t be affected.

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