MSN Business Directory Can motor trade insurance & premises insurance be combined?


Can motor trade insurance and premises insurance be combined?

The short answer to this question is yes; if you take out a combined motor trade insurance policy then you can cover both your vehicle and business premises under one policy.

This is easier to manage than taking out two policies, and it’s potentially cheaper too.

Insuring your work vehicle

Insuring your company vehicle with a motor trade insurance policy is a bit different than insuring it through a domestic insurance policy. For example, some of the cover you automatically get with domestic insurance, such as windscreen cover, you don’t get through a motor trade policy.

The minimum level of insurance you need for your commercial vehicle by law is third party or road risks insurance. This means that you can drive your own or your customer’s vehicles as part of your work. This insurance doesn’t cover other elements of your business such as your business premises, tools and other equipment that you need to run the business.

Insuring your premises

As an established business it is likely that you have business premises to insure, whether it’s a workshop, retail premises or storage space. It is important that your premises are fully covered against anything that might happen which would affect the running of your business.

Premises insurance will ensure that your building and its contents, including any stock held, are covered. Examples of what you are insured against include theft, fire, flooding and other causes of accidental damage to your property.

Premises insurance also includes public liability insurance. This covers you should a member of the public injure themselves whilst on your premises, essential for many businesses.

Combining your motor trade and premises insurance

By combining your motor trade and premises insurance policies, you will be making sure that your business is covered for almost any eventuality. Combining the two policies can also cost less and make management of your insurance easier.

Motor trade combined insurance will cover your company vehicle in the same way that a normal motor trade insurance policy does. It will include third party liability and road risk protection.

You will also be able to select additional features that will cover tools, machinery and other business equipment such as your computer or laptop. You should consider cover for any equipment that is essential to your business.

By taking out a combined motor trade insurance policy most insurers will allow you to tailor it to suit the needs of your business. You will be able to add additional insurance features to cover:

  • Your business premises – protection against fire, flooding and other potential causes of damage to the property
  • Your building’s contents – insure your tools, stock and other equipment against accidental damage, fire and theft
  • Liability insurance – take out public and employers liability insurance if needed

The great thing about being able to tailor your combined trade and motor insurance to suit you and your business is that you only pay for what you need. You also have the peace of mind of knowing your business is fully covered.

If you enjoyed this blog post, you may enjoy:

Can I cover myself for loss of earnings under a motor trade insurance policy?

Do I need Insurance if I only trade vehicles part-time? 


February 24, 2014