If you have a premises that you operate your business from, then yes; a combined motor trade insurance policy probably is a good idea. This is because it is specifically for anyone running a business from premises and will help you make a quick saving on your cover.
What’s the deal with motor trade insurance?
Well, even if you test drive a vehicle for a customer over a mere 100 yards, you still need road risks insurance, as driving legally in the UK on any road requires it.
So if you are a motor trader, you will need a policy to cover you for driving business-related motors, such as customers’ cars.
For a part time motor trader, or those who run their business from home, a motor trade policy is sufficient enough as it will cover you for these risks, with a policy focusing on road risks insurance.
So what’s combined motor trade insurance?
However, if you own premises, then a combined policy is ideal for you to protect your property, and it also includes public liability for accidental injury and damage caused by customers or visitors to your premises. It is therefore ideal for car dealers, mechanics, and anybody else who has a garage, MOT centre, or dealership and will have regular visitors to their site.
A combined policy could also cover all of your tools and equipment on site, plus vehicles and their contents too. Trading from premises means that there are naturally risks involved with such things as these, which means that you need a policy that can account for them. This will protect against any damage to property, tools and equipment, fixtures and fittings, vehicles for stock or personal use.
Cover employers’ and public liability
Combined policies also incorporate employers’ liability, which is required by law for any company employing somebody within their business, and protects the business owner in the event that an employee should make a claim for injury or damage caused as a result of being on your premises.
So rather than have to think about getting another policy on top of your motor trade cover, a combined policy can incorporate this along with public liability – to get you covered all under the same policy. This means less hassle when it comes to renewals, and a cheaper price rather than having them all done separately with charges on top (eg: monthly APRs, policy set-up fee, policy adjustment fee, cancellation fee, credit card payment fee, etc).
The extras that make all the difference
Flexible payment options and competitive premiums are the key things that help make a combined motor trade policy easier to manage for your business. On top of this, having a knowledgeable broker who understands your individual needs, and matches combined cover to those needs makes the whole process a lot less stressful when you come to make a claim.
You don’t want to find yourself without the right level of cover for your needs due to a one size fits all policy when you need it most. So having an experienced combined motor trade insurance broker definitely has a huge impact on the outcome of your policy later on.
September 12, 2014