Road risks insurance is an essential aspect of any business motor trade cover, whether you’re an independent service and repair garage, bodyshop or a car dealership. By purchasing road risks insurance you are protecting your liability against damage to customer vehicles in your care, custody or control.
Whether you’re working part-time or full-time in the motor trade, road risks cover allows you to carry out your day-to-day business activity – whether it’s vehicle maintenance or driving or moving vehicles – with full protection. Most road risk policies can also be extended to include public liability insurance should you need it.
Types of road risks insurance
Road risk insurance cover can be either fully comprehensive, third party, fire and theft or third party only.
Third party cover is the minimum legal requirement for any vehicle to be driven on public roads in the UK.
Third party, fire and theft policies cover damage or injury claims to third parties as well as the loss or damage of vehicles under your custody or control following a fire or theft.
Fully comprehensive policies include the same cover as third party and third party, fire and theft, as well as protection for accidental damage to vehicles you own or take care of. A comprehensive policy will pay out in the event your customer’s vehicle is inadvertently damaged in your care.
If your business regularly handles customer vehicles and your employees will be required to take them out onto public roads for testing, a comprehensive road risks insurance package is highly recommended to cover all bases.
No claims bonuses can make a great difference to your overall road risks insurance premium. Even if you are involved in a road accident that’s not your fault you could be at risk of forking out more for future cover, so you may wish to protect your no claims for a small additional fee.
All drivers and vehicles must be named on one road risks insurance policy. If you run a garage business with numerous vehicles on the roads and/or on your forecourt you can get everything covered for one set price with no fussing over multiple policies.
Certain vehicle types are excluded from road risks insurance policies by some insurers. They will be clearly listed on your policy schedule, but in general, if you work with standard cars and light vans you should find it relatively straightforward to safeguard the vehicles in your care.
What businesses would benefit from motor trade road risks cover?
- MOT garages
- Mobile vehicle repairs service
- New and used car dealerships
- Home tradesmen
- Auto mechanic centres
- Tyre and glass fitters
- Car electricians
- Car wash and valet services
At Insure Motor Trade we have considerable experience insuring all kinds of motor vehicles. Subsequently we are well placed to provide your business in the motor trade with a bespoke policy tailored to the needs of your business.
Why not give our friendly team a call today on 0844 931 2020 to discuss the types of vehicle you’d like to insure.May 19, 2014