Part-time Motor Trade Insurance
What is part-time motor insurance?
Not everyone who buys, sells or repairs vehicles does so on a full-time basis. Some people trade cars to supplement their income from another job.
Due to the nature of their business, it would not really be cost effective for them to take out full traders cover, and part-time motor insurance has been created so they can have the benefit of protection without their finances being pinched.
How do you prove you in work part-time in the motor trade?
In most cases the insurer will ask to see receipts for the purchase and sale of cars. For those that work part-time in the repairs sector, you may be asked to produce receipts for parts and tools, while valets can provide evidence that they have purchased cleaning products such as cloths and shampoos.
Some insurers will specify that you have to trade/repair a minimum number of vehicles in order to be covered so make sure you know what this figure is.
Why haven’t I heard of part-time insurance before?
It probably has something to do with the insurance being very specialised. Many people wrongly believe they need a full traders policy to do any amount of work in the motor sector and more-tailored policies are not available from any general insurers.
Indeed, a large number of companies view part-time cover as risky because they feel that they would be insuring someone with a lower level of experience who isn’t a full-time professional. Of course, this is nonsense in a lot of cases as there are many good reasons for experienced and qualified motor professionals to work in other industries.
What does part-time insurance cover?
Policies are tailored to your specific needs so there is no one-size fits all policy. Generally speaking, a policy will cover any vehicles you own (including ones you have purchased at auctions), against damage, fire and theft.
Roads Risks cover can be taken to insure you when driving vehicles which you do not own. This will enable you to take cars on test drivers or drive vehicles back to customer’s homes if you are a mechanic or valet.
As with regular car insurance, policies are available in three different ways – comprehensive, third party and third party fire and theft.
Do I have to operate from business premises to get cover?
Not at all. At Insure Motor Trade we understand that many part-time traders and servicers do not operate their own showrooms or garages and prefer to work from home.
Why chose Insure Motor Trade?
As one of the leading insurance brokers in the country, we have access to a wide range of options and can perfectly tailor a policy to your needs.
We have been in business for more than 20 years and have a dedicated team on hand to talk you through every aspect of cover. Our advisors will endeavour to understand your business so that they can find you the cheapest part-time motor trade insurance available.
To find out more, call us on 0844 931 2020.
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