Motor Trade Insurance
Cheap Motor Trade Insurance
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What is motor trade insurance?
Motor trade, or motor traders insurance protects your businesses from the risks faced while working in the motor trade industry. The type of cover included in motor trade insurance is flexible and can be customised for your individual business and its needs.
The main coverage of this policy can insure you for legally driving your customer’s vehicles when they are in your care, custody or control.
The importance of motor trade insurance
A motor trader insurance policy protects your business from financial loss and other business disruptions following accidents, theft or damages.
Protecting your business premises
Motor trade insurance can cover your building premises, equipment and tools against accidents like fire, theft, or vandalism.
Safeguarding your customers
This insurance covers you for moving or driving your customer’s car. Giving you and your customers peace of mind.
Ensuring your vehicles are covered
Comprehensive cover for your business vehicles can help you work more flexibly without risking driving uninsured.
Meeting legal requirements
You will need the necessary insurance to legally drive vehicles as part of your motor trade operations. Otherwise, you could face fines or even business closure for driving without insurance.
“I would urge people to make sure they have the appropriate motortrade insurance – there are unique risks that motor traders need to be protected from, and if they intend to drive customer vehicles then a type of motortrade insurance known as ‘road risk insurance’ isn’t just a sensible business decision, it’s a legal requirement.”
Greg Wilson, Founder of Quotezone.co.uk.
What businesses might need motor trade insurance cover?
Car dealers
Valeting or car detailing businesses
Breakdown and recovery firms
Scrap and salvage dealers
Car restoration businesses
Repair garages
Mobile mechanics
Car parking or car jockey services
Garages offering MOTs or services
What does motor trade insurance cover?
Motor trade insurance policies work by providing coverage options including:
Road risk insurance
Road risk insurance allows motor traders to legally drive customer vehicles on public roads. Coverage levels include comprehensive, third party, theft and fire, and third party only cover.
Combined motor trade insurance
This combines road risk insurance with other coverage that protects motor trade businesses. Business premises, public liability, and tools and equipment coverage are just some of the options available on combined motor trade insurance policies.
How can I find cheap motor trade insurance?
Transfer your no-claims bonus
Some insurers will let you transfer your personal no-claims bonus to your motor trade insurance policy. So you can save with a no-claims discount.
Increase your excess
Choosing a higher voluntary excess can lower your premium. Just make sure you can afford to pay the amount if you need to make a claim.
Improve security measures
Improving the security at your premises can reduce your premium. You can do this by installing alarms or CCTV to deter theft and vandalism.
Bundle policies
Buying the cover needed for motor trade businesses separately can be more expensive. Consider bundling these into one combined motor trade insurance policy.
Limit your coverage
Avoid coverage you don’t need. Additional cover or unnecessary add-ons can increase your motor trade insurance premiums.
Paying for cover upfront
Pay your policy annually if you can. Monthly instalments might feel cheaper, but admin fees and interest usually mean you pay more overall.
Compare insurance for motor trade businesses
Comparing motor trade insurance online could help you find some of the cheapest deals. At Quotezone you can quickly compare policies from a wide range of trusted UK motor insurers.
Motor trade insurance FAQs
Can I get a part time motor trade insurance quote?
How can I get the best motor trade insurance?
How much is motor trade insurance?
Can I drive any car with motor trade insurance?
Does motor trade insurance cover cars using trade plates?
Can I get motor trade insurance if I’m under 25?
Why has motor trade insurance gone up so much?
What is classed as a trade vehicle?
Is it worth getting motor trade insurance without premises?
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