Part Time Traders Insurance

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Compare insurance for part time motor traders

Compare cheap part time motor trade insurance from our panel of specialist motor trade insurance brokers.

The brokers we work with are some of the most competitive brokers in the market and have dedicated schemes for those who work in the motor trade industry on a part time basis.

What is part time motor traders insurance?

Part time traders insurance is designed to cover those operating within the motor trade industry on a part time basis whilst also holding a full time job. Many people wanting a part time policy typically operate in the evenings or at weekends.

We work with leading UK brokers who have access to the most competitive policies to help you Compare Part Time Traders Insurance.

Typically, those who work in the motor trade industry to supplement their normal income are those who will be most relevant to a part-time traders policy. This may include selling, repair and servicing vehicle’s occasionally through the week or at weekends.

Like a standard motor traders insurance policy, insurers may well still require to see trade activity. This is done by providing receipts of vehicles or parts you have used to repair vehicles.

It is likely you will also be required to show a minimum level of vehicles you are repairing or selling. This figure will be considerably lower than a normal trader policy but required all the same.

Most part time traders will find themselves taking out a road risk insurance. It is likely you will only require a private car insurance if you do not operate for profit within the car trade industry.

Policies can be very flexible given that you will only be working within the industry occasionally and not full time. Typically a part time traders policy will be very basic but provide multiple and various add-ons that can include.

  • Public liability cover
  • Material damage
  • Coverage for your partner or spouse
  • Single or multiple drivers
  • Road risk (as standard)
  • Additional business use.

Part Time v Full Time Traders Insurance

If you are in the motor trade industry and coming up for your renewal, many traders ask if they can get a part time motor trade insurance instead of a full time policy in order to cut costs.

The major difference between the two is the part time traders will have another occupation that forms their primary means of income. For these traders, the motor trade industry is just a supplementary income.

As well as this, the cover level, unless increased, is often stripped down to a bare minimum level due to the risk profile being less.

Can Part Time Cover be as good as Full Time Cover?

Yes, part time cover can be as thorough as full time cover; it is also likely to be cheaper given your risk profile. The reason the Full Time cover will cost more at this stage is due to your increased level of trade activity. The greater the level or trade activity, the higher the chance of an accident happening that results in a claim.

If you are a self employed individual working as a sole trader for instance where your primary income is also your business, you may be able to gain an extension to your policy that covers your main business, this would combine your policies potentially reducing your insurance costs. Ask our advisor about this.

Will I still need to prove trade activity on a part time policy?

Yes, it is likely you will need to prove a level or trade activity to you insurer. Depending on insurer, on a part time policy it is likely you will have to show proof of buying and selling at least 6 cars for the year. If you are in vehicle repairs, you will need to show multiple receipts or invoices for work you carry out.

Repairing or selling 2 cars a year does not qualify as a business and you will not be able to obtain a policy.

Can I get a cheap part time traders insurance?

Your ability to get a cheap part time traders insurance depends on a number of factors. If you have worked hard to build up a no claims discount, that will help you. Also, if you trade from a good area, that will also help reduce the cost of your policy.

Trading from a secure and better location will also help this. It is always best to speak to one of our advisors if you are unsure.

Can I get a part time road risk policy?

Yes you can! It is by far the most common type of motor trade part time policy taken out. A road risk insurance policy will cover the vehicles in you possession as well as any liability you wish to add on. It won’t cover any premises though. Most part time traders work from home and therefore the premises cover is under the house insurance.

Can I get a combined policy on a part time basis?

You can but it would probably be quite expensive. If you were wanting to insure a premises that would only be used occasionally, we would strongly recommend making sure you have thorough security measures in place.

What can be included?

Your part-time traders policy can be tailored to cover multiple aspects. It is completely tailorable like a normal policy but will be designed around less trading.

For those buying and selling vehicles say on a weekend or just in the evening, this policy is ideal. I you don’t sell vehicles and you just work part time repairing them, then again, this policy is ideal as it can be tailored directly to your needs.

If you employ people, it can include employers liability as well as various other insurance covers such as liability insurance but you may be looking at more of a combined insurance if you require a lot more cover for things such as premises.