What is Car Trade Insurance?
Trade Car Insurance simply put is just another term for Traders Insurance or Motor Trade Insurance. It is a policy that is designed to cover you against loss, damage and claims whilst operating within the motor industry.
You will be able to apply for and obtain a car traders policy in two forms, these are road risk only or combined motor trade insurance. The first of the two will only cover you for risks associated with using the road and is the more commonly applied for as it covers car sales and general work without covering a premises. Combined cover will cover everything associated with road risk but will cover a premises as well that is not your home. If trading from home, your property will be covered by your own home insurance.
Do I need Car Traders Insurance?
Yes, to operate without having a policy in place is illegal and can see you shut down, fined or imprisoned if something went wrong. By correctly insuring, you sage guard yourself against loss or damage as well as enable yourself to prove you are a trusted and reputable trader giving confidence to your clients.
We compare policies to help you find the right, cheap trade car insurance without all the hassle of ringing round multiple brokers who may not even be able to quote you.
What is covered in a policy?
You car trade insurance will be tailored to your exact needs. By default however, your policy will be broken down into 1 or 2 key areas.
Road Risk Only
Road risk only insurance is the most common for of insurance for traders. It covers all risks associated with using a vehicle on the road including the clients vehicle.
Often purchased by those in car sales or mechanics that wish to insure nothing else other than the vehicles or maybe the vehicles and tools.
Part time motor trade insurance is often a common example of road risk cover.
A combined policy is a car trade insurance policy that is designed to protect a premises as well.
A true sense of a combined insurance policy is a motor trader trading from a separate garage and wishes to insure things such as vehicles, stock vehicles, tools and a building and equipment itself.