Motor Trade Insurance

What is motor trade insurance?

This is what it sounds like, insurance for people within the motor trade. It is unfeasible to expect motor traders to arrange separate insurance policies for every vehicle that they ever have the need to use. If you take a car dealer for example, they may buy a vehicle and only own it for a few hours, selling it on in the trade, or maybe buy a car at the auction and need to drive it home.

Garages that provide service facilities also need motor trade insurance to protect their employees whilst they drive your vehicle around their premises. There are several providers, whom you can contact online or via the telephone, that are able to offer motor trade insurance policies to people from a wide range of motor trade related occupations, whether you are part-time or full-time self-employed.

Companies such as car valeting services also need motor trade cover in order to fully cover them when they drive your vehicle. Most trader policies will cover vehicles up to an agreed value, some we recently saw online would cover a vehicle up to £30,000, and provide an overall stock level cap, maybe in the region of £60,000.

This is by no means the maximum levels you will be able to obtain, if you need more then the insurers will re-rate your premium accordingly. We recommend getting in touch with an insurance broker that specialises in this sort of cover. They will be able to shop around the various motor trade insurers on your behalf to find the policy to suit you, whether you are a car valet, body shop or a car sales business employing from one to fifty people. Choice Quote, based in Liverpool , can be contacted on 0870 745 4474. Before you give them a call it may be worth checking if you can agree to the following statement that they have on their site, which basically confirms whether you are a motor trader, i.e. eligible for this type of policy.

“The definition of a motor trader is a person or persons actively operating a formal business on a full or part-time basis for profit, either selling vehicles or providing a service relating to repair or maintenance of motor vehicles. A motor trade road risk policy is only available to those who by virtue of their motor trade occupation are required to drive a number of undefined and unspecified vehicles during the course of the operation of their motor trade business. In the case of a car trader it would be their stock of vehicles held for sale and for repairers and similar occupations, the cover would be required to drive their customers cars.” ©

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