Service & Repair, Bodyshops and Vehicle Sales
The regional specialists in motor trade insurance, we provide insurance products to hundreds of motor traders throughout the East Midlands and throughout the UK. Get quote NOW, call us 01623 397300
Its not until you really understand the motor trade that you realise its a very complex subject, its not just about getting a piece of paper to prove statutory cover is in place
Working in the motor trade, its essential that you have the right type of insurance in place, dealing with a specialist motor trade insurance broker such as Real Insurance, will provide a much better understanding
Insurance cover to protect you and your business.
- Property Damage – covering your machinery and plant
- Portable Hand Tools – your tools, diagnostics and tool boxes
- Business Interruption – keeping you in business should the worst happen.
- Liability Insurance – covering negligence against a member of the public.
- Defective Workmanship – covering loss or damage to a customers vehicle due to your defective workmanship.
- Road Risks Insurance – the essential cover for your business.
Motor Trade Insurance Covers – what are they?
Essentially the property part of a motor trade policy is no different to the requirements of any other business, however there are sections that are included very specifically for the motor trade.
Also known as material damage, this provides cover for your property such as the machinery, plant, fixtures & fittings, your hand tools, your stock of parts and consumables etc and more specifically under a motor trade insurance policy both yours and your customers vehicles
Business Interruption insurance
Ignore this essential cover at your peril, surprisingly this is the first cover to be considered to be removed when things get tight, the problem is that if this cover is removed and a loss occurs things are going to be much tighter, unless you can survive with no income but all the bills to pay then your business is at serious risk.
In very simple terms Business interruption replaces your income whilst your premises are repaired – obviously its much more complex than this, take a look at business interruption insurance.
Motor Trade liability insurance
The actual way in which liability insurance works is no different to any other liability insurance. The motor trade has different exposures though to say the construction sector.
Public and Employers Liability works exactly the same as it does elsewhere, it covers your legal liability for negligence against a third party, or in the case of employers liability, against employees. Different exposures exist in the motor trade and special covers are included such as defective workmanship and sales indemnity.
Defective workmanship covers your liability for loss or damage to the vehicle that you are working on (but not the part itself). Sales Indemnity provides insurance cover for losses resulting from a vehicle you have sold.
Road Risks Insurance – the essential part of motor trade insurance.
This is a complex subject in its own right, it covers you and others to drive own and customers vehicles, its better explained here under Road Risks Insurance.
These are just a few of the essential covers available in a motor trade insurance policy its much more complex, other covers are available depending on what you do in the motor trade – Money, Employers Liability, Goods in Transit and if you sell vehicles along with insurance products then Professional Indemnity would be a requirement.
Call us now to review your insurance requirements, speak to the experts, expert advice and quality insurance products from one of the regions specialists
Why don’t you visit our dedicated motor trade insurance website, it goes into depth on what you need to cover as a motor trader – realautomotive.co.uk
Motor Trade Insurance for Business in Mansfield, Nottingham