If you run a business buying, selling, servicing or repairing motor vehicles, then you need specialist insurance cover beyond a standard personal policy. Motor trade insurance provides protection tailored to those working in automotive trades. This article covers what's included and who needs it.
What is Motor Trade Insurance?
Motor trade insurance policies are designed to cover vehicles you possess, modify, repair, service or transport as part of your work. This includes driving customer, auction and stock vehicles on the road. Personal insurance policies won't stretch to this type of business use.
Who Needs It?
If you profit from working with motor vehicles in a trade capacity, motor trade insurance is a legal requirement. Whether you run a large garage, are a mobile mechanic or sell a few cars each year from home, if you don't have appropriate cover, you risk hefty fines, prosecution and claims not being covered.
Types of Motor Trade Insurance
Road Risks Insurance
Covers driving vehicles for motor trade purposes, e.g. test drives, transport and testing.
Packages road risks with premises and liability protections like public liability, employer liability, servicing indemnity, defective workmanship, contents, buildings, stock, tools, business interruption covers and much, much more.
Motor trade policies can insure:
Service, Repair and MOT Garages
Vehicle Body Builders
Commercial Vehicle Repairers
Part Time Traders or Home Mechanics
Vehicle Breakdown & Recovery Agents
Vehicle Collection & Delivery Agents
There are some vehicles that insurers may not cover without special extensions, such as high-performance, vintage or imported cars. Let us advise if you work with non-standard models.
Keep Insurance Brokers arrange tailored motor trade insurance so you can be confident your business is protected. If you repair, modify or transport vehicles for profit, get in touch to discuss your needs.