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Common Aspects Covered By The Motor Trade Insurance Policy

The motor trade insurance is a legal requirement when you are having a business dealing with motors. Motor traders need to cover their vehicles with the motor trade insurance policy; it is an important aspect that will protect the property from unexpected risks. This type of insurance policy is required if your vehicles are driven on public roads.

In all state, being caught without the motor trade insurance policy will result in severe consequences. It is also required if your business is for transporting goods and you are using your vehicles. In short, the motor trade insurance is a basic requirement for any business that is working in the motor trade industry. The following are the aspects that can be covered by the motor trade insurance.



Road risks

If your vehicles are on the public roads, you need this motor trade insurance policy. The staff that will be delivering the automotive to buyers will be covered by this insurance policy. If you are running a mechanic business and you need to take cars out for fault test, you also require the motor trade insurance. You can also take cover for parts only; this is the case where your business does not require vehicles to be driven on the public roads.


Employers’ liability insurance

The motor trade insurance policy can also be used to cover your employees. The business will be able to be protected against the claims from your staff members. Whether you are driving or not, you need to have this insurance policy so that your employees can be covered. A motor trade insurance policy is a legal requirement if you are employing drivers.


Public liability insurance

The motor trade insurance policy can protect your business against claims from the customers. The members of the public can claim for compensation if your vehicles cause damage to their good being transported. For instance, if a customer calls for assistance from your business and your machinery hits one of them, the public liability insurance will cover you.


Product liability

This helps when you buy automotive parts from a manufacturer, and you realize that it is not genuine. You will be able to sue the manufactures of the automotive part if it causes damage to your vehicles. The product liability insurance policy will assist in claiming against the manufacturer of the automotive parts.



Combined motor trade insurance

This type of insurance is purposely required to cover the entire business. It is an extensive policy that covers for money, premise, and vehicles of the motor business. It covers all motor traders who operate from business locations and homes. Regardless of what your business does, repairing, cleaning or selling cars, you need to have this insurance policy to cover your business. Taking this type of motor trade insurance policy might be cheaper instead of splitting into separate policies. However, this policy requires the motor traders to contact a specialist’s motor trade insurance to provide advice about the level of cover that the business requires.…

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