What is Motor Trades Insurance
Motor trades insurance is a specialized type of insurance designed for businesses and individuals involved in the motor trade industry. This includes everyone from car dealers and mechanics to panel beaters and car traders. The insurance covers various risks associated with operating in this field, providing protection for your business, customers, and assets.
Why Do You Need Motor Trades Insurance
Operating in the motor trade industry involves several risks. From accidents in the workshop to liabilities arising from customer interactions, customer vehicles stored on site, having insurance is not just a safety net but a necessity. It ensures you can continue your operations without the fear of financial ruin in case of unforeseen incidents
Types of Motor Trades Insurance
Professional Indemnity insurance: Coverage for providing certifications for customer vehicles to ensure they are roadworthy.
Customer Vehicles insurance: Coverage for damage to customer vehicles on site. This can also includes coverage whilst vehicle is being driven, so it is important to check the options selected.
Trade Plate Insurance: Covers your business for driving a vehicle without it be being registered.
Liability insurance: Provides coverage for damage or injury arising from accidents that happen due to your business activities that you are liable for.
Who needs Motor Trade insurance
If you have a motor-related business, having the correct coverage is important for your success and minimising your risk. Types of businesses where this cover is of benefit include:
- Motor Mechanics
- Panel Beaters
- Auto repair shops
- Auto electricians
- Luxury car repairers
- Car Dealerships
Insurance and Services
Motor trade insurance can cover a variety of aspects, including road risks, liability, tools and equipment, premises, and more. The specific coverage depends on the policy you choose and the nature of your business
Additional products and services we can assist with that protect businesses from statutory liability exposures, including Health and Safety obligations, staff micro income protection benefit plans over and above their statutory sick leave requirements and Employee Assistance Program services can make you an Employer of choice in your sector.
Consult with Business Insurance Specialists
Motor trades insurance is an essential component of running a successful and secure business in the motor trade industry. Protect your Assets, Income, Customer Vehicles and Liabilities, and your People. Contact Business Insurance Specialists today to obtain a quotation for your insurance.