Which Motor Trade Insurance Policy Is Right For You?

Motor Trade Insurance May Be A Legal Requirement For You

Whether you are considering setting up as a mobile mechanic, have an established car valeting service, or you offer your services to garages and showrooms across the country, it is vital that you have the most appropriate insurance policy available for your requirements. Motor trade insurance policies do vary, not only according to the specific policy type you choose, but between insurance companies. You should ensure that you have appropriate coverage for your requirements. This not only ensures that you are legally protected but also ensures that you are not spending an excessive amount on your insurance.

Road Risks Policies

There are two basic types of traders insurance and these are road risks and combined risks insurance. Road risks insurance covers you while driving any vehicle that is in the charge of your organisation or you professionally but does not provide any kind of cover for business premises. This is the cheaper of the two types of insurance and is best suited to those individuals and organisations that do not have their own premises.

Combined Risks Policies

Combined risks insurance, sometimes referred to as all risks insurance, combines road risks coverage with protection for your business premises. This will usually prove more expensive than covering against road risks only but it does offer protection against stock as well as premises. Car showrooms, garages, and other organisations with their own business premises should consider this type of policy.

Choosing The Right Policy

Choosing the right type of policy will help you ensure that you are paying a suitable amount for your cover but so too will checking your policy details. A policy which covers numerous employees, one that allows young drivers (usually under the age of 23) to drive the vehicles, and a policy that includes coverage for high performance cars may be costing you more than you need to pay. Read through the policy details, speak to your insurance company, and be certain that you have the level of coverage that you require. Too much insurance may mean that you are paying too much money.

Motor Trade Insurance

More and more people are becoming self-employed or establishing their own businesses as gainful employment is proving increasingly difficult to find. Whatever type of organisation or business you are considering setting up, you should ensure that you have the appropriate insurance because it can help protect against a wide variety of different risks and potential losses.

Motor trade insurance is one such policy and not only is it a legal requirement for some professionals and businesses but it can save you a lot of money when compared to being caught without adequate coverage.