When you are a professional who works with vehicles every day, you need to make sure that you are protected against anything that might come your way. Say, for example, you are a mechanic who needs to drive a client’s car. Do you have the right kind of insurance cover for this?
Motor trade insurance is the perfect kind of policy for this kind of role. If you don’t already have motor trade insurance then you should make sure that you invest in the right kind of policy. Here, we are going to help you choose the right motor trade insurance for your business. Keep reading to find out more.
Do You Need It?
If your business has ‘care, custody or control’ of someone else’s car you will need Third Party motor trade insurance at the very least.
Some of the common types of roles that require motor trade insurance include car dealers, bodyshop repair garages and valets. These are the people who are likely to be driving around in someone else’s vehicle and any business that employs this kind of staff needs to have the right kind of cover. Make sure to find out if your business requires this kind of insurance before taking out a policy to ensure that you don’t waste any money in the future.
What Is Covered?
Motor trade insurance will be tailored to the needs of the business, and as such it’s impossible to say exactly what will be covered by each policy.
Each policy will be different and you might need to pay more for the more comprehensive policies. Some things that you might expect to be covered by this kind of insurance may not be, so make sure that you are reading all of the terms and conditions carefully before you take out a policy.
When you are trying to choose the right motor trade insurance policy for your business, you need to make sure that it is affordable. Policies will range in price depending on the type of cover and the company that is providing it. It is always a good idea to compare the prices of different policies before you make any commitment to the deal.
You can do this easily by using an online platform who will look at your requirements and provide you with the best deals across a range of providers. Don’t just go for the first one you see, ensure you compare providers using a price comparison platform. This will help you to find the right price and not overpay for your insurance. This is something which will help to keep your business costs low as we are sure that you will have a lot of other things to pay for.
Finally, you might want to consider looking at some of the optional extras that can be added on to your motor trade insurance policy. These extras are things that can make your policy more comprehensive and personalised to your business. Some of the things that you might be able to have added on to your policy include European cover, Parts Only cover and cover for your business premises.
Some of these optional extras will add a lot of money to your policy while others might only have a small impact on the cost. Make sure to only add on the things that you need and don’t be swayed by an insurance company that wants to make some extra money from you.
Choosing the right kind of motor trade insurance for your business can be tricky but if you think about it carefully then you should be able to find the right policy. It is important that you know first what you need to be covered for and that you have a budget in mind. If you can find a policy that covers everything that you need and you find it for the right price then you should be able to make the right decision.
We advise that you always compare prices before you commit to any kind of policy in the future. Soon, you’ll have your motor business up and running and be covered should anything happen while you are on the job.