October 17, 2021


The best in business

A Beginner’s Guide to Motor Trade Insurance

2 min read

All motor trade businesses in the UK must have the correct type of insurance. Here is our beginner’s guide to the various types of motor insurance available.

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Types of Cover

– Liability Claims

Liability claims carry significant risks for businesses, so it is essential that cover is included within your motor insurance. The two types of liability insurance generally found in a motor trade insurance policy in the UK are employers’ liability insurance and public liability insurance.

You must be covered for any sudden and unexpected accident that could occur, which is why road risk insurance is crucial.

– Road Risks

Road risks are a vital type of cover for motor businesses. No matter which type of trade you specialise in, you will be working with different vehicles constantly, whether you are modifying them, fixing them or selling or buying them.

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– Combined Trade Insurance

A combined motor insurance policy for traders provides comprehensive variation of cover for motor businesses. It can include cover for liability claims, tools, cash, road risks, premises and stock.

– Legal Expenses

Taking out liability cover on your policy may not be enough. As not all liability claims are genuine, and you may need to challenge one in court, you must ensure you can pay for the legal expenses you incur. This is the reason that so many motor businesses choose to include legal expenses within their policy.

Ways to Save Money on Insurance

– Make Your Premises Secure

One step to take in reducing the price of trade insurance is to ensure your premises are secure. Measures such as good locks on windows and doors, security lighting, perimeter control features and CCTV cameras all help reduce the likelihood of theft.

– Gather Different Quotes

Collecting as many quotes from different insurance providers as you can is a useful way to save money on insurance. This will enable you to make an informed decision when choosing to take out your policy.

Contact a company such as quotemetoday.co.uk/motor-trade-insurance for an insurance quote on your own policy.

– Pay Upfront

Paying for your insurance policy upfront is often an overlooked method to save costs. Despite many business owners choosing to spread the cost and pay monthly, you can get a good deal with your insurance provider by paying annually.

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