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Motor Trade Insurance
Motor trade insurance covers a range of businesses and brings together a blend of insurance policies such as motor and business insurances to provide cover for all aspects of your business including employees, tools, and property, vehicles, liabilities, and your day-to-day business activities. If you hire out any of your vehicles then you will need a self drive hire policy.
- Standard public liability limit of £5 million
- Employers’ liability £10million
- Full cover for loan cars
- Cover for vehicle recovery
- All trades considered
- Cover for diversified businesses
The Alan Boswell Group Difference
We understand the motor trade and know how varied each business is and how important it is to get the right cover. We believe in the personal touch and our experts will explain what covers are required to ensure your business is fully protected. If you value your business we believe you’ll value our advice. One of our motor trade experts can visit your business to help you understand what cover is required.
How our clients rate us
Not only have Alan Boswell Group got us more comprehensive cover, but they have reduced our premium by a fifth!
Motor Trade Insurance in detail
The cover you require depends on the type of motor trade business you operate. Covers available when purchasing motor trade insurance include:
- Public liability Aside from customers slips, trips, and falls, this would cover you for liability arising out of your everyday activities e.g. defective workmanship, faulty goods and services.
- Business interruption In the event of certain claims (e.g. fire) you would be able to claim for loss of earnings and/or additional costs to relocate your business temporarily to ensure continued operation.
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Property damage
Damage to your business premises and relevant fixtures and fittings.
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Portable tools
Loss or damage to tools while in use, both on and off premises e.g. diagnostic equipment.
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Wrongful conversion
Cover for incorrect HPI and Experian checks for vehicle sales.
- Road risks Cover for own vehicles, customers’ vehicles, and loaned vehicles while being driven.
- Damage to customers' vehicles Covers customers' vehicles damaged while in your care e.g. theft, fire.
- Customers’ loads Cover for commercial customers’ tools and equipment in your care.
There are also additional covers available that we would recommend depending on your type of business.
- Cyber liability Protects businesses for costs occurring from a data breach or loss of information.
- Directors' & Officers' Covers the cost of compensation claims and defence costs against the business’ directors.
There are a multitude of covers available and our experienced staff are there to support you with your business insurance requirements.
Some of these covers are only added when requested, or if they are added may have limited cover, and it is important when you compare motor trade insurance quotes you ensure you are comparing them on a like-for-like basis.
It is essential the correct ownership of business and personal vehicles is declared to ensure the right cover is in place e.g. director vehicles are often not covered unless specifically noted.
Ensure all motoring claims and convictions are advised as failure to do so could invalidate your business’ insurance.
All business activities, no matter how minimal, must be declared to ensure the correct cover is obtained.
FAQs
What is motor trade insurance and what does it cover?
Motor trade insurance is a type of insurance policy designed to cover businesses that buy, sell, repair, store, or drive motor vehicles. It typically covers liability for damage to third-party property, as well as damage to vehicles in the care, custody, or control of the insured. It may also cover loss of or damage to vehicles owned by the insured, as well as legal expenses. A policy could also includes employees, tools and property, liabilities and your day-to-day business activities.
Outside of the motor trade industry, most companies have to take out both a business policy and a motor policy. For motor traders both are covered under the one policy.
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No, there is no difference. They are all terms used for motor trade insurance.
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Yes you can, although the rating will be dependent on experience.
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If you work in the motor trade and either employ people or drive cars then there is a legal requirement to have valid insurance.
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The MID was set up to comply with an EU Directive, which requires insurance details of all vehicles in member states to be easily accessed by a national information centre. We will work with you and your insurance company to ensure you comply with this directive.
Continuous Insurance Enforcement (CIE) has been implemented to reduce the number of uninsured drivers. Under CIE, the registered keeper of a vehicle will be sent an Advisory Letter if it appears that the vehicle has no insurance, unless it has a valid Statutory Off Road Notice (SORN).
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This all depends on how the policy has been setup. There are two main ways to set up a policy, either on a named-driver or any-driver basis. It makes sense to plan who you want to drive as the tighter the restrictions on driving, generally the better the premium. For example, you can restrict any driver to business-use only.
Get in touch
Andrew Higgins
Account Executive
Andrew commenced his career with Norwich Union in 1990 where he carried out various roles within the claims department for nine years. He then worked…
Richard Sayer
Account Executive
Richard has more than 25 years industry experience after working for a variety of insurance brokers and insurers in the region. He gained valuable insight…
Ian Sadd
Account Executive
Ian Sadd started insurance life at Aviva Insurance in 1985 working in Underwriting at Head Office and the local branch network. In 1993 Ian moved…
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