Motor Trade Combined Insurance is specifically designed for motor trade businesses operating from premises, with policies available for businesses of all sizes.
If you take out a Motor Trade Combined Insurance policy with us, you’ll get protection against damage to your property, stock and tools, as well as any assets you own. We can also make sure you’re covered for Business Interruption, Engineering Inspection and Goods in Transit, giving you that extra peace of mind.
Prerequisite before applying for Motor Trade Combined Policy?
If you’re a trader looking for insurance, you can get a combined policy for businesses of all sizes. However, your business should operate from a commercial premise, whether it’s rented or owned. To qualify for this insurance, the business owner or director needs to have at least 1 year of Motor Trade bonus, although some insurers might ask for 3 years.
To get a Motor Trade bonus, you should have previously held a motor trade road risk policy.
What Does Motor Trade Combined Insurance Cover?
Traders’ Combined Insurance combines both road risk cover and liability cover as standard. It normally caters for motor traders who operate from premises, while adding extra areas of protection.
For example, combined traders insurance can provide premises cover, ensuring you are protected should any damage occur to the buildings that you lease or own as part of your business. Equipment, tools and machinery can also be included should you need it. A full list of the types of cover that we can add to your motor trade combined insurance policy is included below.
Who Needs Motor Trade Combined Insurance?
This combined insurance is designed for motor trade businesses that operate from premises. Here are some of our typical customers and the types of specialised insurance they often add to their combined policies. All of these types of traders’ insurance are explained in more detail below.
Service And Repair Garages
Any company working on mechanical or body repairs and servicing for any vehicles is defined as a service & repair garage. As well as road risks and liability, insurance for these businesses will generally cover tools and equipment, business premises, service & sales indemnity, stock of vehicle cover and cover for business interruptions.
MOT centres provide MOT checks for all kinds of vehicles, helping drivers stay on the road safely. As well as road risks and liability, insurance for MOT centres will generally cover business premises, tools and equipment, and stock of vehicle cover. The key insurance for MOT centres we provide is cover for the loss of your MOT License.
New and Used Car Sales and Dealerships
Those selling new and/or used cars often require insurance for stock of vehicles, money kept onsite and demonstration cover as well as the standard road risks and liability insurance.
If selling from a dealership, business premises cover is also important in case of fire, flooding or theft.
Roadside recovery operators are often out providing roadside assistance, retrieving vehicles and supporting drivers with onward travel. For this they require multiple business vehicles, including recovery vehicles, which can be covered under a motor traders combined insurance policy.
These types of businesses also benefit from business interruption cover, stock of vehicle cover and tools and equipment insurance.
Classic Car Restoration
Working on classic cars is often seen as an at-home hobby, but if you go drive or sell these cars at all, you still need insurance.
As well as road risks and liability, classic car restorers’ insurance can include service indemnity, tool insurance, demo cover and stock of vehicle cover. Business premises cover may be necessary even if you are working on classic cars at home.
What Does Traders’ Combined Insurance Include?
Motor Traders’ Combined Insurance refers to any combination of policies specifically designed for businesses working in the motor trade.
Road Risks Insurance
Employers’ Liability Cover
This is sometimes known as Workers’ Compensation insurance, and is particularly important. If you employ anyone at all, you are legally required to have Employers’ Liability Insurance to ensure any illness or accident can be effectively compensated.
We can arrange cover on a per-person basis or rated by the company turnover and wage roll, depending on what is most suitable.
Public Liability Cover
Service and Sales Indemnity
Stock Of Vehicle Cover
Business Premises Cover
Insurance for business premises, whether it’s a dealership, garage, workshop, warehouse or something else. A commercial property insurance policy may include:
- Buildings insurance – this helps to pay for repairs or rebuilding of business premises in the event of a fire or flood. It’s important to check your policy to ensure the right circumstances are covered.
- Contents insurance – covers business items, such as stock and equipment, in the event of loss, theft or damage. Varying stock levels will require regular insurance updates to ensure everything is covered, so be aware of administrative fees for this.
- Fixtures and Fittings insurance – covers items that aren’t stock or part of the building, such as machinery or tools.
Equipment and Tool insurance covers the cost of replacing tools if they are lost or damaged. This may occur due to fire, flooding or theft. This is important as tools can be valuable and expensive to replace. Typical tool cover includes:
- Handheld tools (screwdrivers, pliers, wirecutters)
- Power tools (drills, sanders, angle grinders, paint sprayers)
- Diagnostic equipment (battery testers, relay testers, etc.)
- Owned, loaned, leased or hire-purchased tools
Business Interruption Cover
In certain circumstances, your business may not be able to operate as usual, such as the breakdown of key equipment, or severe damage to your premises or equipment due to a fire, storm or flooding. Business Interruption insurance can cover the loss of income from these situations.
Loss Of MOT Licence
Directors’ And Officers’ Insurance
Directors’ and officers’ (D&O) liability insurance covers the cost of compensation claims made against your business’s directors and key managers (officers) for alleged wrongful acts, such as breach of trust, breach of duty, neglect, error, or wrongful trading. Claims may be made against directors and officers by shareholders, investors, employees, regulators or third parties, and may result in:
- disqualification from holding the position of director
- civil proceedings which can lead to hefty legal costs and awards for damages
- criminal prosecution which can lead to fines and possible imprisonment
Directors’ and Officers’ insurance can help key people in your business defend themselves against accusations in these veins, reducing business disruption and financial impacts.
Choose Nash Warren For Combined Motor Trade Insurance
At Nash Warren, we do all we can to provide the best cover for the cheapest price for your business. Our combined motor trade insurance offer includes:
- All types of No Claims Discount accepted including; Named Driver Discount, Mirrored Bonus, Private Car, Commercial Vehicle, Taxi and Motor Trade.
- Split indemnity for personal and customers’ vehicles, making your premium even cheaper.
- Dedicated point of contact for your Motor Trade renewal.
- 24/7 claims line number – 0800 205 5589
- Scheme discounts for certain motor trades.
- Windscreen Cover for personally owned vehicles.
- Competitive rates for drivers with convictions on licence.
- Very competitive premiums for Full and Part-time motor traders.
We have over 30 years experience of in supplying affordable trader policies to the motor industry. During this time we have worked with a range of companies, providing valeters insurance, mechanics insurance, vehicle delivery insurance, garage insurance, tyre fitter insurance and used car dealership insurance to thousands of happy customers across the UK. Our clients obtain full access to the Motor Insurance Database. We have excellent independent customer reviews from Feefo.
Frequently Asked Questions
What is Motor Trade Combined?
Combined motor trade insurance is a combination of insurance policies that offer protection to your motor trade business. It brings together multiple levels of cover under a single policy these can include but are not limited:
- Road risk insurance
- Material damage at the premises
- Public and Employers Liability
- Engineering Inspection Cover
- Goods In Transit
- Money and Personal Accident
- Wrongful Conversion
- Defective workmanship
- Business interruption cover
- Loan and Hire Vehicles
When taking details, we will always ask for the cover that you need to ensure the policy specifically caters for your business needs. Should you be unsure what the covers are or whether you need them, please ask and we’ll happily explain.
Who needs motor trade combined insurance?
Anyone working in the motor trade industry at a business premises should consider motor trade combined insurance. Although it’s not mandatory, it’s a valuable option for extra business protection. Otherwise, you may need to cover the cost of compensation claims yourself. Since every motor trade business is unique, we can adapt traders’ combined insurance to suit a wide range of dealerships and garages, whether working on a full-time or part-time basis. These can include:
- New and used dealerships and car sales garages
- Service and repair garages
- MOT stations
- Body shops
- Exhaust and tyre fitting services
Are there different levels of coverage available?
Yes, all of our combined motor trade insurance policies are designed to be flexible and adaptable to provide the right amount of coverage for your business, at the right price.
Is roadside assistance included in the coverage?
No Roadside assistance is not included, however, we do offer this as a separate product, please ask for details if you are interested.
Are there any restrictions on the age or type of vehicles that can be covered?
This is all dependent on the insurance company that we are quoting with, motor trade combined policies are designed to give a little more flexibility than a road risk policy so if you require cover for younger drivers, we can look to accommodate this providing the risk fits the insurer.
What is the process for making a claim under Combined Motor Trade Insurance?
Just like any other insurance claim, simply contact the insurer and provide details of the claim. You will have all of these details provided with your insurance schedule.
Is there a limit to the number of claims I can make in a year?
This depends on your particular policy. Some insurance policies place limits on annual claims to lower your insurance premium and to mitigate the risks of insurance fraud.
Are there any additional services or benefits included in the policy?
As standard under motor trade combined policies, you will receive legal expenses cover and windscreen cover, other benefits depend upon the insurer we place the policy with, some insurers include risk assist, vehicles in transit, basic money cover, and engineering insurance, please ask for more details.
Can I add coverage for drivers or employees who operate the insured vehicles?
Yes, we can offer cover for Motor Trade use only, or Social, Domestic and Pleasure use, it is important to remember that any employees that have social use are not permitted to use their own vehicles. Social use applies to the policyholders’ vehicles or vehicles registered to the business.
What factors can affect the premium for Motor Trade Breakdown Insurance?
Premiums can be affected by a number of different factors this can including but not limited to the;
- Sums insured
- Number of drivers
- Business activity
- Level of no-claims bonus
- Number of years of experience
What should I do if I plan to change my motor trade business or add/remove vehicles from my coverage?
Before any changes take place it is always best to call us to discuss any changes you are thinking of making to the business especially where it concerns amending the business activity or changing the business name. With respect to vehicle updates most insurers will allow access to a MID portal to allow you to add and remove vehicles, under Motor Trade combined policies you are only required to add Trade Plates or any vehicles that are being used frequently or for personal use, any stock vehicles or customers vehicles should not be added.