TOP 4 MOTOR TRADE ROAD RISK INSURANCE QUESTIONS
If you buy, sell, clean, valet, repair or drive customers vehicles on the road or around your premises as part of your business activities, you most likely need motor trade insurance. It is important that your motor trade insurance offers the right cover for what you do and what could possibly happen.
Nash Warren are experts at offering cheap motor trade insurance with the right amount of cover for your requirements. We use our expertise and experience to guide you through the options you have when taking out a motor trade policy and deliver to you the right insurance cover at the best price.
To get you started below are the top 4 questions to ask yourself when you are considering taking out a motor trade insurance policy.
Top 4 Motor Trade Insurance Questions
1. HOW AND WHERE DO I OPERATE?
Motor Trade Road Risk insurance policies are road risks only policies which covers you when driving customer or stock vehicles on the road. Ordinarily, your own personal vehicles are also covered. Bare in mind, however, that personal and stock vehicles are usually covered up to trade value, which is often less than the true market value of your vehicle.
If you trade from home, then subject to cover being agreed, the vehicles will also be covered from your residential address. If you trade from a business premises you may need to purchase cover in addition to the Motor Trade Road Risk policy to ensure you are adequately covered. These policies include, but aren’t limited to; Public Liability, Stock of Vehicles/Equipment Cover, Employers Liability.
2. WHO IS GOING TO DRIVE THE VEHICLES?
Motor Trade Road Risk insurance policies will vary in the number of drivers they permit on the policy. Some insurers specialise in single driver policies, whilst others can accommodate many additional drivers, often up to 5 in total.
Whilst a motor trade insurance policy is often available for drivers over the age of 19, costs can often be prohibitive for drivers under 25. More experience drivers and Motor Trade businesses that are well established, often find themselves able to obtain the cheapest motor trade quotes.
3. WHAT TYPES OF VEHICLES DO I NEED COVER FOR?
Motor Trade Road Risk insurance policies cover standard UK specification cars and commercial vehicles up to 3.5Tonnes GVW. Sports & Performance vehicles, imports, modified vehicles, motorcycles, LGV/HGV’s and other non-standard vehicle types are not covered as standard.
Specialist insurance companies exist to help fill these niche sectors so that business owners who deal with these vehicle types are still able to obtain insurance. These policies are often less restrictive, but would come at an additional premium.
If you have no intention of dealing with vehicles of this ilk, it is best to make this clear so that you can benefit from the reduced insurance quotes available for these “less risky” vehicles.
4. HOW MUCH / WHAT COVER DO I NEED?
It is important to decide what cover you want. Comprehensive Cover is often no longer the most expensive type of cover. We have schemes negotiated that often mean the premium for this higher level of cover is cheaper than the alternatives (Third Party, Fire & Theft or Third Party Only). We will ask you what indemnity limit you require cover for. This is how much cover you ask for us to provide you with in the event you need to make a claim for a personal, stock or customer vehicle. It is important to make sure that the cover you request is adequate for your business and protects you sufficiently.
NASH WARREN ARE EXPERTS IN MOTOR TRADE INSURANCE. CALL US TODAY ON 0330 053 5115 AND TALK TO ONE OF OUR KNOWLEDGEABLE AND HELPFUL STAFF.
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