What is Part-Time Motor Trade Insurance?
Trader’s Insurance for Part-Time operations
For businesses in the motor trade industry, such as mechanics, body shops and dealerships, insurance is an important security to prevent financial loss. However, not all motor trade businesses run full-time, so might need a different type of insurance. If you’re upgrading cars as a side hustle, or are only running your mobile mechanic business on certain days, you need part-time motor trade insurance.
Part-time motor trade insurance is tailored to your business needs.
This type of insurance allows people to work on motor trade activities part-time, whether they’re weekend car dealers or old car hobbyists, with all the cover they need in place.
This type of policy means you can register vehicles for the Motor Insurance Database (MID) as you sell them. A part-time car trade insurance policy will also cover your own vehicles, and other vehicle uses and types can be added as needed.
Nash Warren can help you find the best part-time motor trade insurance for your business because we have a wide range of flexible policies available at competitive rates. Get in touch to discuss insurance options.
Do I need Part-Time Motor Trade Insurance?
Anyone with a part-time business in the motor trade, even if it’s not their main job, needs motor trade insurance part-time. These policies can offer protection if you face liability claims, financial loss or recovery fees, and without insurance, you would be left to fund these yourself.
What Cover is Included?
Part-time motor traders’ insurance can bring together multiple different types of coverage under one policy. These types of protection can be included in your part-time motor traders’ insurance policy:
Road Risks – for motor traders, this covers you to drive cars in your possession, including customers’ cars and those you’re working with.
Demonstration – This allows customers to test-drive vehicles they intend to purchase from you
Tools in Transit – This covers the cost of replacing or repairing tools and equipment stored in your vehicle if they are stolen or damaged during a fire or accident.
Employers’ Liability – To pay any compensation and legal fees when employees make a claim after an accident at work.
Public Liability – To pay compensation and legal fees in any public liability claims relating to injury, accidents, and damage to personal property.
Premises Cover – This covers the cost of repairing or rebuilding your business premises, such as a garage, in the event of fires, floods, and other damage. Some premises policies also relate to contents such as tools and equipment.
Refurbishment and Restoration – This covers the cost of restoring or refurbishing vehicles you own if the loss results from theft, damage or fire.
How to Get the Best Part-Time Trade Insurance?
Each policy in part-time trade insurance has different costs and benefits, and the type you need depends on the specific risks of your business.
You can lower the cost of your part-time motor trade insurance by combining policies and building up a good no-claims record. You should also take into account other factors which may impact the overall cost. Insurers may consider:
- The type of motor trade business you run
- The location of your business premises
- Business size and revenue
- The number of days your business operates
- The number of employees and their age
- The value and age of your vehicles
- The value of your tools and equipment
- Previous claims history
Get Part-Time Motor Traders’ Insurance with Nash Warren
Part-time Motor Trade Insurance or part-time car trade insurance has many parts, and it can be complicated to figure out exactly what you need. At Nash Warren, we can help with a wide range of policies for businesses of all sizes, tailored to your business. We don’t deal in legal jargon, so you’ll have a simple, straightforward service and benefit from over 30 years’ of experience in our team.