Any motor trade business in the UK needs to consider the right type of insurance. Below is a guide to common types of motor trade cover and ways to manage the cost.
Types of cover
- Road risks – Road risks cover is important for many motor trade businesses. If you handle customer vehicles, test drive vehicles, buy and sell vehicles, or move vehicles as part of your work, you need cover for road use.
- Liability claims – Liability claims are a significant risk for business owners. Motor trade policies often include public liability and employers’ liability, depending on how the business operates.
- Legal expenses – Liability cover is not always enough on its own. If a claim is disputed, legal expenses cover can help with the cost of defending your position.
- Combined motor trade insurance – A combined policy can bring together road risks, liability, premises, tools, stock, and cash cover.
How to save money
Below are some ways to keep motor trade insurance costs under control.
- Get several quotes – Comparing quotes from different providers can make it easier to choose suitable cover. Clean Green Cars now has a dedicated page for motor trade insurance.
- Make premises secure – Good locks, controlled entry, security lighting, CCTV, and sensible storage for keys and tools can all reduce risk.
- Pay upfront – Paying annually is often cheaper overall than spreading the cost monthly, if the business can manage the upfront payment.