What is Motor Trade Insurance?
We can help you find competitive Motor Trade Insurance, tailored to the needs of your business. We have a thorough understanding of the motor trade and strong relationships with major insurers.
A Motor Trade Insurance policy is designed to meet the very specific needs of motor traders. Compared with other businesses, motor traders work with a large number of vehicles, usually for a short period of time.
They might also be entrusted with customers’ vehicles and so they need specific cover to allow them to drive customers’ cars whilst in their care. The motor trade is very varied and can include large dealerships that also offer servicing, petrol sales or breakdown recovery.
Motor Trade Insurance can be tailored to the specific needs of each motor trader, from the small specialist to a large dealership offering a full range of services.
What is covered by Motor Trade Insurance?
The exact cover will vary, based on the needs of the trader but the following are common examples of activities that might be covered under the policy:
- Road Risks cover, enabling the trader and their staff to drive customers’ vehicles, take customers on test drives or drive other cars owned by the trader.
- Servicing, repair and MOT testing
- Breakdown and recovery
- Vehicle collection and delivery, including operating transporters
Road risks is one of the most important sections of the policy for many motor traders. It simply isn’t practical for a motor trader to individually insure every vehicle they might drive in a given year.
Instead, they simply need to agree the terms on which the policy will be arranged. For example, the policy might only cover named drivers, or drivers who meet specific criteria (for example, drivers over 25 with no convictions). The premium will vary based on the specific requirements.
Helping you manage your Health & Safety obligations
As well as covering the specific needs of motor traders, a policy will usually include many of the covers required by businesses in general. The following covers can also be included as standard on a Motor Trade Insurance policy:
- Material Damage cover for buildings and stock.
- Business Interruption, to protect against loss of business following a claim under the Material Damage section.
- Public and Employers’ Liability to protect the public and your employees against injuries or property damage.
- Cyber Liability cover to protect against online fraud and cyber attacks.
- Trade Credit Insurance to protect against bad debts from customers.
These are just a few examples of the additional covers we can provide. These will typically be included under the same policy, but we can arrange standalone policies if they better suit your needs.
How we can help with your Motor Trade Insurance
We’ve helped many businesses with their insurance requirements since 1924, including a number of motor traders. Now, as part of the JMG Group, we’re a top-30 UK insurance broker. Our strong relationships with insurers – including experienced Motor Trade specialists – help us to find you the right cover at competitive premiums.
Because the motor trade is so varied, we’ll make sure we understand exactly what you offer and help you find exactly what you need, without paying for cover that’s not necessary.
In the event of a claim, we use our experience of the sector and our in-depth knowledge of the cover, to help you resolve your claim as promptly as we can, without taking up a great deal of your time and resources.
Contact us to discuss your Motor Trade Insurance
If you’d like to arrange a quote, or simply to discuss your Motor Trade Insurance, contact our Liverpool office or our Gloucester office and we’ll be happy to discuss your requirements with you.