The essential guide to motor trade insurance
If you're operating a small business out of your house, or you're in charge of a massive company employing hundreds of people at proper premises, you'll need to be protected by comprehensive insurance. Whether you're running a firm specialising in import vehicles, luxury sports cars or vintage motors - so long as it's selling, building, repairing, transporting or financing vehicles, motor trade insurance is necessary. By seeking comprehensive trade insurance by Staveley Head, you could protect your business against many issues.
Covering your company against unexpected losses, motor trade insurance protects against fire, accidents, liability and theft. It is seen as prudent to pick the correct coverage to minimise premiums and maximise coverage options over months or years.
Sometimes, it is very much worth consulting an insurance broker in this situation, though it may cost you more to start with. However, this approach may save you plenty over time as such people can secure better rates due to the number of insurers they work with. Their unique buying power also lets them get hold of better coverage at lower prices.
Nonetheless, be sure to understand that motor trade policies offer flexibility as standard. As long as a policy has coverage for your specific business, you should be fine. There are plenty of classes of motor trade insurance, though the main one is road risk insurance, covering vehicles that are under control of the business or belong to it outright.
Still, road risk insurance does not cover private vehicles of directors but it can be extended to include pleasure and social domestic use as well as non-employee drivers. This is still not standard practice, though - you will need to let a broker know if you need this. Policies sometimes come with a maximum amount payable; trade plates need to be declared for the vehicles to be insured.
Of course, you'll probably want to consider a range of additional policies to tack onto overall insurance whether it's business interruption, loss of money, property damage, or loss of goods in transit. Be safe in the knowledge that you have everything you need, however, as you may be caught out when you least expect.