What type of insurance does a motor trader need?

What is the difference between a Motor Trade policy and an ordinary business insurance policy? What is the difference between a Motor Trade policy and an ordinary business insurance policy?

Added on Monday 30th November 2020

The insurance under a motor trade policy is unique in that it allows clients to not only insure their own vehicles, but also covers any customer’s vehicles for Motor Trade purposes – such as when buying and selling cars, vans and other vehicles, repairing and servicing them and even when valeting them. The documents are issued so that the vehicles covered can be added and removed frequently without constantly getting paperwork updated vital for these types of business, to ease the admin burden on the policyholder.

Alongside the cover for Road Risks you can also be insured for a full selection of additional covers to protect businesses with employees, motor traders operating their business from the home, with separate premises and/or the need to carry customer’s vehicles on transporters, trailers etc. Any businesses with Lifting or Pressure equipment which needs a Statutory Inspection under LOLER or other regulations can be offered protection for the necessary Certification of these items either as part of a Motor Trade Package or a stand alone Engineering Inspection policy.

There are many trades ancillary to the motor trade including Paint and Dent repair technicians, in car entertainment technicians and car valeting companies. Reid Briggs Insurance Brokers specialises in cover for those engaged in Motor Vehicle Inspection work, Independent Consulting Motor Engineers and Engineers who need to road test customer cars and also offer cover solutions for your particular Liability and Indemnity cover requirements in this niche sector of the Motor Trade arena.

The number of insurers willing and able to offer this class of insurance has diminished over recent years and we maintain good links with those insurers who are still able to offer these products. If you think you might need this type of cover, do contact Kevin Barnard on 01323 438843 and we will do the searching for you.