Do you have a passion for cars? Are you thinking of buying and selling car or handling repairs in your spare time to make extra cash? When you work with cars in your spare time you need to consider getting part time motor trade insurance to protect yourself against any claims against you.
You’re probably thinking that you only fix one car a week or only sell one car every couple of weeks, but not having the right cover can leave you in financial distress.
If you work on cars in your spare time you need to ensure you have public liability cover, enabling customers to visit your property without any concerns and you need to have road risks cover, so you can drive customer cars without any worries.
The smallest accident in a customer vehicle while out on a test drive or something as simple as a customer falling down a step while leaving your property can leave you in financial distress. You may think it’s not worthwhile because you only work on the vehicle a couple of hours each week, but you will be surprised how quickly you will change your mind once something happens.
The same applies if you intend buying and selling cars on weekends. You will need to drive cars to see if they’re what you want to sell and you will have to allow customers to test drive cars before they purchase. Having road risks and demonstration cover enable you to do this with complete peace of mind.
Getting this type of cover is easy. There are lots of reputable companies willing to give you a quote. You will need to keep records of all your sales and prove that you do have a full time job where you pay through the PAYE system. You will also be required to have a valid UK or EU driving license.
If you work on cars for family members and don’t charge for the work carried out, this is not covered under this policy. You may be required to offer proof of your invoices to show that you accept money for services rendered.
The advantage with this type of policy is you can include your spouse as a driver and cancel your personal cover, this will reduce your premiums and only require you pay one premium to cover everything.
Before you start trading in your spare time, ensure you have a good part time motor trade insurance policy in place to protect you financially from disaster.
You’re probably thinking that you only fix one car a week or only sell one car every couple of weeks, but not having the right cover can leave you in financial distress.
If you work on cars in your spare time you need to ensure you have public liability cover, enabling customers to visit your property without any concerns and you need to have road risks cover, so you can drive customer cars without any worries.
The smallest accident in a customer vehicle while out on a test drive or something as simple as a customer falling down a step while leaving your property can leave you in financial distress. You may think it’s not worthwhile because you only work on the vehicle a couple of hours each week, but you will be surprised how quickly you will change your mind once something happens.
The same applies if you intend buying and selling cars on weekends. You will need to drive cars to see if they’re what you want to sell and you will have to allow customers to test drive cars before they purchase. Having road risks and demonstration cover enable you to do this with complete peace of mind.
Getting this type of cover is easy. There are lots of reputable companies willing to give you a quote. You will need to keep records of all your sales and prove that you do have a full time job where you pay through the PAYE system. You will also be required to have a valid UK or EU driving license.
If you work on cars for family members and don’t charge for the work carried out, this is not covered under this policy. You may be required to offer proof of your invoices to show that you accept money for services rendered.
The advantage with this type of policy is you can include your spouse as a driver and cancel your personal cover, this will reduce your premiums and only require you pay one premium to cover everything.
Before you start trading in your spare time, ensure you have a good part time motor trade insurance policy in place to protect you financially from disaster.
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