Motor Trade Insurance Is Essential, and Here's 5 Reasons Why

When it comes to your motor trade insurance, you need to have the best possible cover to keep your business protected at all times. Here are five reasons why you cannot be without this cover.

Driving Customer Vehicles

One of the biggest risks you face in your industry whether you are repairing vehicles or selling them is driving customer vehicles. You need to drive these vehicles to find faults, check repairs have been carried out effectively and determine whether you want to buy them to sell on your forecourt.

What you may find is that you are offered three types of road risks cover. There is the third party cover, the thirty party fire and theft cover and then the comprehensive cover. The comprehensive cover is the safest option for any business as it protects both the third party vehicle or property and your customer vehicle.

Customers Driving Your Vehicles

If you are in the car sales sector of the industry, your biggest risk is enabling customers to get into vehicles you have for sale and heading out onto the UK roads. This is money you have already spent and it's profits that are driving off to be test driven.

Demonstration cover offers you the cover you need to enable customers to test drive vehicles before they buy without you having to worry about losing money should they be involved in an accident.

Customers Visiting Your Property

Your work is dangerous and there are a lot of things that can go wrong and one of them is a customer injuring themselves while visiting your property. It can be the smallest incident such as a trip when they stand in some oil which hasn't been cleaned up, but that little trip can leave you in serious financial difficulty.

You may not be aware but you are legally responsible for any claims against you when it comes to public liability, this can mean that if you do not have cover or adequate cover, you will need to pay the claim out from your bank account.

Your Staff

It is a legal requirement in the UK to have employer's liability cover when you hire one or more staff members. This cover protects you should a staff member injure themselves at work. They can claim for loss of income while they recover and if you have the right protection in place this will not leave you with an empty bank account.

Protect Your Equipment

Over and above your actual building, you need to know that your tools and equipment are protected. Some of this equipment can be extremely expensive especially when talking about diagnostic equipment. You can enjoy peace of mind with your motor trade insurance by knowing that all your tools and equipment are protected against fire, theft or damage.