Trading cars as a second job? Where to find the right insurance

Do you have a passion for cars? You have an eye for cars that are good
purchases, which can be sold on at a profit? If you are thinking of trading cars
in your spare time, then you need to find the right insurance that will cover you
in the event of an accident. It is likely that your best solution will be to consider a part time motor trade policy.

With technology offering us so many ways of searching for information, finding
insurance cover on the internet is the easiest and quickest solution, but is this
the correct choice for your second job?

When considering a policy, you need to take the following into account:

- Are you going to allow customers to drive your vehicles

- Are you going to work from home or are you going to rent a garage
- Are you going to be hiring any staff members to help you
- Are staff members also going to be driving the vehicles you have for sale

Once you have considered all these factors, you will be able to determine
your cover requirements.

Over and above internet searches, it is advisable to talk to other dealers in the
area and see who their policy is with. Also find out if they are happy with their
cover and have they had any problems with the company.

When covering your second business you need to ensure that you are dealing
with a reputable and reliable company, it is your profits you are going to be
using to pay for this cover and you need to be assured that they are going to
work with you when you need them the most.

Always get more than one quote, contact a couple of companies and see if
they can tailor the policy to meet your business needs. Ensure that the policy
they offer you includes roads risks and you can add multiple drivers when
you hire new staff, this way both you and staff can drive the vehicles you are
considering purchasing.

Ensure that along with the road risks they will include demonstration cover
into the policy, enabling customers to drive the vehicles you have for
sale. Spending your company profits on buying cars for sale only to have
them involved in an accident without the right cover can leave your business
in ruins.

Does the company protect your no claims bonus? Can you use your personal
no claims to reduce your business premiums? And lastly, do they offer
employee and public liability cover?

Finding the right insurance is not difficult; it’s knowing what you need for your
business and finding the company who is willing to tailor your policy to suit
those needs. Investigate thoroughly into which motor trade insurance policy is
likely to suit your business best.
 

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Get Part Time Motor Trade Insurance If You Sell or Repair Cars in Your Spare Time

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.