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Motor Trade Insurance
The term ‘motor trade’ is broad and encompasses a unique set of businesses. Motor trade insurance brings together a blend of motor and business insurances to provide cover for all aspects of your business including employees, tools and property, vehicles, liabilities and your day-to-day business activities.
- Standard public liability limit of £5million
- Employers liability £10million
- Full cover for loan cars
- Cover for vehicle recovery
- All trades considered
- Cover for diversified businesses
The S-Tech Difference
We really understand the motor trade and know how varied each business is – and therefore how important it is to get the right cover for your activities. This isn’t always possible when purchasing your insurance online. We believe in the personal touch and our experts will explain what covers are required to ensure your business is fully protected. If you value your business we believe you’ll value our advice.
Product detail
The cover you require depends on the type of motor trade business you operate. Covers available when purchasing motor trade insurance include:
- Public liability Aside from customers slips, trips and falls, this would cover you for liability arising out of your everyday activities e.g. defective workmanship, faulty goods and services.
- Business interruption In the event of certain claims (e.g. fire) you would be able to claim for loss of earnings and/or additional costs to relocate your business temporarily to ensure continued operation.
- Property damage Damage to your business premises and relevant fixtures and fittings.
- Portable tools Loss or damage to tools while in use, both on and off premises e.g. diagnostic equipment.
- Wrongful conversion Cover for incorrect HPI and Experian checks for vehicle sales
- Road risks Cover for own vehicles, customers’ vehicles and loaned vehicles while being driven.
- Damage to customers' vehicles Covers customers' vehicles damaged while in your care e.g. theft, fire.
- Customers’ loads Cover for commercial customers’ tools and equipment in your care.
There are also additional covers available that we would recommend dependent on your type of business.
- Cyber liability Protects businesses for costs occurring from a data breach or loss of information.
- Directors' & Officers' Covers the cost of compensation claims and defence costs against the business’ directors.
There are a multitude of covers available and our experienced staff are there to support you with your business insurance requirements.
Some of these covers are only added when requested, or if they are added may have limited cover. It is important when you compare motor trade insurance quotes you ensure you are comparing them on a like for like basis.
It is essential the correct ownership of business and personal vehicles is declared to ensure the right cover is in place e.g. director vehicles are often not covered unless specifically noted.
Ensure all motoring claims and convictions are advised as failure to do so could invalidate your business’ insurance.
All business activities no matter how minimal must be declared to ensure the correct cover is obtained.
FAQs
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Motor trade insurance will cover the insurance needs of your business – both commercial and motor. Outside of the motor trade industry, most companies have to take out both a business policy and a motor policy. For motor traders both are covered under the one policy.
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No, there is no difference. They are all terms used for motor trade insurance.
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Yes you can, although the rating will be dependent on experience.
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If you work in the motor trade and either employ people or drive cars then there is a legal requirement to have valid insurance.
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The MID was setup to comply with an EU Directive, which requires insurance details of all vehicles in member states can be easily accessed by a national information centre. We will work with you and your insurance company to ensure you comply with this directive.
Continuous Insurance Enforcement (CIE) has been implemented to reduce the number of uninsured drivers. Under CIE, the registered keeper of a vehicle will be sent an Advisory Letter if it appears that the vehicle has no insurance unless it has a valid Statutory Off Road Notice (SORN).
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This all depends on how the policy has been setup. There are two main ways to setup a policy, either on a named-driver or any-driver basis. It makes sense to plan who you want to drive as the tighter the restrictions on driving, generally the better the premium. For example, you can restrict any driver to business-use only.
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