What Does Motor Trade Insurance Cover?

Thu 15 September 2016

Lowering expenses in your UK motor trade business means more profit for you. One of the ways you can do this is to have the right motor trade insurance for your business, whether it is a start-up or an established business. This insurance covers every business from body shops to mechanical workshops, car restoration, car dealerships and tire companies. 

As a company you might understand the need for the right motor trade insurance cover for your company, but you might not understand the inclusions in the insurance package. Here is a run-down of what you should expect.

Premises Cover

You undertake your business from a building. This is where you store your materials and equipment, and serve your clients on daily basis. It is therefore vital that you get the right cover for the premises. Motor trade insurance provides cover against theft, fire and natural calamities. 

Additionally, you can get loss of income cover. Here, you get covered in case your premises get damaged and you are unable to do business. The cover provides cash to enable you pay salaries and bills.

Tools and Equipment Cover

As a business, you must have invested heavily in expensive tools and equipment to make sure you give the best services to your customers. But what happens when the equipment gets damaged by fire? Motor trade insurance cover provides for replacements quickly to enable you continue serving your customers.

Public Liability Cover

It only takes slipping on an oil spill or a badly placed tool to cause injury to a customer who has just walked into your premises. This is why public liability cover is included in the motor trade policy - to cushion you against claims running into thousands of dollars in case of injury to visitors.

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