Which specialist covers might someone working in the motor trade need?
The specifics of the Traders Insurance policy you need will vary depending on nature of your business.
Accompanied Demonstration use – Whether you are selling cars, motorcycles or any other vehicle, it’s likely that your customers may wish to ‘try before they buy’. Cover can be arranged to allow that to happen.
Road Risk – In addition to customers wanting to test drive vehicles, you will need to be able to drive all vehicles in your custody and control. That might include your own business vehicles as well as stock and customers vehicles that you need to pick up and deliver, or drive for diagnostic purposes.
Standard business insurance covers that someone working in the motor trade may need
Beyond these considerations, there are a number of underlying covers that a motor traders insurance policy is likely to include. These may be:
- Motor Traders Public Liability Insurance. It’s likely that members of the public – your customers – will visit your premises. Whether they’re wandering around the forecourt or sitting in the waiting area while you change a tyre, you could face a claim if something were to go wrong.
- Motor Traders Employers Liability Insurance. If you have one or more employees, even on a casual or part-time basis, you will be required by law to have Employers Liability cover.
- Product Liability Insurance. You are very likely to need Product Liability Insurance if you supply parts to be fitted to a vehicle as part of a repair service. If the part was to fail and cause an accident at a later date, you could face claims as the supplier of the faulty part, even where you didn’t actually manufacture it yourself.
- Material Damage – Buildings, Contents, tools, machinery and plant etc