Finance, LEGAL

The Various Business Types Being Helped by Motor Trader Policies

Motor trader policies are helping a variety of businesses that involve themselves with the vehicles of their customers. To help find the right policy, there are insurance brokers that businesses can turn to. You might say, why choose this broker we have just found, as opposed to the one we noticed online last week? Well, it does matter because they all deal with different insurance companies. We will want them to find us the most competitive quote as well as the one that offers the cover we need.

As you can imagine, motor trader insurance is quite specialist, so our options are reduced. So, it pays to have somewhere to turn that is a trusted source.

Businesses need motor trader insurance to protect themselves from several risks, including motor trade and public liability. By having this type of insurance, business owners can feel more secure in the knowledge that they are protected financially if something goes wrong. This peace of mind is invaluable for any business, big or small.

There are many different types of businesses that motor trader policies can help. Here are just a few examples:

Auto Repair Shops

These businesses need motor trader insurance to protect themselves from the risks associated with repairing vehicles. If something goes wrong and a customer’s vehicle is damaged, the auto shop could be held liable. With motor trade insurance, the shop can have peace of mind knowing that they are protected financially.

Cover will extend to driving a customer’s vehicle from A to B as well as working on it or storing it overnight. We will want the full package for complete protection as a business and to be able to offer a full service to our customers.

The most common use for motor trader insurance is quite possibly the garage that works on vehicles, servicing them and providing MOTs. They will also offer other services where vehicles need insurance protection, such as valeting and car washing. As well as the mechanical side of a vehicle, some garages will specialise in bodywork and the fitting of exhausts and tyres. All these kinds of businesses need the back-up of having insurance in case something should go wrong and potentially have financial consequences in terms of liability.

Car Dealerships

Car dealerships will want to have motor trader insurance so that they are covered in respect of the risks associated with selling vehicles. If a customer buys a car and it turns out to be faulty, the dealership could be held liable. With motor trader insurance, the dealership is also covered when moving vehicles around the forecourt or when taking them on test runs.

The vehicles in question will be ones from the manufacturer that are not yet sold, so nobody else will be insuring. The vehicles will be brand new and perhaps luxury models and so worth more money than a business can afford to lose. It pays to have protection for not just the liability of damaging another’s vehicle but also for the vehicle on the forecourt.

Towing Companies

Towing companies will require motor trader insurance when towing vehicles. If a vehicle is damaged while being towed, the company could be held liable. With motor trader insurance, the company can be protected financially should there be a collision. This is more likely when control is less and visibility is not as good.

These are just a few examples of the different types of businesses that motor trader policies can help. If you own a business that deals with vehicles in any way, it’s important to make sure you have the right insurance in place to protect yourself from the risks associated with your business. It could wipe out a business’s finances should an incident occur that was not insured for. This would have consequences for its owner and all the staff working for the business.