Park Insurance understands the motor trade industry and its trade-specific issues which can have a serious impact on your business, but they cannot all be catered for by a standard insurance policy. You need expert advice on motor trade insurance.
We offer a wide range of motor trade policies with a panel of leading insurers including Aviva, Axa, Allianz, Chaucer, Nig, and Tradex. We are able to arrange cover that suit businesses ranging from single-site car sales right up to large franchised dealer groups and all forms of body repair shops and repair and service outlets.
We can insure you for many motor trade professions including:
- New and Used Car Dealerships
- Service, Repair and MOT garages
- Mobile Mechanics
- Windscreen Fitters
- Body Shops
What is car trade insurance?
In essence, motor trade insurance is a policy that offers cover for your business while you or your employees work on and drive vehicles in your care or that are owned by your business.
It is an umbrella term that encompasses a range of motor trade policies tailored to best reflect the needs of the individual business. The selection of cover allows you to protect all aspects of your business. You can protect the vehicles you’re working on or that you sell within your business and your premises and any equipment used. You can also take out cover for claims made against you by public and staff members for personal injury and property damage.
What is road risk cover?
Motor trade insurance brokers will often put road risk cover as the foundation of a motor trade insurance policy. It allows you to drive vehicles in your care, custody, or control with sufficient insurance coverage as per UK law. This could be a vehicle that is being repaired by a garage or a car that you’re selling on your car lot.
Like standard car insurance, road risk cover is chosen at one of three levels: third party only (the minimum level you must hold), third party, fire, and theft, or comprehensive.
If you are working from home then we also have a Road Risks only solution Designed for the working from home motor trader or mobile mechanic, full or part time. Cover can either be Comprehensive, Third Party Fire & Theft or Third Party Only.
Cover is available for Public Liability, Employees Liability and Products-Sales & Service Indemnity.
- Combined Motor Trade Policy
- Road Risks Only
- Public/Products Liability
- Employers Liability
- Business Interruption
- Tools and Contents
- Medical Insurance
- Gap Insurance
- Directors & Officers Insurance
- Defective Workmanship
- Unaccompanied Demonstrations
Do I need liability cover?
If you’re dealing with members of the public and especially if they visit your premises, liability cover makes sound financial sense. Often, this will include a combination of covers, such as:
- Public liability – To protect you should a member of the public injure themselves while on your premises, for example, by tripping over your equipment. You can also use this cover should your business cause damage to someone’s personal property.
- Employer’s liability – A legal requirement in the UK if you hire staff. Make sure your motor trade insurance policy holds at least £5 million of cover, and you can use this should an employee claim compensation for illness or injury pertaining to their time under your employment.
- Product liability – For if a product you’ve used on a vehicle or supplied to a customer turns out to be defective, for example, a faulty car part. This can be augmented with sales and service indemnity, which is used if a vehicle your business has repaired or sold then causes injury or damage to a member of the public, or to someone’s property because of your work on it.
I repair vehicles from my home – do I need motor trade insurance?
If you work on cars from home in your spare time for some additional income, you might like to consider part-time motor trade insurance. Though vehicle repairs may not be your full-time job, you’re still vulnerable to a range of risks by carrying out this work from home.
Contact Park Insurance today if you’d like a motor trade insurance quote tailored to reflect your company’s needs perfectly.
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