A motor trade insurance policy is a specialist insurance policy, with some of the following benefits:
- You can drive all of your own private and commercial vehicles under one policy (up to certain limits). This is called a road risk policy.
- You can drive your client vehicles under one policy (so you will be covered if you pick up a clients vehicle, work on it and return it)
- You will receive blank insurance discs that you can put on multiple vehicles.
- You can name additional drivers on the policy if they are working with you.
- You can include internal risks cover to the policy (such as public/employers liability, property damage, defective workmanship etc.)
If you are currently trying to drive your own vehicle and run a motor trade business (mechanic, valeting, panel beating etc.) then you should seriously consider one of these policies.
Great, this sounds like a great way of insuring all of my vehicles, how can I sign up?
It doesn’t quite work like that. Motor trade insurance is only for those in the motor trade, either part time or full time, and insurers will expect you to have proof you are involved in the trade before quoting a motor trade policy. If you are just looking to insure multiple vehicles, we have other policies that we can organise for you, such as a motor fleet policy.
Will the premium be very expensive for a motor trade policy?
It really those depend, as these policies are very open ended on what a policy holder can drive, young drivers are usually fairly heavily loaded. In saying that, if you have proof that you are in the motor trade, have a earned no claim bonus (or driving experience under a trade policy) then these policies can be excellent value for money. They can also limit the danger of you driving uninsured on a customer vehicle, which is of huge benefit.
How can I keep the premium of a motor trade policy manageable?
- Be over 23. Young drivers tend to have very high premiums for these type of policies.
- Have proof that you are involved in the motor trade.
- Be involved full time in the trade rather than part time (part time rates are usually higher).
- Try to limit ownership of high performance or unusual vehicles.
- Have a no claim bonus or a track record of driving under a motor trade policy.
- Look for a combined motor (road risk) and internal risk (property damage etc.) policy, as this can open up more companies to quote and can often be better value.
So if you think a motor trade policy is for you, contact us today. We have over 50 years experience in motor trade insurance and will source the correct policy for you from our panel of insurers. Complete our contact form or call us on 0818919699.