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Trade Car Insurance

Trade Car Insurance

Trade car insurance can help you save money on your auto policy. It is surprising how many people don’t take the time to look for a trade car insurance quote.

Figures show that as many as one in three people are paying too much for their car insurance. They may not even be getting the coverage they need. The company can provide you with an expert guide to the car insurance market.

Trade car insurance

This can help to ensure you are finding the top deals and cutting the costs of your car insurance.

The company can offer some great tips on getting cheap car trade insurance for your car coverage. This way you can save money without having to go without essential cover. You don’t have to spend a lot of time searching for car trade insurance quotes. Here are just a few quick and easy ways to stay ahead of the game and save on your insurance costs:

• Shop Online – perhaps the easiest way to shop for trade auto insurance is online. The Internet can offer a vast range of great savings from leading insurance providers. You will be able to quickly and easily search online with the company and find some very competitive deals.
• Compare Products – figures show that you can save a significant amount of money on your Trade car insurance by comparing products. Look at at least three different quotes and see which one can off you the best cover for the best price.
• Named Driver – make sure only the main drivers of the car are added to the policy. This can save costs and you can always add additional drivers later on if you need to.
• No Claims – this is one of the most important discounts available for car insurance. A good no-claims bonus can add up to as much as 60% in premium savings. This means you should try and protect your no-claims bonus as much as possible. This could be one of the best ways you have of saving money on your car insurance.

If you are looking for the best trade car insurance then contact us today. We can offer you expert motor insurance services to save you time and money.

Trade car insurance can provide you with expert advice on car insurance. You can find out more about what policies are available and what coverage is right for you.

Why You Need Trade Car Insurance

You need it if you want to drive legally on the roads. In the USA it is a legal requirement to have adequate insurance on your car. You will need to prove you have car insurance when it comes time to renew your car tax discount.
• You will be breaking the law if you drive on the roads without motor insurance. This is a criminal offense and you can get into serious trouble if you are caught without insurance. The minimum amount of insurance you can buy is known as Third Party.
• The company can help you find the perfect policy for your budget and circumstances. Contact our experienced advisors now for further advice.

Comprehensive Trade Car Insurance

This is generally the most expensive type of insurance as it provides the most coverage. If your car is worth over $2500 it is a good idea to invest in full trade car insurance. You should also consider this type of insurance if you want to make sure you have full legal cover when you are driving. This will help you to protect your finances should you be involved in an incident.

The company can provide more information on the types of car insurance available. This can help you decide which options are best for your needs and price range.

Third-party Fire and Theft Car Insurance

This provides a good budget level of cover for your car. This will protect your finances in the event of fire or theft but will not provide as much cover as a full comp policy. This is a good option if your car is not worth much or you are on a tight budget and cannot afford to spend too much on your insurance.

Before you sign up for a new car policy, contact us. We can help you make the most of your money and ensure you make the right decisions when it comes to car insurance.

Benefits

Trade car insurance is not only a legal requirement but can also provide a number of benefits to car drivers. This type of insurance can provide vital protection for your finances should you be involved in an accident on the road. We can provide expert advice on multi-vehicle trade insurance issues.

Contact us today if you want to make sure you are making the most of your car insurance choices. We can help you to navigate this busy market place and ensure you are getting the best deals.

Financial Cover

Cars are not only worth a lot of money but they can be invaluable to your day-to-day life. With us, you will have financial cover if you are involved in an accident. This will help you to pay for any repairs that need to be carried out.

Car insurance can also provide you with a replacement vehicle whilst your car is off the road. This will mean you can carry on with your life as normal.

We can help you find the right level of cover for your circumstances. This can include key benefits such as replacement vehicles and breakdown recovery.

Legal Cover

When you are driving the car you have a legal responsibility for due care and attention. If an accident occurs and it was proved to be your responsibility there can be some very difficult legal repercussions to face.

We can help you find policies that will provide you with cover against legal costs. This can help you deal effectively with any litigation cases that occur as a result of driving on the roads.

The Company can offer you Peace of Mind

With the right trade car insurance in place, you can travel confidently on the road. You will not have to worry about what will happen if you have an accident. You can also be sure you have all the insurance you need to drive legally on the road.

Without the right trade car insurance, you could be left out-of-pocket after an accident. You could also be left without transport if your car is written off or off the road for repairs.

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Auto Insurance blog

Buying Car Insurance Online with Traders Insurance

So you need to get cheaper insurance but you’re not sure if you should go online or call up an agent. This is a predicament many people shopping for insurance find themselves in. Over the last 20 years or so, more and more people I’ve turned to the internet to compare auto insurance prices. This has led to insurance companies changing their business model from agent-based to directly selling policies to consumers online. The question is, are direct auto insurance policies actually cheaper than going through the traditional local agent or broker’s office?

Buying Car Insurance Online with Traders Insurance

The reality is, getting online quotes is often cheaper than calling up an agent or broker. This is true for a number of reasons. First of all, a direct insurance provider does not have to pay hefty commissions to agents or brokers. Secondly, selling car insurance online is cheaper than through large offices that require expensive staff, in addition to other costs. The combination of these factors is savings that are passed down to the consumer through cheaper car insurance rates. Many consumers can save $500 or more by buying a direct policy online. Traders keep their costs low so they can pass these savings right on down to the consumer.

This doesn’t mean that you should forgo calling up your local insurance agent. Since they will give you a free quote, there’s nothing to risk by checking rates with them. Sometimes, for the coverage and type of policy you need, a local agent will be very competitive and on occasion might have a lower price.

Benefits of Buying Car Insurance Online

The first benefit is the obvious one and that is savings. With the ability to compare dozens of companies in a matter of minutes, this gives the consumer the resources to compare which carrier has the lowest rates for the type of coverage they need. This allows many people the tools to save money just by shopping for the best deal. Many people feel more in control of the buying process by shopping online and not putting that task in the hands of an agent. Insurance brokers and agents are almost always paid by commission and often do not have an incentive to offer the cheapest rates.

The second benefit is convenience. With a direct online policy, you can manage your policy online from your smartphone or laptop. This means you can add drivers, print ID cards, or increase your insurance limits all online without ever having to deal with an agent. This convenience’s one of the many reasons why online car insurance has become so popular over the last several years. You can even file a claim, all online, and track it anytime. There’s just really no downside to getting insurance over the web.

The third reason why shopping online helps so many people is time. Who has for 5 hours to call up multiple agencies and brokers in the city they live to try and find the cheapest insurance rates? This could take all day after all. With one quote from Traders Auto, you can compare up to 10 quotes and get special deals that are reserved for online shoppers.

Contrast this to getting a quote from several brokers or agents. Each time you call an individual office you will need to fill out a new car insurance quote with all of your information. If you call 10 agents this entire process can take hours and you still might not know if you have the lowest quote for the coverage you need.

Also, many agents will call you repeatedly, trying to close the deal and get you to buy insurance from them. This can be overwhelming with calls every day for weeks on end. This is why many people like the autonomy and privacy of the internet. You can get quotes where there is no obligation to buy a policy and no pushy salespeople calling them.

Basic Information Ready to Get Quotes Online

Before you get a quote on the web, there are few things that you’re going to need. This includes:

  1.  Your driver’s license

  2.  The make and model of your vehicle including VIN (Vehicle Identification Number) number

  3.  The address where you reside

  4.  Your social security number

  5.  The type of coverage you need

Once you have these items in place, you should be able to get a quote online in about 5 minutes. If you don’t feel comfortable getting a quote with a direct provider online or have questions, you can call a Traders Insurance licensed representative toll-free during normal business hours. Get started now comparing online auto insurance quotes and see how easy it is to save hundreds. Start your free quote by entering your zip code and compare rates in under five minutes.

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Auto Insurance blog Insurance

Traders Insurance Kansas

Traders insurance Kansas will cover the owner of a business from losses. This includes damage to products, materials, and equipment due to an accident in Kansas. Also, this type of insurance coverage will work if your property was damaged by a tornado, storm, fire, robbery, and even vandalism. This insurance is very useful when you organize an exhibition or a trade show. It will also help you against financial losses if your client’s property got damaged in the course of an event.
Traders Insurance Kansas

There are different types of insurance. It’s ideal to select the one you need, that will cover you the best, so as to avoid any confusion when it comes to coverage. If you have any problem with making the best choice, you can contact a professional representative online or call toll free.

Getting the Best Deal on Your Traders Insurance Kansas

Motor trade, which is available at traders insurance, is the best coverage for individuals and companies who are directly involved in the auto industry. The type of coverage requires buying, selling, and repairing a wide range of vehicles. Therefore, if your business deals in vehicles, you will need to get covered with traders insurance Kansas for your best protection. This includes motor shop businesses, car salesmen, car dealers, and other auto-related companies that need quality coverage at great rates in Kansas. 

Finding a Balance between Coverage and Cost

It’s easy and straightforward to find an insurance firm that offers different types of auto trade insurance coverage. You have different choices and one of that also includes your current provider. Your current company may not offer the best coverage that will cover your needs. You can also search for a new provider that can offer the best deal online or by calling a live agent.

Best Deal On The Trader Coverage For Any Of These Reasons:

Reasonable Coverage: Accidents may occur in the line of business. It’s better when a knowledgeable businessman is ready for any unforeseen events through an auto trader insurance policy. Based on the terms of the agreement, the coverage may include the property that was damaged and third-party damages. Contact your provider to know other types of coverage that meet your needs.

Reasonable Premiums: Bear in mind that the premiums denote expenses that will affect your bottom line. If the premium is high, your income statement will show it, but you have greater protection. If the premiums are cheap, you may get little coverage and it could be a bad decision when an accident occurs in the future. 

You need to make sure your policy strikes a balance between a good cost and good coverage. If it’s too cheap, you may end up with minimum coverage whereas if it’s too expensive, you may be paying for nothing.

Search for the Best Deal Online with Traders Auto Insurance 

You can find a provider that has the right balance between coverage and cost in the insurance policy. This depends on persistence and patience in comparing different quotes. Comparing insurance quotes is essential for every individual and business who wants to get the best deal.

The internet is the best place to get different quotes. With the right keywords, a world of opportunities opens up for you. You can just fill out a simple form in about 5 minutes. Then, select an insurer that offers the best services and products, as well as the one with a good track record in the insurance industry. 

During your research, you will find different websites that offer free online quotes and you can compare the quotes before choosing your provider. The information on their websites must be clearly presented. All you need to do is compare deductibles, coverage, and premiums. If you don’t buy a policy, there is no obligation to buy. 

Your work is to evaluate the information and make the best choice. Remember, selecting one policy is an important step and it could end up in the right direction or in the wrong direction. Therefore, take your time and evaluate the information presented before buying a policy.

Why Do You Need Traders Insurance in Kansas?

Auto traders auto insurance it’s important for any business operating in the vehicle industry to have legal coverage. With the great deals which are now available, motor traders insurance is now realizing that they can bring a huge amount of reduction to their operating costs, just by securing cheaper coverage. 

However, you need to be mindful, because the cheapest auto insurance does not always mean the best coverage. As with anything in life, the most important thing is quality. Whether it’s a new television, a new car, or traders insurance, if it does not cover your needs, then it’s really not a good deal.   

Do you need insurance in Kansas? You are in the right place, with coverage in all 50 states. Traders car Insurance has many years of experience providing excellent coverage for personal and commercial automobile insurance. We help individuals and businesses get value for their hard-earned dollar. You can cover your automobile for less. Start your free quote now. 

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Auto Insurance blog

Low Cost Oklahoma City Car Insurance

Finding cheap Oklahoma city car insurance can seem like a daunting task. Oklahoma is ranked first in the nation for uninsured motorists. One in four motorists in Oklahoma are uninsured. Insurance companies have raised their rates as a result, meaning that Oklahoma city car insurance is 12.6 percent above the national average.

oklahoma city car insurance

The states low wages, which result in a lower median household income, explain why many drivers risk driving without insurance. The state is cracking down on uninsured motorists, making it more critical than ever to find cheap Oklahoma city car insurance.

Low Income Car Insurance

Unlike some other states, Oklahoma also does not offer assistance for low-income car insurance. There is no program to assist residents with finding and purchasing low-income car insurance, adding to the problem of uninsured motorists.

Traders Insurance OKC is working with drivers to find the best rates possible. Traders Insurance OKC is experienced with the state minimums required by Oklahoma and how to find the best rates for drivers.  It is always essential to shop around for insurance, but before you do, you need to understand what type of coverage you need.

Comprehensive Coverage

If you have a vehicle that is financed, your lender will require that you have comprehensive vehicle coverage. Comprehensive coverage takes care of damages done to your vehicle as well as any other vehicle or property you may damage in an accident where you are deemed at fault.

If you own your vehicle, and there is no loan against it, the state only mandates that you carry liability insurance. Liability insurance is cheaper because it only covers other vehicles and property damage in an accident where you are deemed at fault. OKC can help you determine whether you need full-coverage or liability insurance.

Deductible Amount

When comparing insurance prices, do not forget to account for what type of coverage is offered as well as the deductible amount. Using an online tool can quickly show you a comparison of rates.

Once you have received your online quotes, call the company, and speak to an agent about a quote. It is often possible for local insurance agents to be able to match or beat the prices of insurance found online.

Local Agent

In addition, you then have the advantage of a local agent to speak with if you have questions, need to change your coverage, or experience an accident. The company can explain what options you have in cheap Oklahoma city car insurance.

Knowing what factors influence the costs of insurance can help you better understand what rates to expect. Insurance carriers use several factors to determine their rates, but these are among the most important:

  • Whether you need liability or comprehensive insurance
  • Your age
  • Your driving record
  • Where you live—urban areas often have higher insurance rates than more rural areas.
  • Your credit score
  • What type of vehicle you drive and the overall value of the car. Sports cars cost more than SUV’s to insure. Older vehicles are less expensive than newer vehicles.

If you need low-income Oklahoma city car insurance, there are things you can do to increase your odds of finding affordable insurance:

  • Compare rates and be prepared to haggle. Ask what options you have for reducing the costs of your premium.
  • If you do not have a loan on your car, and your vehicle is worth less than $4,000, you might want to consider collision only insurance.
  • Decide what kind of deductible you could pay in the event of an accident. If you can afford a $1,000 or even $1,500 deductible, this can often reduce your premium significantly.
  • Ask what discounts are available. Discounts are based on things like bundling your car insurance with other coverage like home insurance. Students with good grades often qualify for a discount, as do drivers with a clean driving history. Talk to your agent to find out if you are eligible for any discounts.
  • You might need to consider only owning one car. If car insurance is a struggle, you may have to decide if your family could manage with one vehicle.
  • If you have a teen or young adult on your vehicle insurance, they will costs you a significant amount more to insure. Consider not insuring them to drive if they do not need to drive. Just remember, it is illegal for them to drive without insurance, and if they are involved in an accident, insurance will not pay anything. If you remove a teen or young adult of your insurance, that means they cannot be allowed to drive under any circumstances.

Monthly Installments

Insurance coverage can be paid in monthly installments, but this is one bill you cannot be late on. With most policies, there is no grace period. The day after your insurance goes unpaid, it is no longer in effect for coverage. There can be substantial penalties and fees associated with reinstating insurance. To avoid this happening, consider setting your Oklahoma city car insurance premiums up on an automatic draft.

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Auto Insurance blog

First Month Free Insurance – Negative Financial Situation

Do you want to insure your vehicle now, but your financial situation is terrible? Can’t you afford the insurance upfront deposit? It usually is around 20% of the total amount. Are your circumstances so difficult you cannot pay $100 or more for a down payment? Do you need a car to go to work every day, and you are not willing to bear the consequences of driving without insurance? So, you are involved in a dilemma without knowing how to solve it.

If your current situation is described above, you might still find a way out. Some companies provide first month free car insurance. This might be hard to believe, but it is true. They offer this type of discount to catch the interest of new clients. Insurers would extensively compensate that first month free of charges with the rest of the policy payments.

first month free car insurance

What Are the Advantages of No Down Payment Auto Insurance Policy?

Obviously, the main advantage of a zero-down policy is to obtain car insurance coverage without the need for paying in advance. This type of policy is useful for those who have temporary cash problems. That is, there might be drivers who need to get insurance right now and, for the moment, are short on cash. So, this kind of policy could be a solution for them. Their policy would completely cover them during the first month.

A clear example would be those who have recently acquired a new vehicle and spent a lot of money on the down payment, sales tax, and registration fees. Often, the remaining money is not enough to buy coverage. Therefore, a fist month free car insurance deal becomes an attractive solution. You could guarantee your policy and have your car properly covered, with only a one-month grace period to start paying your premiums. This way, you could be covered until your financial situation gets better the next month.

Nowadays, competition for new clients is tough, particularly online. Therefore, insurance providers are offering significant discounts to attract the attention of new consumers. Although average coverage prices have increased in recent years, due to these discount strategies, people who try to have the funds for insurance could find an affordable option.

Could You Save By Purchasing A Zero Down Insurance Policy?

Well, the answer could be yes, and could also be no. Confused? It depends on two things: the risk involved as a driver and the insurance company you select. For example, for some insurers, you could be such a good applicant that deserve to be offered a no down payment policy and also, with the cheaper premiums you have ever paid.

You could find providers for a whole month with no further charges. For instance, if you buy a policy for 12 months and cost $1100, the first 30 days could be free of charges, and then the next eleven months, you would pay $100 each month (totaling $1100). This offer couldn’t be a disadvantage for you.

Before purchasing this type of coverage, you must ensure that there are no hidden fees tied up to the policy that could unpleasantly surprise you in the future. So, you should shop around with direct insurers and study the different plans they offer. During your search, consider smaller providers that could provide you some of the best prices.

However, if you have a slightly spotted driving record, you could still be eligible for a 1st-month free car insurance policy. The disadvantage is that premiums could be a little more expensive than other policies with a down payment as a requirement. But if you are going through a cash squeeze, spending a bit more money on your policy could be a good option. In the end, you would get the whole first month of insurance free of charges.

You could get a 2% discount, or more, from most companies when you pay for the whole policy in advance. This way, you could save some money, but it is a valid option only for those who could afford it. Nevertheless, if you are in poor condition, financially speaking, it may be a wiser option to make your payments monthly. Therefore, you could save as much money as possible in your bank account.

First Two Months Free Car Insurance

There are a lot of customers looking online for the best auto insurance policy. Therefore, insurance providers should be extraordinary to attract consumer interest. They should offer considerable discounts to seduce new clients. A handful of insurance companies are now offering the first two months free.

It could be a huge motivation because you have been covered two whole months without paying a down payment. This option could be perfect for those who need car insurance immediately but don’t have the money to pay expensive installments in advance. This could be useful for drivers that are starting a new job and use their cars to earn money, such as an Uber driver.

Even if you have purchased a two-month free auto insurance policy, you must pay the full amount of your premium. The owed amount would be added to the monthly premiums that you would pay later. Typically, insurance companies offer this option to current clients who still have one year or more of continuous coverage but who need to renew their policy right away.

However, recently, some agencies have also offered these special plans to new clients. Therefore, insurance providers offer such agreements “in good faith”. This way, they could maintain quality clients by renewing their policies while obtaining other new clients that benefit from these deals.

How to Get First Month Free Auto Insurance?

Through the internet, most people could go online and find the exact policy (amount of coverage and rates) to meet their particular requirements. You should shop around before purchasing your insurance, especially if you are in a cash bind and need a no down payment policy. A lot of people get online quotes from companies such as Geico or Progressive, the top TV advertisers. However, these providers might not always offer the cheapest rates.

It Would Be Best If You Shopped Around for Better Rates

You should get a minimum of ten quotes to compare. You may think it could be a long procedure, but you would get results in less than 20 minutes. There are many websites whose purpose is to help you find the exact coverage and terms you desire. You could evaluate several quotes in 5 minutes or even less, and it’s totally free.

Online Rates vs. Brokers and Agents

Online rates could be cheaper than the ones you get through brokers and agents. Several consumers who have bought their car insurance online have reported savings of $500 or more.

Another advice is to get all possible discounts for which you are eligible. They could save you hundreds of dollars in premiums every year. Read below to know some of these discounts:

  • Good Driver
  • Senior Citizen
  • Garaged Vehicle
  • Teacher
  • Good Student
  • Active Military or Veteran
  • Almost anyone can qualify for a discount

Do you need First Month Free Car Insurance? You are now up to date with the particulars on getting this type of deals. So, you are prepared to go out there and buy the policy that fulfills all your needs. Traders Insurance could be your best option. Get a free quote now and save big!

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Auto Insurance blog

Motor Trade Insurance

Choosing the best auto insurance policy isn’t easy. In fact, it can be time-consuming and requires a lot of effort on your part. Thankfully, we completely understand and have found a way to make this lengthy process as fast and painless as possible. Our team of specialists, along with a straightforward quote system, will allow you to get the coverage you need fast.

Motor Trade Insurance

After lots of work, we’ve built a reputation for offering flexible terms, affordable prices, and accommodating even the strangest risks. Whether you run a well-established car dealership, run a mobile mechanic’s business or anything in between, we’ll find a policy that provides the coverage you need.

Before you get started filling out our quote form, here’s a quick overview of what motor trade insurance is, how it works, and who needs it.

What is Motor Trade Insurance?

A motor trade insurance policy is required for anyone who runs a business involving vehicles, as well as anyone who owns a business that provides vehicle-related services, such as a mechanic or car valet.

When you own a motor trade business that deals with other people’s vehicles, you are required to insure the vehicle(s) with a specialist insurance policy anytime the vehicle is under your ‘care, custody, and control. Care, custody, and control refer to any vehicle left in your business’s possession, which is no longer covered by the owner’s own vehicle insurance policy.

Motor trade insurance covers a wide array of service providers, including:
• Car sales dealerships
• Breakdown/towing services
• Vehicle servicing
• Full and part-time car/motor traders
• Car valet services
• Motor mechanics
• Salvage, scrap, and vehicle dismantlers

It’s important that you tailor your motor trade insurance to your specific field. This is because motor trade insurance does offer coverage for such a wide variety of businesses.

A Few of Our Top Policies Include:

o Minder Policy for anyone dealing with a customer’s vehicle
This includes insurance policies for the following:
o Mechanical repairer
o Valeting
o Accessory/ fitter
o Crash and body repairer
o Tire fitter and exhaust
o Vehicle assessor
o Window screen fitter
o Breakers yard
o Car jockey
o Long stay parker
o Vehicle delivery
o Trade plate
o Van traders
o Repossession agent
o Young driver’s insurance for individuals under the age of 25

Trader Policy For Your Own Vehicles

This includes insurance policies for the following:
o Commercial Vehicle Importer
o Commercial Vehicle Exporter
o Car Dealer at the Premises
o Enthusiast Policy for anyone who deals in trading on a part-time basis

This Includes Insurance Policies For the Following:

o Part-Time motor trader
o Restorer and Collector
o Car dealer at Home

Who Needs Motor Trade Insurance?

Anyone who acts as a motor trader, whether it’s all the time or on a part-time basis, is required to have motor trade insurance. This applies to limited companies, as well as self-owned businesses that take responsibility for other owner’s vehicles.

The type of motor trade insurance you must have is determined by what part of the motor trade industry you work in. Here’s an example. If you are a mechanical repairer, there will be times when you have other owner’s vehicles under your ‘care, custody, and control.’ This means you will need a policy that covers the other owner’s vehicle. However, if you operate in sales and often demonstrate vehicles, you will need a different type of policy.

If you operate in multiple areas, you will need a policy that includes all of your motor trade activities.

How Do I Get Covered?

To meet the criteria for a motor trade policy, you must show that you own a genuine business that is income-generating. This is done to prevent owners of more than one vehicle from getting motor trade insurance.

What Coverage is Provided by Motor Trade Insurance?

The coverage you receive with a motor trade insurance policy depends on several factors, just like it does with other types of insurance. Remember, there is a huge array of motor trade businesses, so the coverage you get can vary greatly. In most cases, your coverage will include:
• Road risks: This policy covers your vehicles and any other vehicles that are not owned by you but are being used by you to conduct your motor trade activity.

• Parts only cover: The third party is usually the simplest coverage available. However, “parts only coverage” may be an option, depending on the type of motor trade business you own. Be aware that ‘parts only cover’ does not provide the legal protection needed to take the vehicle on the road.

• Combined motor trade insurance: This policy includes coverage for road risks, equipment, and your premises. If you require multiple policies, a combined motor trade insurance policy may be a better option.

• Public liability: This protects you, as well as your employees, from any claims made by the public. This can be included in your single motor trade insurance policy.

• Employer’s liability: If your business has one or more employees, the employer’s liability is required. This applies even if they will not be driving vehicles. It can be included as part of your standard motor trade insurance policy.

• Material damage: This coverage applies to any damage to stock vehicles or equipment that you own. For example, if you’re a salesman, it applies to unsold vehicles.

• Product liability: This coverage protects you against any claims if you fit a part to a vehicle that ends up being defective.

• Vehicle types: Be certain that your insurance covers any vehicle type, including cars, HGVs, and vans, that you or your staff may drive.

• Extra drivers: If your business requires that employees drive customers’ cars, you will need to choose between a policy for ‘any driver’ or naming specific employees as extra drivers, which tends to be the more affordable option.

Is Motor Trade Insurance Mandatory?

Anyone who does business in the motor trade industry is required, by law, to have a minimum level of motor trade insurance. This includes car dealers, valets, and mechanics, both full-time and part-time. If you do not, you are breaking the law.

Third-party is the minimum level of cover you must carry, though the additional cover is recommended. In addition to making sure you have the required insurance, you are also required to provide information to the Motor Insurance Database (MID).

What Level of Cover Do I Need?

There are three levels of cover to select from, including:
• Third-party: This is the absolute minimum cover you can have for vehicles operated on public roads. It is also the least expensive. Third-party covers you while driving, whether it’s your vehicle or a customer. It includes any damage you may do to a third party.
• Third-party fire and theft: This cover includes everything in third-party, as well as protection against damage to vehicles that are caused by theft or fire.
• Comprehensive: In addition to everything listed above, a comprehensive policy includes any accidental damage to your vehicle or a customer’s vehicle that is under your ‘care, custody, or control. If you were to have an accident while operating a customer’s vehicle for your business, the insurer would be responsible for the repair costs (minus the excess). Put together a large collection of motor trade clients.