Traders Commercial Auto Insurance

Road risk

Road risk refers to coverage for driving a car on a public road or highway. This is needed for a number of reasons. Perhaps your staff delivers cars or test drives them as part of vehicle maintenance. If your business’s staff doesn’t need to drive the car in public, road risk coverage may not be necessary. Instead, you might want parts-only coverage. If you do need road risk coverage, you can opt for comprehensive coverage, third-party coverage, or third-party plus fire and theft coverage. These options can be weighed when you get a traders car insurance quote online.

Liability Insurance

If you are an employer, you want employers liability insurance. This coverage is important if you have employees, even if they don’t drive your vehicles. Employers’ liability insurance will protect your business from claims submitted by your staff.

Public liability insurance is similar, but covers claims made by the public rather than your staff. With this sort of liability insurance, you and your staff are covered against claims submitted by customers or the general public.

Product liability insurance is important if your business includes adding or changing the parts to a customers car. If you or your staff fit a new part that turns out to be defective, you will be covered.

Material damage

This coverage applies to vehicles or automotive equipment owned by your business. For example, if your business is a motor dealership your unsold cars will be insured. Material damage coverage may automatically include increased value based on buying patterns. Most new registrations occur in March and September.

Motor and trade insurance

Combining motor and trade insurance gives your business coverage against road risk, your equipment, and your premises. Going with combined coverage is often cheaper and easier than getting multiple separate policies. Still, you want to make sure that your business is fully covered. This can be part of the research you do when looking into a traders insurance policy.

Extra drivers

Ideally, your business will have coverage for all staff. Unfortunately, “any driver” coverage is often the most expensive. If cost is an obstacle you encounter while getting your business going, you have the option of naming specific insured drivers. You could also opt to limit coverage to a smaller group of employees.

Vehicle types

It’s important to keep in mind the types of vehicles you or your staff will drive. Coverage for all types (cars, vans, etc.) will be very costly, just like coverage for “any driver”. Just as you might limit coverage to a few employees, you can limit coverage to specific vehicle types only. This should be customized to your business’ needs and budget.

Now that you’ve learned more about traders’ car insurance, it’s time to get a free online quote. You value your business and there’s no time like the present to start protecting it with a good insurance policy.