As a motor trader, it’s important to protect yourself and your business with road risk motor trade insurance. This type of insurance covers you for any damage or injury caused while driving customers’ vehicles or vehicles that are part of your business. Without it, you could face costly legal fees and loss of income. So, make sure to have the proper coverage in place to keep your business running smoothly.
What is road risk insurance?
It covers you for any damage or injury caused while driving customers’ vehicles or vehicles that are part of your business. This includes vehicles being test driven, delivered to customers, or used for business purposes.
It’s important to note that road risk motor trade insurance is separate from a standard car insurance policy. While a regular car insurance policy only covers the vehicle itself, road risk insurance also covers any liability for injury or damage caused by the insured individual while driving.
So why do motor traders need this type of insurance? Not only does it protect your business financially in the event of an accident, but it can also give peace of mind to your customers knowing that their vehicle is in safe hands.
Without road risk insurance, you could face costly legal fees and loss of income. It’s crucial to have the proper coverage in place to keep your business running smoothly.
What does road risk insurance cover?
In addition to damage and injury caused while driving, road risk insurance can also cover additional expenses such as hire car costs and legal fees. It’s important to carefully review your policy to make sure you have the coverage you need for your specific business operations.
There are 3 levels of cover for motor traders:
- Third party only: covers damage or injury to others, but not to you or your vehicle
- Third party, fire, and theft: covers the above, plus damage or theft to your own vehicle
- Comprehensive: the highest level of coverage, including damage to your own vehicle and any additional expenses.
What level of cover do I need?
When considering your coverage needs, it’s important to think about the types of vehicles you handle and the nature of your business operations. If you frequently test drive or deliver vehicles, a comprehensive policy may be worth the added cost for added peace of mind.
What features are included in a road risk insurance policy?
This can vary by insurer, but some common features include public liability coverage, personal accident coverage, and cover for damage to tools and equipment.
Be sure to shop around and compare policies to find the best fit for your motor trade business. Protect yourself and your business with road risk motor trade insurance.
What kind of motor trade businesses need road risk cover?
Any business that involves driving customers’ vehicles or using vehicles for business purposes, such as:
- Car dealerships
- Auto repair shops
- Vehicle delivery and transportation services
- Car rental companies
- Car valeting services
It’s important to note that road risk insurance is separate from a standard car insurance policy and it’s crucial to have the proper coverage in place for your specific business needs. So make sure to protect yourself and your business with road risk motor trade insurance. Don’t risk it – make sure you have the proper insurance coverage in place.
How can I keep my insurance costs low?
Some ways to keep your insurance costs low include:
- Having a secure premises for storing vehicles
- Keeping a clean driving record
- Only insuring the vehicles that you need for your business operations
Remember, in the event of an accident or injury, the cost of not having proper insurance coverage can be much higher than the cost of the insurance itself. Protect yourself and your business with road risk motor trade insurance.
Don’t wait, find a competitive quote for your road risk motor trade insurance today. We’ll put you in touch with a panel of brokers who specialise in this type cover. One form gets you started!