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.