Tailored policies for vehicle businesses, covering buying, selling, repairing, or modifying vehicles.
Comprehensive Motor Trade Insurance in the UK
At Crossroads Insurance Services, we offer specialist Motor Trade Insurance designed to protect businesses that buy, sell, service, or repair vehicles. Our policies are tailored to suit your specific needs, whether you run a large dealership or a small repair shop.
Why Do You Need Motor Trade Insurance?
Running a motor trade business involves significant risks, from handling customers’ vehicles to driving uninsured cars. Motor Trade Insurance covers your business against these risks, ensuring you are legally compliant and financially protected.
Types of Businesses That Require Motor Trade Insurance
Motor Trade Insurance is essential for a variety of businesses in the automotive sector, including but not limited to:
- Car Dealerships
- Vehicle Repair Shops
- Car Wash and Valeting Services
- Vehicle Recovery Services
- Automotive Parts Retailers
- Mobile Mechanics
What Does Our Motor Trade Insurance Cover?
A standard Motor Trade Insurance policy typically provides the following coverage:
- Road Risk Insurance: Covers your vehicles and customer vehicles while on the road, including during test drives and deliveries.
- Liability Insurance: Protects against claims made by customers or third parties for injuries or damage caused by your business operations. This is essential for safeguarding your business from potential legal disputes.
- Tools & Equipment Cover: Protects your essential tools and equipment from theft or damage, ensuring that your operations can continue without interruption.
Coverage Differences
Here’s how the coverage options differ:
- Third Party Only: The minimum legal requirement in the UK, covering damages to other vehicles and third-party injuries. Your own vehicle is not covered in case of an accident.
- Third Party, Fire & Theft: Includes third-party coverage plus protection against fire damage and theft of your vehicle. However, your own vehicle is still not covered for damages incurred in an accident.
- Comprehensive Insurance: Offers the most extensive coverage, including third- party damages, fire, theft, and any damages to your own vehicle resulting from an accident. This policy provides peace of mind for motor traders.
Additional Coverage Options
In addition to our standard coverage, you can enhance your Motor Trade Insurance with the following options, which may incur an additional premium:
- Motor Legal Expenses: Covers legal costs up to £100,000 following a non-fault accident. This ensures you have financial support for legal matters that may arise in the course of your operations.
- Bonus Protection: This add-on allows you to protect your no-claims bonus, ensuring that your discount remains intact even if you need to make a claim. This feature is particularly beneficial for motor traders who may occasionally require coverage for accidents or incidents.
Why Choose Crossroads Insurance Services?
- Customised Policies: Tailored insurance solutions for motor traders, whether you’re a sole trader or run a larger business.
- Competitive Rates: Affordable premiums designed to suit your business needs.
- Expert Claims Assistance: Support when you need it most to handle claims quickly and efficiently.
Frequently Asked Questions About Motor Trade Insurance
- What is road risk insurance for motor traders?
Road risk insurance covers vehicles you or your employees drive in connection with your motor trade business, such as test drives or vehicle deliveries. - Do I need liability insurance for my motor trade business?
Yes, liability insurance is essential to protect your business from claims made by customers or third parties who may be injured or suffer property damage due to your business activities. - Is motor trade insurance legally required in the UK?
If you operate a business that involves driving vehicles that don’t belong to you, you’re legally required to have motor trade insurance to cover those vehicles. - How do I get a motor trade insurance quote?
Call Crossroads Insurance Services at 0208 374 9331 to discuss your motor trade business and get a tailored quote.