Motor trade insurance should be purchased for anyone who plans to open a motor business, whether it is part-time or full-time. Motor industry is risky because you will be driving customer vehicles, keeping them on your premises overnight, and using specialized equipment every day.
All policies must cover the building you work in, including fire, theft, and storm damage. In the event of any damage, you should cover the premises where your workshop or dealership is located, whether it’s in a city or at your home.
You cannot run your day without your premises. Therefore, it is essential that your motor trade insurance policy includes building coverage.
If you’re looking to open a workshop for mechanical work, or if you have one, you and your employees will need to use a variety of tools and specialized equipment each day. You depend on your tools for your livelihood. Therefore, you should ensure that they are protected against theft and damage.
You can’t do the job without your tools and your business will be in trouble.
A business can’t operate in the UK without proper liability insurance. Your motor trade insurance policy should include public liability coverage. Public liability protects your property from any damage done by another person.
The motor industry is a dangerous business. All it takes to make a customer fall and injure themselves is some oil on the floor. You could be sued for thousands of dollars. Public liability claims are difficult to price because they can include lost income, medical expenses, and mental distress.
Many traders do not realize that they are legally responsible. Assets can be taken to compensate the balance if there is not enough public liability coverage.
Your building, visitors, and tools are covered by your motor trade insurance. Now you need to be attentive to your employees. The UK’s employer’s liability coverage is mandatory once you have hired one or more employees.
Employer’s Liability Cover protects you in case one of your employees is injured while on the job. It is important to have this coverage in place if you work with machinery or tools every day. This cover is not available if you’re a part-time trader or a family member helps you out occasionally. Otherwise, you should have it in place all the time.
If you are a dealer of cars, customers will be eager to test the vehicle before they make a purchase. You could lose the sale if you are unable to provide this service.
Demonstration covers allow customers to test drive the vehicles in your shop to decide if they are the right vehicle for them.
Motor trade insurance must cover road risks. Road risks allows you to test drive customer vehicles, either to verify that work was done correctly or to make sure it is ready for you to sell it.
Motor trade insurance is designed to cover every aspect of your business. With a variety of extra covers, you can have peace of mind knowing that your company is covered every time you open the door.
Evans and Lewis is an insurance company that specializes in the motor industry. The directors combined with their twenty-four years of industry experience, saw the need for motor trade insurance that was affordable in the UK. Evans and Lewis offer straightforward insurance policies that cover everything, from road risks to track vans and fleet coverage to under 25 coverage. No matter if the business is full-time or part-time, there are policies that will protect it. All motor trade businesses, from shops to dealers to restoration companies to tyre firms, are covered.
