Motor trade insurance, what is it and why do you need it?

Motor trade insurance is a specialist insurance policy, that will give you the ability to drive all of your own cars & vans as well as your customer vehicles (this is called a road risk policy). Additional covers such as public liability, internal risks (covers vehicles parked in a compound) and carriers liability (covers a recovery agent from loss of a clients vehicle) can be included as needed. So who needs motor trade insurance and how do you get the best cover?

1. Selling vehicles part time or full time:If you are buying or selling vehicles part time or full time, you need a motor trade policy. Some buyers will try and use their private car or van policy to cover them to pick up a car they are buying. Using the DOC extension of your private or CV policy to cover you is fraught with danger. The cover is basic (third party) and many insurers will exclude use with the motor trade.
2. Repairing, servicing or cleaning vehicles. Repairing or servicing a vehicle without the proper motor trade policy is exposing you to a major financial loss. Moving a vehicle without insurance or repairing a vehicle that subsequently is involved in an accident because of your repair can have catastrophic consequences.
3. Recovery vehicles We are often shocked at the amount of recovery agents (those that pick up vehicles after a breakdown for example) that have basic commercial vehicle cover. Recovery vehicles need motor trade insurance and often require additional cover for the vehicles that are towed (which we can provide).
4. Talk to motor trade insurance professionals. Motor trade insurance is a complicated area. There are a number of providers on the market, all offering different type of cover and all have different policy wordings. We at Non standard and Power Insurances are specialists in this area and have been for over 25 years. We will go through your details and find the correct solution for you from all of the available providers. We will explain the cover involve and review it as your business grows.

So log on to our Motor trade department page today or call us on 0818 919699 and we will do all we can to help.