Home - Car Trade Insurance
If you are a proud owner of a business dealing with vehicles then car trade insurance is something that you must be familiar with. This insurance policy is availed of by someone who is running a business dealing with motorbikes, cars or vans. The scope of the business can range from selling and buying the cars, garage running, valeting or MOT centre. A part time or full time insurance cover can be arranged depending on the size of your business. A detailed explanation of the types of car insurance covers has been explained in detail to get a better idea of what it is all about, the types and the benefits of this cover.
Liability Insurance Cover
This sort of insurance cover includes employers and public liability, service and sales indemnity. In case any employer sustains an injury, then the motor trader is indemnified whereas in case of public liability, the trader is covered for a damage caused to property or life. When it comes to sales and service indemnity, there are three conditions where the trader is indemnified -- supply or sale of products associated with motor trade, damage caused on account of selling or buying of used or new vehicles and lastly on account of inspection, alteration, testing, repair, cleaning or servicing of vehicles.
Insurance - Road Risk
This insurance cover provides you cover in case the vehicles that you own as well as those belonging to your customers. There are three levels of this sort of insurance in this stage. The minimum level of insurance cover that will be provided is provided through third party while as there is an inclusion of insurance on account of damage or loss caused by fire or theft. Comprehensive risk insurance is the most expensive form of cover that includes the costs incurred on account of damage not only to your vehicle but also the one that is owned by the customer.
Combined Insurance Cover
This form of insurance not only includes the conditions as stipulated in the above two covers but also covers damage incurred on account of damages to premises, plant, tools, machinery, vehicles kept at the premises, personal possession of customers and employees, fittings and fixtures, business interruption and money theft.
What are the Positives of Car Trade Insurance?
Having a good policy ensures that the vehicles that you own for selling purposes are guarded through insurance if the vehicle gets damaged. For instance, if all the vehicles that you own are loss on account of some fire or damage caused to your showroom, then a car insurance comes to your rescue at this point of time so that you don't have to close down the business. Moreover you are saved from the risk of accidents when you are driving the vehicles of customers. This gives you the freedom of developing a good customer relationship so that you or your select members can easily drive the vehicles. If you need a repair, accident or a replacement, then the same can be carried out quickly so that your customers are always happy and satisfied with the services that you offer.