Even If The Vehicle Is Stationary On A Forecourt You Still Need Motor Trade Insurance

Insurance for motor trade is usually taken to cover a small or big business that involves in all parts of selling vehicles. It can be in the form of car sales, mechanic or garage insurance. By getting insured on this type of policy, you're more likely to make better savings as it will be cheaper than having insurance for each and everything.

Why do I need motor trade insurance?

If you have to drive or move a car, you will need insurance to cover yourself and any other staff who are likely to drive the vehicle. This can even be for just moving cars off or onto the forecourt of a showroom. Depending on the insurer, drivers will need to be a minimum age of 25 with a licence held for two years but in some cases drivers need to be over 30 and less than 65.

Motor trade companies regardless of size usually need a tailor made quote to ensure that the level of cover meets their requirements. Optional extras can be added on such as insuring personal vehicles that are on site as well as breakdown and delivery lorries. Not all vehicles are covered as standard by motor trade insurance. Luxury cars like sports cars, classic cars and high performance cars usually require additional cover as they are at higher risk of theft and damage.

If you are starting up or already own an established motor trade company, you may also offer potential buyers the chance for a test drive before purchasing the vehicle. You will need to make sure that insurance to cover any accidents and damages during the test drive are also included in your insurance policy.

Due to high costs of motor trade insurance, many people miss out on this potentially profitable business. If you are starting up there are still ways to get cheaper premiums for your company and here are a few examples:

Experience in the motor trade sector - as you know all staff who are allowed to drive a car as part of their job will be named on the motor trade insurance policy, so if you were in a motor trade job prior to starting your own, you could still get a discount. As long as your previous employer agrees to give you a copy of the policy as proof and it was held for 5 years or more, you can get an introductory discount.

Mirror no claims discount - if you have another vehicle that you own and have proof of insurance, you can usually get 'mirrored' no claims discount through the use of another vehicle. It doesn't have to be for personal use and it can be from a job driving commercially or HGV driving.

Other optional extras associated with motor trade insurance includes legal fees, computer insurance and personal accident and injury cover for all employees.