It is essential to have a good Business Insurance if you earn a living buying, selling, fixing or generally working with cars, even if its part- time.  Specifically, a Motor trade policy is especially designed for large and small motor traders.  Motor traders will discover that each policy is different; there is a variety of coverage, premiums and features.   Therefore, it is vital that the motor trader chooses the policy that best meets their needs and budget.

A Motor trade insurance sales team will provide you with all your Motor trade policy options.  There are generally five types of policies that you may opt from.  They are the Third Party Only or Third Part, Fire and Theft policy.  Motor Traders can opt to purchase the Comprehensive or Liability policies.  Lastly, the Combined Policy is also an option.  Again, it is very important to choose the policy that is right for your particular type of motor trade.  Some interesting features may include administrative, social, domestic and pleasure use of any vehicles for all named drivers. Secondly, you may receive a free second occupation ‘class one coverage’ for you and your partner or up to fifty percent no claims bonus awarded after five years.  Additionally, the motor trader may be offered the option to either use a private or commercial bonus from previous insurers.

The Third Party Only Motor trade policy (also referred to as Third Party Road Risks Policy) is required by law if such services are practiced.  If you buy and sell cars or operate as a mobile tuner, repairer, Valier or fitter, then you must operate under this particular policy.  If you own a garage of MOT station and repair or restore classic and cherished cars, you are also classified as a Third Party Only policy candidate.  Finally, motor traders need to consider purchasing the Third Party Only Motor trade policy if you provide any general vehicle repairs or need t drive any vehicle on the public road, (yours or your customers). The Third Party, Fire and Theft Policy honor the same criteria as it also protects vehicles in the event of fire or theft.  The Comprehensive Policy is designed for the motor traders that receive all of the above as well as comprehensive coverage.  This would include accidental damage to cover vehicles in the event of fire or theft.  Motor traders could opt to protect their business by purchasing the Liability Policy.  This Motor trade policy is especially designed for motor traders who employ someone and service, repair, or restore cars.  This business will also buy, supply and fit parts.  The Liability Policy covers the business that invites the public onto their premises while also providing service for them.  There are three types of Liability Insurance; Public, Employers and Product, Sales and Service Indemnity (including Defective Workmanship).  Of course, the Combined Policy provides coverage for premises, contents, tools, liability, vehicles and money.  In essence, whatever Motor trade policy that you choose to protect your Motor Trade business, be sure that it is convenient and effective at the best price.