Anybody working in the any aspect of the motor trade, needs to have adequate insurance in order to protect themselves and their business. The types of insurance that have been properly customized for those in the motor trade business are called motor trade insurance and they are specifically designed for different aspects of the motor trade. Obviously a show room dealer will have to have comprehensive insurance for all the vehicles in their showroom as they will have to be available for test drives. A mechanic may have to take a customer’s car on a test drive and so will require to be covered by their own insurance, not their customer’s. Even a valet parker may have a slight accident in the sometimes over crowded parking facilities and so they too need to be covered by an appropriate insurance policy. So, as you can see, all professionals in the motor trade need trading insurance. This even applies to valeters who may cause damage to a car they are cleaning. As a professional valeter, it is very unlikely that any damage would be caused through their own actions but, some of the cleaning compounds they use could cause some damages and so it is always best to be prepared.
Although there may be plenty of insurance companies that offer motor trade insurance policies, it is probably best if you find a company that specializes in them. The correct policy for you should be one that truly reflects your needs and only your needs.
There is no good ‘one fits all’ trade insurance, so you will want one that is tailored to your needs, specifically giving cover for what you actually do and no more. No one likes to pay insurance but unfortunately it is necessary to have at least minimal insurance in many areas. The problem usually is though that insurance companies often offer you and entice you to take out more coverage than you actually need, and that equally applies to motor insurance as it does to any other type of insurance. If you own a garage, you will therefore want an insurance policy that has been tailor made to give you adequate cover, at a reasonable price. The same applies to a valet or even a tire change shop.
When you are in the motor trade business, it is unfair to expect a customer’s insurance to cover damages caused by you or your staff and in many instances, a customer may ask I you have adequate insurance coverage. If you don’t, you may find that that customer, takes his business elsewhere. This means that for someone in the motor trade, the cost of an appropriate insurance, can be money well spent and may even pay for itself through an increase in customers.
Many of the motor trade insurance specialists, will also cater to the needs of HGV owners or drivers, as those types of insurance can also be somewhat specialized. The right insurance for you is out there somewhere, you just have to look.