Tips on What Your Motor Trade Insurance Should Cover |

Anyone who is opening a business in the motor industry whether on a full or part time basis should have adequate motor trade insurance cover. The motor industry is a risky business which requires you driving customer vehicles, keeping vehicles on your premises overnight and working with specialised equipment on a daily basis.All policies should cover the building that you work from, this includes fire, theft and storm damage. The premises where you keep your workshop or car dealership whether it’s a city building, set on the outskirts of town or your home garage, should be covered in the event of damage.Without your premises you are unable to run your daily operations, so it’s essential that building cover is automatically included in the motor trade insurance cover.In the event you are looking at opening a mechanical workshop, or you already have an operational workshop, then you and your staff will be working with a range of tools and specialised equipment every day. Your tools are your livelihood, which is why these along with any expensive diagnostic equipment should be covered against damage or theft.Again, without your tools you are unable to carry out the jobs and your business will lose money.There isn’t a single business within the UK that can operate without adequate liability insurance. Public liability cover is one of the most important covers you will want to include in your motor trade insurance cover. Public liability protects you every time a person’s comes to your property.With the motor industry being a dangerous place, all it takes is some oil left on the floor for a customer to slip and fall, injuring themselves. This can result in a claim against you which can amount to thousands. It’s very difficult to put an exact price to a public liability claim as it can include loss of income, medical expenses and even mental distress caused by the accident.What many traders don’t realise is that they are legally responsible for the claim. Without adequate public liability cover, assets can be seized to offset the balance.With your building, tools and visitors covered under your motor trade insurance cover, you will now need to pay attention to your staff members. Employer’s liability cover is a legal requirement in the UK the minute you hire one or more staff members.Employer’s liability cover protects you in the event one of your staff members injure themselves while at work. Working with machinery and tools on a daily basis can lead to accidents, so it’s essential this cover is in place. There is only one exception to this cover and that is if you are a part time trader and a family members helps you out from time to time, otherwise you must have this cover in place at all times.For anyone who runs a car dealership, in order to finalise a sale, you’ll find your customers will want to try the vehicle before making a decision. Being unable to offer this service can result in you losing the sale.
Demonstration cover enables customers to drive the vehicles you have on your shop floor in order to make a decision on whether the vehicle is the right choice for them.Road risks on the other hand, is a must for any motor trader and must be included in your motor trade insurance cover. Road risks gives you the ability to drive customer vehicles in order to test drive them, whether you’re checking to ensure work has been carried out correctly or you want to test the vehicle before buying it and adding it to your shop floor for sale to the public.Motor trade insurance cover is designed to protect every aspect of the business and with a host of additional covers to include, you can enjoy peace of mind that your company is protected every time you open the doors.