If an individual or business deals with multiple vehicles, such as an independent car showroom, then certain insurance companies cater for these needs. ‘Traders car insurance’ policies are tailor made for the motor trade sector, which means that the policy is designed for the needs of those that require cover for any number of vehicles. Another example of who this may be suited to is a repair workshop or mechanic.
Trader car insurance, or motor trade insurance as it is otherwise known not only cover the vehicle and personal liabilities, but they also extent to covering business assets and legal cover. In addition cover is often made available for material damage, road, public and product liability. This type of cover is designed to cover the client, their business, the businesses staff as well as customers and the public.
Of course each business looking for traders car insurance will have varying requirements that they expect from their cover. Each policy can be tailor made further and insurance add-ons are often offered. These can range from loss of license and business interruption.
Some, but not all, insurers that offer this type of cover may require the clients business to have been operating for a minimum term, for example two years. Others may require this and/or no claims have been made on a recent policy or if there was a claim made that it was for a minimum amount. These points need to be clarified with your insurer should you be in the market for traders car insurance. As each insurers underwriting terms and conditions vary further queries need to be made as to whether certain types of business qualify for this insurance. Usually most contractors and commercial vehicles are excluded from traders car insurance, however trades that usually qualify for traders insurance are:
This list is not exhaustive and other trades may qualify for traders car insurance which is dependant on different insurers.
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