Details of Motor Trader Insurance Explained

Motor Trader Insurance is an insurance policy that protects anyone operating a motor business on a full- time or part- time basis.  The insurance provides protection for businesses in the United Kingdom such as car dealerships, motor traders, van drivers, and commercial vehicles.  Motor Trader Insurance is unique in that they are conveniently tailored to the policy holder’s specific business needs.  The insurance packages allow you to select the ideal coverage through expert support, resources, products and risk management guidelines.

Many of the motor trader insurance policies are packaged with significant features and optional extras to protect your business.  Generally, cars that are classified as High Performance or High Group cars result in premium loading.  Classic, collective or vintage vehicle specialists are not subject to premium loading.  Motor traders who specialize in Motorcycles do not qualify for coverage.  However, motorcycle owners may receive coverage if needed and coverage can be rendered to those that trade motorcycles from time to time.  The classified features include Road Risks, Material Damage and Public Liability Servicing and Sales of Goods.  Under the Road Traffic Acts, the Road Risks feature is a legal requirement.  This part of the policy covers the motor vehicles as they are traveling on public roads.  Material Damage also referred to as “All Risks” is the feature that protects your buildings, contents thereof, stocks and vehicles.  The Public Liability Servicing and Sales of Goods is the feature of the Motor Trader Insurance that covers liabilities of a third party.  Meaning, it is a legal protection for injury or property damage of a third party.

The motor trader insurance policies also offer what is called Optional Extras.  Generally, these extra features are not legally binding with the policy, yet they are features that the buyer may choose to obtain for extra protection.  A Business Interruption covers the loss of profits due to an unfortunate, yet insured incident such as a fire.  Another extra is the Employers Liability.  This optional feature protects the policy holder from legal liability associated with damage occurring from injury or illness to employees during the time that they are employed by the employer.  Engineering Inspection coverage identifies the inspection of the plant where required by law.  The feature that protects the owner against loss or damage of property during transport is called Goods in Transit- Own Goods.  Other Optional Extras include Commercial Legal Expenses which covers solicitor’s fees and expenses as well as barristers, witness and court costs.  The Computer Insurance covers for loss or damage to computer equipment.  Lastly, the Group Personal Accident and Sickness covers for you and your employees for bodily injury or the inability to carry out working activities.   

There are many independent companies that are registered to sell and specialize in motor trader insurance.  Although each of them distributes their own variations of the policy, the results are the same.  And, most companies offer introductory discounts.  Every policy holder is to obtain quotes with competitive rates combined with professionally tailored coverage which places each business in grand standings legally.  Motor Trade businesses in the United Kingdom, whether full- time or part- time will receive the best coverage to suit its budget and needs.  Thus Motor Trader Insurance grants the buyer the best protection for its price.