When you're working with vehicles, it's important that you have insurance to protect yourself, your property, and the property and well-being of your customers. There are a huge number of things that could potentially go wrong in a motor trade, and it's important that you are prepared for what might happen in the future.
The absolute minimum that is required by law when you're driving vehicles on the public roads is Third Party Only Insurance. However, this will only cover you for the losses and damages suffered by the third party, and will not protect you or your business. Therefore, it is in your best interest to have insurance above what is required. Third Party Fire and Theft will give you the same cover, plus the added protection against losses suffered in the event of theft or a fire. Comprehensive Insurance provides all this, as well as cover for any accidental damage caused to a customer's vehicle or property, or any vehicles the motor trade is responsible for.
In addition to this, Public Liability Insurance will protect you in the event of any injury or health problems suffered by a customer, Employer's Liability Insurance will protect you if an employee is injured whilst at work (and is a legal requirement), and Product Liability Insurance will protect you if a customer is injured due to a faulty part or product.
Combined Insurance will give you the most protection, and is an important thing to think about if you have invested a lot of money in your business and property. It will cover any damage caused to property of the business and the customers, including the business premises, as well as theft of money, liability and any interruptions to the business.
Having a motor trade insurance policy is different to having a personal motor insurance policy. Whilst regular vehicle insurance services will insure you when driving a single, specified vehicle, motor trade insurance allows you to drive any vehicle as long as it relates to the business. This means you can drive customers' cars as well as your own, and fill in for absent drivers.
Finding a low cost motor trade insurance policy is not hard if you shop around. However, it is important to make sure you know exactly what each provider is actually offering so that you have the cover you need. Using a price comparison website is a good idea, because it will help you to see which companies are offering the cheapest vehicle insurance services and allow you to find yourself the best deal and avoid spending more money than you need to.
The absolute minimum that is required by law when you're driving vehicles on the public roads is Third Party Only Insurance. However, this will only cover you for the losses and damages suffered by the third party, and will not protect you or your business. Therefore, it is in your best interest to have insurance above what is required. Third Party Fire and Theft will give you the same cover, plus the added protection against losses suffered in the event of theft or a fire. Comprehensive Insurance provides all this, as well as cover for any accidental damage caused to a customer's vehicle or property, or any vehicles the motor trade is responsible for.
In addition to this, Public Liability Insurance will protect you in the event of any injury or health problems suffered by a customer, Employer's Liability Insurance will protect you if an employee is injured whilst at work (and is a legal requirement), and Product Liability Insurance will protect you if a customer is injured due to a faulty part or product.
Combined Insurance will give you the most protection, and is an important thing to think about if you have invested a lot of money in your business and property. It will cover any damage caused to property of the business and the customers, including the business premises, as well as theft of money, liability and any interruptions to the business.
Having a motor trade insurance policy is different to having a personal motor insurance policy. Whilst regular vehicle insurance services will insure you when driving a single, specified vehicle, motor trade insurance allows you to drive any vehicle as long as it relates to the business. This means you can drive customers' cars as well as your own, and fill in for absent drivers.
Finding a low cost motor trade insurance policy is not hard if you shop around. However, it is important to make sure you know exactly what each provider is actually offering so that you have the cover you need. Using a price comparison website is a good idea, because it will help you to see which companies are offering the cheapest vehicle insurance services and allow you to find yourself the best deal and avoid spending more money than you need to.
