Motor Trade Insurance

Why Review Your Motor Trade Insurance?

October 23, 2018 by Logan Biggs

If you own a motor trade business involved in the buying and selling of new and/or used cars, MOT centre, tyre fitter, car valeter or a garage servicing and repairing vehicles then you will no doubt have motor trade insurance in place. However, when did you last review the level of cover that you have in place to make sure that it is adequate to meet your current needs? Furthermore, when was the last time that you reviewed how much you are paying for your cover?

If you own your business premises then is the amount that you have the premises insured for sufficient bearing in mind that property values may well have increased significantly over the last few years.

Have you purchased additional plant and machinery since you arranged the cover? If so, is the level of cover enough to replace these things should they be destroyed in a fire or stolen?

As your business has expanded, have you increased the levels and value of stock that you carry on the premises? If so, have you also increased the level of cover within your motor trade insurance?

Is the level of employers liability cover adequate should you be subject to a claim by an employee who may have been seriously injured whilst at work?

Is the level of public liability cover sufficient to meet any claim that a member of the public may bring against your business say due to slipping on the floor at the business premises and injuring themselves?

You may wish to get one or more competitive quotes if your existing motor trade insurance policy is shortly coming up for review. There are many insurers all of whom will probably be interested in taking on your motor trade insurance so you may be able to get the required level of cover but for a lower premium than you are currently paying.

It doesn’t take too long to get one or more comparison quotes so why not do so via our website as we provide access to a number of different insurers. We look forward to being of assistance.

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