Motor trade insurance provides coverage against damage to the vehicles, employees and any third party in the course of the motor trade business.

For example, if your business involves buying, selling and fixing cars, then it is necessary that you obtain motor trade insurance, then motor trade insurance can protect you and your business from financial loss should something bad happen in the future. No matter how big or small your motor trade business is, it is always important that you hold insurance for it to thrive well. However, since there are different kinds of businesses related to motor trade, there are also different insurance policies available for a business.

Usually, there are three types of motor trade insurance one can choose from:

Comprehensive Insurance: This policy provides a wide range of cover, including business premises, stock material, machinery, equipments, sales and service liability, road risks, employer’s liability and personal accidents.

Motor Trade Road Risks: Any individual engaged in the motor trade business, full time or part-time, can qualify for this policy. This policy provides cover against damage while the vehicle is on the road or parked at the policyholder’s address or business partner’s location.

Liability Insurance: Such a policy shields the policyholder against damage due to liability factors. An employer’s liability insurance provides cover against damage or bodily injury sustained by an employee in the course of business. Public liability insurance covers damage to a third person due to an accident by the insured vehicle.

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