Coverage, against damage to the vehicles, employees and any third party in the course of the motor trade business, is provided by motor trade insurance. Under a motor trade insurance policy, it covers occupations like mechanics, car dealers, body repairs, goods transit, car recovery agents, importers. Purchasing motor trade insurance is a legal requirement for some of these businesses.
You need to choose correct one because there are so many options available to cover then you will get best coverage.
Road risk cover: All vehicles which are owned by business and other vehicles which are taken for work purposes are covered by this form of policy. Coverage cannot be provided by this for people to drive any vehicle at any time.
Liability cover: If any accident or injury occurs to someone in your business premises then it will cover all those claims which are made by them. So, it is necessary, if your business involves your customers coming to your place of work. Without this policy, it may be difficult financially when the customers take you court due to they meet an accident at your work place.
Comprehensive insurance: A wide range of cover includes business premises, machinery, stock material, sales and services liability, equipments, employer’s liability and personal accidents and road risks.
Property damage and goods in transit: Loss or damage to own stock vehicles which are used at business premises is covered by this policy. Protection can be provided for the damage or loss to vehicles or other stock and equipment while passing those from business-premises.
There are many types of coverages available. So, you should select required one carefully to suit your needs.