Benefits of Applying for Bespoke Motor Traders Insurance Protection


Motor Trader Insurance policies protect any persons operating a motor business. The term ‘motor business’ incorporates a lot of different business types but they can all stand to benefit from applying for a tailor made quote, to suit their budget and circumstances.

Tailoring a policy to specific businesses and their requirements can reduce costs while reassuring employers that their business and staff are fully covered. This bespoke service saves businesses from wasting money on certain Motor Traders Insurance features they may never need.

As an example, both a car dealership and a commercial vehicle driver require the basic Road Risks feature of Motor Traders Insurance by law – this covers the business as employees drive vehicles on public roads. Still, there will be other features of the policy that make more sense for the dealership to apply for, than the commercial vehicle driver (and vice-versa).

Most insurers operate with the same classified features, though some may tweak costs etc. The standard classified Motor Trade Insurance features are as follows:

Road Risks – Legal requirement to cover all vehicles tied to a business as they travel on public roads.

Public Liability Servicing Sales of Goods – Protects property, staff and associated vehicles from third-party damage or injury.

Material Damage – Protects buildings and contents (vehicles, parts, etc), within business premises.

The car dealership or motor trader will get the most out of applying for all three of these classified features as their business involves public road driving, third-party activity within premises and the constant potential risk of building or vehicle damage. The van driver on the other hand may only need to spend their budget on the first two features.

Customising a motor trade insurance policy to comfortably match a budget is a real luxury for all motor businesses that need protection. An added bonus is the fact businesses can customise their policy even further with many insurers who now offer non-compulsory extras:

Employers Liability – Protection against legal liability for damage resulting from employee injury or illness.

Business Interruption – Protects profit loss from unfortunate disasters like flooding, fire, weather damage etc, for the duration of the repair time.

Goods in Transit – Covers policy holder for property loss or damage during transportation of goods.

There are many more unique optional extras available from different insurers and the good ones offer part-time motor trade insurance policies too. Some extras include legal expense cover which could mount up to be very costly for uninsured motor businesses.

It pays to take the time out and apply for a bespoke policy package to optimise areas of cover for the minimum price. The high quality insurance brokers will offer neutral advice on packages to suit individual needs, speaking with these experts over the phone for a couple of minutes could free up big chunks of extra budget, to be spent in other areas of the business.

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