When you start a motor trade, it is important to protect the vehicles while you drive them for testing and moving from the point of purchase to your shop, or delivering them to your customers.
Apart from these, here are other reasons why you should obtain motor trade insurance.
More Effective than Private Car Policy
A motor trade cover policy is not just more effective, but it is also more affordable and cheaper than a private car insurance policy. The trader’s policy offers you coverage for several vehicles under the same policy, so you don’t have to pay extra for each vehicle, unlike private car insurance that covers only one vehicle at a time. Moreover, the motor trade indemnity offers other indirect monetary benefits. For example, you can take the car for as many test drives and not worry about paying for repairs and damages. This increases your sales and profits.
Alter the Vehicle without Paying Extra Insurance Money
Usually, with private car insurance, you have to pay for alterations you make or each time you change the vehicle. This can increase the premium amount that you have to pay. However, the motor trade indemnity allows you to alter the vehicle and to change the automobile whenever you want, without paying even an extra penny. If you don’t have any intention to use the business cars for personal use, then you can include this detail in the terms and conditions and get a cut from the monthly premiums.
Covers Several Risk Factors
There are many risks involved in the motor trade business. Usually, employees, customers, and third parties have a higher risk of unwittingly getting into an accident. The insurance policy covers the cost of repairing damages that occur, like damage to the car, harm to customers, and damage to any personal or public property.
Allows You to Save Money and Worry Less
By saving costs of covering for accidents and damages to a property, you can save a lot with the help of insurance. If a motor trader doesn’t have insurance, he/she will not just have to pay for the damages, but will also incur monetary losses. The insurance policy helps by covering the trade owner and making the business both profitable and less worrisome.
Covers Third Party As Well
The best thing about the motor trade insurance policy is that it also covers the third party involved. It is a comprehensive coverage, and does what private car policies don’t do. If there are damages incurred by the third party, like fire breakout, theft, or accidents, they are all covered. It also covers damage caused to the third party if there was negligence by the management of the motor business.
You must take the motor trade coverage very seriously because it is the key to the safety as well as the success of your business. You can always use the savings to expand the business and to make necessary change. We at MTI (Motor Trade Insurance) can help you out in this regard, so contact us right away, by calling us on 0800 1970 444 or 0330 1000 533.