Can I Get Cover for Vehicles at My Trade Premises?
You may need additional cover on your Motor Trade insurance policy to do this.
If you are a motor trader and you keep your vehicles at your home premises, then this will be covered under a Motor Trade Road Risk insurance policy by the majority of the insurers we use.
If, however, you want to keep your stock off-site at your trade premises or other business premises then you will have to arrange for additional Stock of Vehicles cover to be added to your policy. Whether they are vehicles that are part of your business stock, or your own personal vehicles, they can all be covered with Stock of Vehicles cover.
However, depending upon which insurer your policy is with, this may or may not be possible. If you want to add it and it isn’t possible with your current provider, we may be able to arrange a new policy for you which can include it, with a different insurer.
There will be an additional premium for adding Stock of Vehicles to your Motor Trade insurance policy, but the cost should be discussed with you before you proceed, allowing you to choose whether to go ahead with it or not.
There may also be restrictions about the type of vehicles that you have, whether stock or personal vehicles, and whether they can be covered. You will need to make sure that the vehicle types you own or sell are covered under your policy, and you may need to check your Indemnity levels. However, if you have been up front with your broker about the vehicles you have personally and within your business, and arranged for the appropriate level of Indemnity on your policy, then you should be covered.
For full details, or to discuss how adding Stock of Vehicles cover could be incorporated in to your Car Trade insurance policy, please call our experts on 0800 221 8077.