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Motor Traders May Not Covered Under Home Insurance

Do You Run Your Business From Home? Are You Actually Covered?

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  3. Motor Traders May Not Covered Under Home Insurance

It might come as a shock to those Motor Traders who are running their business from home that most standard home insurance policies do not allow cover for their business use, and their policy could become invalid if something happens.

Beware: Home Insurance Bought Online May Not Fully Protect You

This means that insurance bought online or through a comparison site may not fully cover the motor traders’ home. For example, if thieves break into a motor traders house, take the keys and steal the cars they are working on or selling, their motor trade insurance would normally cover the cars being stolen, BUT if they haven’t declared on their home insurance that they work from home, the policy will not cover any damage that has been done to the house or cover any personal belongings damaged or stolen. It is imperative that home based motor traders protect themselves and their property with ‘Home Insurance for Motor Traders’. Without the correct insurance in place, traders are putting their homes at terrible risk and could leave themselves out of pocket.

Home Insurance That Acknowledges You Trade From Home

Think Insurance now offer a Motor Trade specific Home Insurance that acknowledges the home is being used for business purposes linked with the motor trade, and covers any accidents or damage caused to the house. A trader’s motor trade insurance may cover any claims relating to the business, but if they impact on the home at all, this new home insurance product will have it covered. Under the Home Insurance for Motor Traders policy, Think also offers cover for accidental damage, personal possessions, garden equipment, bicycles and even flood risk homes.

Add Public Liability To Cover Your Customers

If you work from home and require Home Insurance for the Motor Trade you should also consider adding Public Liability Insurance to your policy. You may find that some customers or clients require you to prove you have this cover in place before they can begin working with you or using your services. Public Liability insurance covers you against claims made by members of the public who suffer injury or damage to property in connection with your business. If someone is injured in your business, you might be required to pay compensation for their loss of earnings and Public Liability insurance protects you financially should that happen. For more information on Think Insurance’s Motor Trade products please head to our Motor Trade page or get in touch today!