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Mechanics Motor Trade Insurance

Ultimate Guide To Insurance For Motor Traders

A Guide to Car Insurance for Motor Traders

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Contents:

1. Introduction

Essentially, Motor Trade insurance allows men and women who work in the motor trade to do their jobs, knowing they can be protected against a variety of different things that could happen, which without having the right cover in place, could put the future of their business into jeopardy.

Motor Trade Road Risks insurance is similar to the regular private car insurance you are required to have if you drive a car on a UK road. There are several levels of cover available including Comprehensive, Third Party Fire & Theft, and Third Party Only. Like private Car insurance, your yearly Motor Trade insurance renewal can be affected by your No Claims Discount and the more you have, the more you can save.

Read this Guide to find out exactly what Motor Trade insurance is, whether you need it, what type of cover is right for you and how you can lower the potential costs

2. What Is Motor Trade Insurance?

Motor Trade insurance, sometimes called Road Risk insurance, can mean anything from providing insurance for car salesmen to people who valet cars. It is fundamentally an insurance product for anyone that works with vehicles of various types; it doesn’t matter whether that business is big or small, such as a mobile mechanic, or a large forecourt selling cars, vans or motorbikes. A Road Risk insurance policy can cover the person to drive any vehicle, in their possession, for either personal use or for motor trader purposes, including any customer cars, where driving is required to carry out their work.

It protects the business or motor trader by offering varying levels of cover:

 

A Third Party Only policy is the most basic level of insurance cover you can get as a motor trader, it’s the legal minimum requirement and similar to its private car counterpart, as it only offers a basic level of protection. If you hit a third party, your insurer would cover the costs of their vehicle, but not the one you are driving. 

Third Party, Fire, and Theft covers motor traders to drive their own cars and vehicles belonging to customers on the road, plus they will also be covered for fire, theft, loss and damage to any vehicles under their control. In the event of a fault accident any third party injuries, damages and claims will be covered under the Third Party, Fire and Theft Motor Trade insurance policy.

Comprehensive includes everything mentioned above, but also covers accidental damage, whether that’s to vehicles the motor trader owns or to customers’ cars in their possession. 

There are other Motor Trade insurance policies, such as Combined Motor Trade insurance, which differs from Road Risk insurance and can cover much more, including physical premises the business is trading from.. For motor traders who regularly interact with the public, who own or operate from their own premises, there are liability insurance packages available, including Employers’ Liability, Public Liability and Product Liability which all offer varying degrees of cover for different aspects of operating as a motor trader.

3. Who Needs Motor Trade Insurance?

If you sell, repair, modify, transport or clean vehicles, then you will need Motor Trade insurance, so this includes vehicle sales, tyre fitters, mechanics including mobile mechanics, valeters, body shops, airport car jockeys, vehicle recovery, and car garages.

It doesn’t matter whether you operate as a motor trader full-time, or part-time, you will still need to take out a Motor Trade insurance policy. For example, if you’re flipping cars and you only sell one car every other month, that would still mean you’re a part-time time motor trader and therefore you would require the necessary insurance.

Vehicle Sales insurance is for anyone who sells vehicles, either on a part-time basis or as a full-time business. The values and types of vehicles you trade can affect your premium.

Mechanics and Bodyshop insurance is for anyone who repairs cars (including mobile mechanics), whether that’s doing it from your own garage on your property or whether you operate from a specific business premises, and again, depending on how big your operation is, your level of cover may be different.

Bodyshop Insurance

Vehicle Recovery insurance covers people in the business of collecting vehicles that have broken down or been involved in accidents and need to be removed from the scene.

Tyre Fitters, whether it is a small or large operation, and whether you work from a premises or do it remotely, will need insurance. 

Valeters insurance is for anyone who works as a valeter or a detailer, which can involve working from home, operating as a mobile valeter, working from a premises or valeters that are contracted to dealers or garages.

Car Jockey insurance is for people who work at car parks and are responsible for parking and moving customer vehicles, and includes both on-site and off-site. This can include car jockeys at airports, restaurants and hotels.

Car Garage and MOT Garage insurance is for motor traders who operate a car garage or an MOT test centre, and can often include tools and machinery cover.

4. Why Do I Need Motor Trade Insurance?

Whatever aspect of the motor trade you work in, you will need Car Trade insurance, for a number of reasons. The most important reason why you need insurance is because it is a legal requirement under the Road Traffic Act 1988. 

If you drive on a UK road or in a public space, without adequate insurance, you will be breaking the law and if caught, you risk being given a fixed penalty of £300 and six penalty points. However if the case went to court you could receive an unlimited fine and could be disqualified from driving.

The minimum level of cover you need to drive on a UK road is Third Party Only insurance, which covers the cost of damaging another driver’s vehicle in the event of an accident.

Tyre Fitters

Why can’t I use my car insurance for my motor trade business?

In the terms and conditions of most Private Car insurance policies it will state that you will not be insured for activates such as track days, rally driving and operating as a motor trader. This means that if you are driving a customer’s car, you will be driving it uninsured and you could be charged with, if caught, having no insurance. In the event you cause an accident in the car belonging to a customer, then your insurer may void your insurance which would then be treated by the police as having no insurance in place.

Even if you only operate as a motor trader on a part-time basis, such as selling cars, you will need insurance, however there is a specialist Motor Trade insurance policy available, this is called Part-Time Motor Trade insurance.

By not having the correct insurance for a motor trader you could risk being disqualified from driving, which could seriously impact your ability to operate as a motor trader or run a motor trade business, and find future insurance policies a lot more expensive.

However, as a motor trader, Third Party Only insurance may not be the best cover for you. Indeed, even Comprehensive may not be enough cover. It all depends on how big your motor trade operation is, how many vehicles you come into contact with and whether you employ anyone. 

If you do employ additional members of staff, even if it’s just one receptionist, you will be legally required to purchase further insurance cover. This is called Employers’ Liability insurance and under the Employers’ Liability (Compulsory Insurance) Act 1969 it is an offence not to have adequate insurance in place. According to the Government website you must be covered under your policy for at least £5million by an authorised insurer. For each day you aren’t properly insured you could be fined £2,500.

Bodyshop insurance

Even without taking the legal requirement into account, it’s still incredibly important for motor traders with employees to take out motor trade Employers’ Liability insurance, as any motor trade business can be a hazardous workplace for employees, even a forecourt that sells cars. Employees can come into contact with anything from heavy machinery to toxic chemicals depending on the motor trade business, so as with regular Car insurance, making sure you’re financially covered in the event of an accident could save you thousands or potentially millions in the long run.

This is why, if you’re a public facing motor trade business (and the majority of motor trade businesses are), it is very much worthwhile taking out Public Liability insurance. Although it’s not a legal requirement, it offers you protection against claims from members of the public, and just like Employers’ Liability insurance, it could cost you more if an accident does occur and you aren’t insured. Similarly this is also why motor traders, such as mechanics, would need Product Liability insurance. If something goes wrong with a product you sell or supply, it means you could be covered if a customer makes a claim. Although this type of liability insurance is optional, it does provide peace of mind.

5. Motor Trade Road Risk vs. Combined 

Depending on how big your motor trade business is, you will either need to choose between getting a Road Risk insurance policy or a Motor Trade Combined insurance policy. A Combined policy is more suitable for motor traders who operate from a business premises, which can cover everything Road Risk insurance does and more.

Road Risk insurance is ideal for any motor trader who operates their motor trade business from their own home or even a specific business premises (but do not need cover for the premises). A typical Road Risk insurance policy will offer three types of cover for motor traders, which range from the basic minimum legal level of cover to a Comprehensive insurance policy. If you’re just starting out, the basic level of cover may be suitable while you grow your business, or if your motor trade business is only a part-time operation. If you become a full-time motor trader your Motor Trade insurance policy may need to reflect this, so always make sure you let your insurer know of any changes to your business that may affect your insurance.

Mechanic

If and when the time comes to operate from a specific business premises, you may need to consider upgrading or changing your Motor Trade insurance to a Combined cover policy, meaning you will have the correct insurance tailored to your specific motor trade business. A Combined cover insurance policy will cover everything a Road Risk insurance policy does, but will also insure the building(s) you operate from, similar to a home contents and building policy. This means the apparatus required to run your motor trade business and do your job can also be covered under a Combined policy, as well as providing Liability insurance.

To sum up, the more complex your motor trade business is, the more in-depth your Motor Trade insurance policy can be to support you.

6. What Types Of Insurance Are Available For Motor Traders?

In addition to the basic levels of Motor Trade insurance (Third Party Only, Third Party, Fire & Theft, and Comprehensive) and Combined insurance, there are many various add-ons that a motor trade business may need, depending on what area of the motor trade world you work in. For example, a Tyre Fitter’s insurance policy may differ greatly from a Car Jockey insurance policy, because of the nature of the work, including the tools, machinery and stock of vehicles needed to carry out jobs.

However most motor traders will either take out some form of Road Risk insurance or a Combined insurance policy which cover everything in the business that would need to be insured. There are further variations to policies which depend on how a motor trade business is run and the physical set up of the motor trade business. This section of the Guide will explain what things could be covered under each Combined Motor Trade insurance policy for each type of motor trade operation including mechanics, tyre fitters, etc…

Car keys

Vehicle Recovery insurance is aimed at breakdown and recovery service providers, whether you work full-time or provide a vehicle recovery service part-time. A Combined insurance policy for a breakdown & recovery service can depend on the size of the business and what happens to the vehicles recovered. If the vehicle recovery service only picks up a car and then delivers it to somewhere else, such as a garage not owned by the vehicle recovery service, then the insurance policy may only include Carriage of Vehicles, which insures vehicles in transit such as the cars on the back of the tow truck. So in the event that your recovery service vehicle is stolen with a client’s car on it, you would be insured for the loss of the client’s car. You could even insure yourself for Third Party Only as well as Carriage of Vehicles, which could be a means of saving money on the premium but still ensuring your client’s vehicles are insured.

Collection and Delivery Agents insurance is a policy aimed at motor traders who are in the business of delivering or collecting vehicles. It covers agents who transfer cars from auction houses and garages using either trade plates or a recovery vehicle and can include carriage of vehicle cover.

Car Jockey insurance will typically be taken out by a company or sole motor trader that services the contract for places like airports, hotels and nightclubs. The things that can be covered under a car jockey insurance policy again depends on each business. If the car jockey stores the vehicles in their own compound then they may need to have Compound cover and if they have more than one compound they will need a car trade insurance policy that covers multiple premises. The indemnity of the vehicles covered can be flexible, so it can include anything from luxury expensive cars, to your average hatchback; you may even be able to split indemnity with your own vehicles. This is useful if the personal vehicle you are driving is low value in comparison to the vehicles your clients own.

Mechanics, Tyre Fitters, Valeters and Body Shop insurance will all have more things they need to insure because of the work they do and where they operate from. The policies may be similar to Vehicle Recovery and Car Jockey in the sense that it can include Carriage of Vehicles and Flexible Indemnity, for example if a mechanic or tyre fitter operates a pickup and collection service. They can also take out Tools & Machinery cover.

Mobile Mechanics Insurance and Mobile Tyre Fitters insurance will be slightly different to a normal Tyre Fitters or Mobile Mechanics insurance policy due to the different nature of their jobs. Things like where the tools and equipment for the job are stored will need to be taken into consideration when applying for a mobile Motor Trader insurance policy. Insurance products such as Tools & Transit will cover the motor trader’s tools whilst they are stored in work vehicles and they can also be covered for overnight storage. As a mobile motor trader you are less likely to have a policy which includes cover for offices and premises, however you’re probably going to be spending more time on the road than a normal motor trader would be, therefore your Motor Trade insurance premium will reflect this.

If you are a motor trader that owns or operates from a premises then your Motor Trade insurance cover may also need to reflect this, just as there are specific things to cover for mobile motor traders, there a certain things that you might want to insure on your premises. For example Buildings & Contents cover will insure the building and anything in it which is related to the motor trade business, against damage, break-ins and fires. This type of cover is usually aimed at motor trade businesses such as Car Garages, Tyre Fitters, and Mechanics.

Mechanics insurance

Liability insurance packages are also available to you as a motor trade business, and there’s also one that is compulsory. Employers’ Liability insurance is legally required for any business that has at least one employee working for them under the Employers' Liability (Compulsory Insurance) Act 1969, and the employer must post the details of the insurance for employees to view. Even taking into account the financial repercussions, having a solid Employers’ Liability insurance policy for your motor trade business can be incredibly important. You need Employers’ Liability insurance, not just because it’s the law, but because it helps protect you against any claims. If an employee has an accident in the workplace or while undergoing a work task even if it’s not on your property, your motor trade business will be liable, and not having the right level of cover could be costly. As a motor trade business the workplace and nature of the job will probably be a lot more dangerous than a regular office job, for example a car garage may have specialist equipment and chemicals which heightens the risk of an accident.

Legally you must be insured for at least £5million but most Employers’ Liability insurance policies cover you up to £10million. For each day that you don’t have sufficient Employers’ Liability insurance, you could be fined up to £2,500, and failure to provide the certificate to Health & Safety Executives and not displaying it for employees too, wields a fine of up to £1,000. 

Product Liability insurance, whilst not a legal requirement, can be very useful. It’s primarily aimed at any business that supplies a product to the consumer. In the motor trade world this could be a mechanic fitting new brake pads to a vehicle, and having Product Liability insurance would cover the mechanic in the event that the break pad fails and causes the vehicle to crash. Therefore for some motor traders like mechanics, tyre fitters, body shops and car garages, Product Liability insurance could come in handy, whereas for many other motor traders the risk may be so low that it might not be worth having. What it does provide though is peace of mind, for you knowing that if something fails you will be covered.

product liability insurance

Public Liability insurance works in a similar way to Employers’ Liability cover, in the sense it protects other people, although it’s not a legal requirement and may not be needed. Public Liability protects you in the event a customer sustains an injury or their property is damaged whilst on your premises.

If you own, or are the Director of, multiple motor trade businesses and you need to insure them all then you will be able to get an insurance policy that covers multiple businesses. It’s easy to do and most insurance brokers, and especially expert motor trade insurance brokers such as Think Insurance, will be more than capable of helping you find a policy that fits all your needs.

Which Should I Choose? 

For motor traders just starting out, a Third Party Only motor trade insurance policy will be enough to get you started, both in the legal sense and the monetary sense. Depending on how secure your place of business is and how much stock you have, Third Party, a Fire & Theft Motor Trade insurance policy may also be suitable. However, the bigger your motor trade business, the more employees you may have, and the more stock you may carry, which means there is a higher chance of things going wrong. 

Insurance for motor traders is not about what you can afford to insure, but it’s what you can’t afford to replace if it’s not insured, or what you can’t afford to payout for if something goes wrong. For example, if you have a piece of equipment or machinery that is vital to your motor trade operation and it gets broken or stolen in a break in, you will need a Motor Trade insurance policy which covers this, so that you don’t get left out of pocket. It also means you will be able to get up and running quickly and may be able to recoup lost business costs.

Road

If you are just starting out, it might not be financially practical to insure everything but as your business grows there will be more aspects of your business that need insurance, and even some that you will legally be required to insure, such as employees. Your interaction with the public can also determine what type of insurance you need and whether you need Public Liability insurance. If your interaction is limited or perhaps you’re only showing people around a small forecourt then there may not be a need for Public Liability insurance, but if you allow customers to come into a mechanic’s workshop, which can be a dangerous place, then it might be worth taking it out.

To sum up, when choosing what type of motor trade insurance you get, you need to consider the cost, employees, products, stock, vehicles, premises and tools.

7. Things To Avoid When Arranging Motor Trade Insurance

When taking out Motor Trade insurance, it’s not about what you should avoid, it’s more about what you should do. When speaking to a Motor Trade insurance broker, you should be 100% honest and truthful about your motor trade operation, although there may be some things you might not be aware of that you must do. Here’s some things you should definitely avoid doing:

Fronting. It’s a concept more commonly associated with insurance policies for new or young drivers, but can easily be used to try and circumvent a higher premium or utilise a No Claims Discount on a motor trade policy. Not only is this illegal and a good way to get your policy voided or cancelled, but it also negatively affects your No Claims Bonus going forward, which means that when you do get caught fronting, and you will, your insurance premium will still be high because of a lack of No Claims Bonus, as well as the reasons you may have been fronting for including previous claims, convictions and bans.

Claiming to be a full-time motor trader instead of a part-time motor trader could initially get you a lower premium, but when you are found out you may find yourself with a cancelled or voided policy. Similar to a normal private car insurance policy, your job or occupation can affect the price of the policy.

Undisclosed claims is as simple as it sounds. If you’ve had a claim on an insurance policy, and that includes a private car policy, home insurance or anything else, you must inform your motor trade insurer.

Bodyshop insurance

Undisclosed convictions can also lead to your policy being cancelled or voided, as there is specialist Convicted Driver Motor Trade insurance available, which can help reduce the price of your motor trade insurance policy.

Falsifying addresses is a common occurrence in insurance fraud. It’s a simple fact that some areas get better insurance rates than others, because of factors such as lower crime rates. This means it can be tempting to use an address of a friend, family member or maybe even an employee that lives in an area with a lower insurance bracket. This would be an incredibly stupid idea if you wanted your Motor Trade insurance policy to cover break-ins, loss of stock etc, as once you make a claim, the insurance company may visit your business or ask for a police report and if they find out you haven’t been truthful about your address, your claim could be rejected and your insurance cancelled or voided – which would mean no payout.

Claiming to have parking when there isn't is also another way to falsify your address, by misrepresenting the type of premises you operate from. With the use of modern technology such as Google Streetview or Bing Maps Streetside, it’s easy to get an idea of whether your motor trade business is actually in the area you say it is. For example, if you are trying to insure a mechanic’s business and you claim to have an area where you can safely store customer’s cars, but in actual fact you do not and you store them on the road (which poses a higher risk), then the insurance company will more than likely open an investigation to establish the truth. Indeed, the insurance broker will most likely use those services to find out where your motor trade business is located and will question you if what they can see on their screen doesn’t match what you are telling them. An example of this is telling your insurance broker that you store vehicles on a three car drive, when in reality you don’t and instead store your vehicles on a busy main road. Of course, things can change and services such as Streetview aren’t updated every week and are therefore used only as a guide.

Parking

Insuring vehicles for family members or friends to use privately and not for business purposes would not be covered under a motor trade policy. If you take out Motor Trade insurance to cover multiple cars then you are usually only covered to use them for business purposes, however there is one exception, as a spouse can be insured under a Motor Trade policy to drive their own personal car.

Not declaring modifications, undervaluing stock, or not declaring other categories of stock is another good way to get your policy cancelled/voided, as it can drastically alter the premium you have paid or are paying for. This is why it’s important to be honest about the stock you carry, and any modifications to vehicles in your possession. If, for example, you are a car dealer that usually carries vehicles that aren’t described as high end or luxury but occasionally deal in sports cars, then you must make sure that your Motor Trade insurance company is aware.

Claiming to be an employee rather than a Company Director may make your premium cheaper, but it can also reduce the benefits of having a motor trade policy, such as being able to use cars for social use, and have your own personal vehicle covered under your Motor Trade policy. This can be a cost saver as you won’t need to insure it under a Private Car insurance policy. In addition to these benefits you will also stop yourself from getting a No Claims Bonus, as well as the cancellation risks and the high chance that a claim would be rejected on a personal vehicle.

If you do any of these things, your Motor Trade insurance policy could be cancelled or voided and any pending claims could be rejected.

In the event that your motor trade policy is cancelled then this means you will no longer be insured as a motor trader and you risk breaking the law, if for example you use any cars that were previously insured on UK roads or you have employees working for you.

When a Motor Trade insurance policy is voided it means that you or your motor trade business were never insured, which means if you were legally required to have insurance for any reason you would have been breaking the law.

Mechanics insurance

Voided or cancelled policies don’t affect previous claims made by the motor trader, so for example you wouldn’t be asked to reimburse your insurance company for a previous pay-out, but there’s a good chance that a pending claim would not be paid out.

If you try to save money by misrepresenting yourself and/or your motor trade business, it will cost you more in the future, especially when the insurance company becomes aware and has to cancel/void your insurance policy, and you then need to purchase a new Motor Trade insurance policy. In addition to that, you may face fees as a result of your policy being cancelled. It’s not worth the risk!

8. How To Keep Your Motor Trade Insurance Premium Down

Increasing your excess for any insurance policy is usually a great way to bring the premium down. Sometimes it can help a lot and other times it may have a minimal effect. Restricting what can be claimed on your Trade motor insurance policy can also help keep the premium down.

Keep the number of drivers on the policy low. The more drivers you have added to your Motor Trade policy, the higher your premium will be. This is because there is a higher risk of an accident, due to the higher number of people on the policy. Unlike normal car insurance where you can have multiple drivers, only one will ever been driving that car at any one time. However a motor trade multiple driver policy means there can be more than one drivers on the road, in different cars at the same time.

The age of drivers on the policy can also have a significant effect on the premium you pay. Drivers under the age of 25 are seen as higher risk to insurance companies, and therefore you will pay a higher premium because of this. If you can avoid adding them to the policy you may find yourself saving some money (this also applies to drivers with convictions). 

Run a comparison quote to find out what the best deal you can get is. This can be done whether you’re buying a brand new policy or looking to reduce your premium when renewing. You can do this yourself by ringing up several companies or looking on the Internet. 

The payment method you choose can also have an impact, like a Private Car insurance policy. If you choose to pay in monthly instalments you will likely end up paying a higher overall premium. This is because if you choose to pay by instalments, there will likely be an interest charge on the amount being funded for you premium, which brings the total cost of cover up.

Building up your No Claims Discount is a great way to reduce your premium, but if you’re just starting out, you won’t have a Motor Trade insurance No Claims Discount built up. However many insurers will take your private car No Claims history into account and if you have a lot built up, it could lower your Motor Trade insurance premium.

Consider where vehicles are kept and look for parking facilities for stock if you don’t have a secure place to park them. The less secure your vehicles and stock are, the higher your insurance premium will be. This is because there is a higher chance of them being stolen or damage occurring. If you’re a part-time motor trader parking your stock on the street then your premium will be higher than a motor trader who can store vehicles in a secure and locked garage. Similarly if you’re a mobile mechanic who has to store their tools in a vehicle overnight, the more secure that vehicle is, the lower your premium will be. Things like immobilisers, trackers and alarms installed on your mobile mechanic vehicle as well as where that vehicle is kept will help reduce your insurance premium.

Motor trade stock

Review where your motor trade business is based and see where you can get a better deal, although it might not be plausible to just up and move from wherever you live or where your motor trade business is located, if the opportunity arises to move premises then you should take your insurance premium into account when choosing where to base your motor trade business. Even if it’s not possible to relocate then you need to make sure your stock, vehicles, home and premises are all secured. A gated premises, even if it’s located in an area with a higher crime rate, could still help lower your premium.

One of the best ways to lower your premium is by providing proof of trading. It may sound simple but it shows the insurer that you are a legitimate motor trader. You might find that the insurance companies offering the cheapest premiums available may insist you provide your proof of trading and if you do agree to this condition and fail to provide the necessary paperwork you could find that your policy gets cancelled.

9. Where Can I Get Cheap Car Insurance For Motor Traders?

Many Motor Trade insurance companies will be able to offer cheap insurance quotes upon proof of trading, but your best chance of finding a cheap Motor Trade insurance policy is to go through a reputable insurance broker, such as Think Insurance, who could have access to better and cheaper rates. 

Choosing the cheapest insurer for your Car Trade insurance might save you a few pennies, but it might not be the best option for your motor trade business. You need to make sure your Motor Trade insurance policy covers everything that you need it too; cheapest isn’t always the best!

10. Why Choose Think Insurance?

Not only can Think Insurance offer competitive Motor Trade insurance, they can also guide you through the process, helping you decide exactly what you Trade Car insurance policy needs to cover. With over 30 years’ combined experience, the experts at Think Insurance have a good network of contacts and access to a panel of leading Motor Trade insurers.

This helps our dedicated staff to get you the best deal they possibly can. As well as our call centre being UK based, we can offer flexible payment options as well as catering to motor traders with convictions.

We’ve been voted the ‘UK’s Best Broker’ for three years running and as one of the leading independent Motor Trade insurance brokers in the country, we are well equipped to deal with any enquiry. To get a Motor Trade insurance quote from Think Insurance, click the ‘Get A Quote’ button or call one of our motor trade experts for free on 0800 221 8077.

11. Conclusion

Having Motor Trade insurance is a legal requirement, but not having the right Motor Trade insurance can be a costly mistake. Whilst it can sometimes be expensive, it’s important to make sure you remain truthful and honest when taking out Motor Trade Car insurance cover as you could end up with a voided policy. Instead there are many legitimate ways to lower your premium that will benefit you long term, without jeopardising your Motor Trade insurance policy.

Choosing your Motor Trade insurance policy and the insurance company you go with can be a difficult task for even the most experienced motor trader. However, it essentially comes down to two things: What insurance you are legally required to take and what you can’t afford to not insure? Things like equipment and machinery don’t need to be insured but if they are broken or stolen and you can’t work, you may lose out. If you are still unsure what you need to insure, it’s best to speak to a Motor Trade insurance specialist. At Think Insurance we have plenty of motor trade experts who can help decide what you need to insure, so get in contact today by calling 0800 221 8077 or if you know exactly what you need you can click ‘Get A Quote Below’.

 

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