Why Is It Important To Have Vehicle Sales Insurance?
Most importantly, anyone working as a vehicle salesman needs insurance because it is required by law! However in addition to this there are a number of reasons why having the right insurance in place to cover the services your business offers is essential – here are a few of them; If you are a motor trader and you’ve purchased a vehicle from a customer or an auction and you have to collect it, it is important to have the right cover in place in case you’re involved in an accident during the collection / delivery, otherwise you could end up losing thousands of pounds if something happens and you have to compensate a client out of your own pocket, or end up with damaged stock. Similarly, if you are trying to sell a vehicle but haven’t got the right insurance then prospective buyers might not be able to test drive it resulting in lost sales; alternatively if you do let them test drive it and they have an accident without cover in place, then this could leave you liable for the vehicle and any potential damage caused.
You’re also likely to have multiple cars in stock with a total value in the tens of thousands of pounds, so you need to protect these from theft, fire or other damage too.
With members of the public visiting your home or premises to view your cars comes potential public liability issues in case anyone is hurt or injured on your property as a result of negligence; and if you employ other people in your business you have a legal responsibility as an employer to offer the same protection to them too.
Here’s some more reasons why you need cover:
- The law says you must!
- To cover customer test drives
- To protect customers
- To cover your employees
- To protect vehicles in transit
- To protect stock vehicles
- To cover your tools & equipment
- To cover faulty work or parts fitted
- To protect the public
- To cover your premises
How To Get A Quote?
Want to find out more, speak to an expert or get a Vehicle Sales insurance quote? Call our specialist team on 0800 221 8077 or click Get a Quote below to find out how much you could save.