• 23, February 2024

  • Time to read: 3 mins

Who Needs Motor Trade Combined Insurance For Premises?

Thomas Walker

Head of New Business

Here, we’ll explain what you can expect from a combined policy and who can benefit from this cover.

For traders with garages, auto and body shops, or car dealerships, motor trade combined policies can be the difference between keeping afloat and going under should the worst happen.

What is a combined motor trade policy? 

A combined motor trade policy is a more comprehensive cover packed into one policy.  

It’s truly tailored to include more than the standard road-risk policy, making it ideal for those with their own premises who need those extras.  

A side view of a mechanic in blue overalls, shining a light under a vehicle

Who needs a combined trade policy? 

We recommend that traders with larger businesses consider combined cover as this can provide financial protection against many issues affecting the industry.  

Since most traders have cars in their care while working on them, stock cover is a necessity all round.  However, many traders need to consider the unique elements of their work that can be vulnerable to risk when a standard policy just can’t quite meet their needs.  

For example, suppose you’re searching for mechanic insurance working in a mobile capacity and from a garage. In that case, you’ll need to consider protection for your tools on the move and machinery on-site.  

Similarly, for car valeters, you’ll need to consider building and tool cover for your premises within your valeters insurance coverage. And if you run an auto shop with a workforce, you’ll need to consider Any Driver add-ons as well as liability insurance to cover your staff. 

Do motor traders need goods in transit cover?  

For motor traders transporting vehicles or carrying valuable items related to their business, goods in transit insurance can be a lifeline.  

This type of insurance protects the goods, tools, or equipment while they’re being transported between locations. The risks covered can vary from theft, damage, or loss while in transit.  

It’s important to note that this policy does not cover your tools or stock on your premises, so you’d need extra tools, stock and machinery cover. The beauty of combined motor trade insurance is that you can tailor your policy to include these elements, should you need it.  

A mechanic fixing a motorbike, holding a screwdriver

Why is building insurance important for motor traders? 

Commercial building insurance is important for motor traders because it provides financial protection for the physical structure of their business premises.  

This coverage is crucial for damage or loss due to risks like fire, theft, or storms. It means you can cover repair or rebuilding costs without too much interruption to your business or financial loss. 

I’m a motor trader in a family-run business. Do I still need liability insurance? 

Yes, liability insurance is important even in a family-run motor trade business. This essential coverage financially protects you against claims for injury or property damage to third parties during business operations.  

While it is well known that a workforce of just family members can be an exception to the mandatory employer’s liability insurance, it’s vital to consider public liability coverage.  

These types of litigations from the public can be extremely costly and time-consuming. This expense can be the difference between going under and staying afloat for many businesses.  

A mechanic stood underneath a vehicle, checking it over

Will my motor trade insurance policy cover my employee’s personal vehicles? 

Your employees’ own personal vehicles will not be covered under your policy as there will be no insurable interest. 

Motor Trade Combined at One Sure Insurance 

For traders with their own premises, finding the right policy to cover all aspects of your business is essential. Protect your business today and talk with our insurance experts about what you need from a policy by calling 08000815113.

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