Motor Trade Insurance
Last Updated: Thursday, 26 August 2016
One Sure Insurance is one of the largest Motor Trade Insurance brokers in the UK. We've been providing motor trade insurance policies for over a decade, and in that time we have insured nearly 30,000 customers. We are proud of the level of service we offer to our clients. As a specialist motor traders insurance broker, we have access to underwriters that other brokers may not have relationships with. This means that when you call and get a quote from us, we can often secure discounts and give preferential rates to our clients.
As a specialist motor trade insurance broker, we can put together a policy tailored to the individual needs and requirements of your business. Whether you're after a basic road risks policy, or a combined premises policy with employers and public liability, you can rest assured that One Sure Insurance has the expertise and competency to keep you protected. We're on hand 6-days a week to offer advice and guidance, and find the best traders insurance policy for your needs. Within just 30-minutes, you could have motor traders insurance set up and ready to go!
What Is Motor Trade Insurance?
Motor Trade Insurance is a necessity for anybody who deals with the motor trade industry. Whether you're buying and selling vehicles, carrying out vehicle repairs and servicing, valeting or offering a road-side breakdown cover service, you will find that we have the right motor trader’s policy for your needs.
We typically offer two types of Motor Traders Insurance - either a Road Risks policy, or a Combined motor trade policy.
A Road Risk’s policy will cover you to drive vehicles on the road, as well as giving you protection from theft, fire and accidental damage; whether that's transporting vehicles to and from your home, or even taking customers out for a test drive. Road Risks policies are typically bought by motor traders who conduct business from their own home. With a Combined Premises trader’s policy, we will insure your business premises, all of the stock you own, and include Road Risks cover.
- Road Risks - A Road Risks policy will give you cover while trading from home. You'll be insured to drive vehicles on the road, and can choose from either a third-party or comprehensive insurance policy. A comprehensive Road Risks policy will give you protection from Theft, Fire, Vandalism and Accidental Damage to vehicles stored at your home address.
- Combined Premises - Combined premises cover is needed if you operate your motor trade business from business premises. If you have a forecourt, or a garage that is separate from your home address, then you will need a combined motor trader’s insurance policy.
Are You A Genuine Motor Trader?
Before contacting us to get a car trade insurance quote, it's imperative that you determine whether you're suitable for a trade insurance policy. Many people attempt to take out a Motor Traders policy, only to find out that they do not qualify for one. In order to be eligible for a policy, you need to be a genuine motor trader who has a financial investment in the motor trade industry. It does not matter whether you operate on a full-time or part-time basis, as long as you can actively prove that you operate in the motor trade industry.
You will be able to prove your connection to the Motor Trade often through receipts. As a Motor Trader, you should keep receipts for all vehicles you buy and sell, as well as any vehicles that you repair, valet or transport. By keeping receipts, you'll be able to prove that you are genuinely involved in the Motor Trade.
Many of our underwriters require proof of trading as a precursor to incepting a Motor Trade policy. Our clients usually have a period of between 14 and 28 days to provide proof of trading - and this is usually in the form of receipts from buying and selling vehicles, or receipts that form part of your business - such as valeting clients vehicles, or providing car servicing and repairs.
What You Need To Know About Motor Traders Insurance Policies
- Combined Premises Cover - If you operate from a business premises, you will need to let us know that you may need combined premises cover. With a Road Risks policy, we will not cover any vehicles which are lost, stolen or damaged while being kept at a business premises. Road Risks cover only offers you protection for vehicles that are stored at your home address.
- Vehicle Value Payouts - Most insurance underwriters will only pay out the trade value of the vehicle, rather than the resale value. As such, you may find that there is a shortfall in the amount of cash you receive for any claims.
- Additional Occupations - This clause typically affects part-time traders who may have full-time jobs with an employer. We can offer added extras and include extra clauses to give you cover for a second occupation - but you must inform us that this is the case. Some of our underwriters will not cover commuting to and from an additional place of work, so you must make this clear to us prior to inception to ensure that you are correctly covered. Failure to disclose materials facts could deem your insurance invalid.
- Additional Drivers - We can cover additional drivers on your motor trade policy, but this will usually increase the overall premium. It is particularly expensive to add under 25's to a traders policy, and many of our underwriters will not allow an under 25 to be on the policy - meaning we can typically only place you with a few, select insurers if you need to insure an under 25 on your motor traders insurance policy.
Whether you're a full-time or part-time motor trader, or whether you trade from home or a business premises, we can access dozens of underwriters such as Liverpool Victoria, Tradewise, Covea, Tradex and many more to find you the best motor trading insurance policy for you. Whether you're in the Valeting business, Car Sales business, Breakdown Recovery business or a part-time car salesman, we can keep you covered with either a third-party, third-party fire & theft or comprehensive trader’s insurance policy. Plus, you'll get access to all of our added benefits - such as updating the MID record for free, and having an unlimited stock of vehicles. In most cases, you'll also be able to add your spouse to the policy, as well as any employees and/or immediate family. Those are just some of the perks of One Sure Insurance!
We're Here To Help In The Motor Trade Business
We have published numerous documents that give you a deeper insight into the Motor Trade industry. We regularly publish guides and articles on helping you to understand what it's like to be a Motor Trader, as well as how to reduce your motor trade insurance premiums each year.
- What Is Motor Trade Insurance? - This article gives you an insight into the Motor Trade industry by explaining exactly what the Motor Trade is considered to be.
- The MID Explained - We go in-depth to explain how the MID works, and why you should regularly update which vehicles are showing on the MID.
- Updating the MID Database - This article explains how you can update the MID record. If you have a trader’s insurance policy with us, you'll be able to use our text service, online service or phone service.
- Want To Be A Motor Trader? - This article gives you an insight into just what it feels like to be a motor trade. We cover the different trader’s insurance policies you might need, and how you can source used cars for your business.
Some of the industries One Sure Insurance covers for the Motor Trade: Valeters, Mechanics, Garages, Tyre Fitters, Mobile Mechanics, Car Servicing, MOT stations, Collection & Delivery, Breakdown Recovery, Car Washes, Windscreen Fitters, Dent Repairs, Panel Beaters, Body Repairs.