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Motor trade fleet insurance

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Motor trade fleet insurance

By having a Motor Trade Fleet Insurance policy all of the vehicles you own, work on, or shuffle around will be financially protected from a multitude of events that might cause them damage. The level of protection offered is from simple road risk to full comprehensive cover.

Who needs motor trade fleet insurance?

Those individuals who can benefit from motor trade fleet insurance have two components in their business. First, the business must operate in the motor trade business sector. The second factor is the business owns or handles 3 or more vehicles.

These businesses include car and truck dealers both new and used, repair shops and valet service operators to name a few. The business can be a full time operation or even a part time operation out of the owner's home.

What is motor trade fleet insurance?

The issuing of a motor trade fleet policy will have at minimum for a qualifying business owner Third Party Only cover. This is the minimum cover necessary as required by the UK Government so the vehicle will have road risk insurance when it is out on public roads.

Other levels of road risk a business owner can have for more than the minimum protection includes Third Party Fire and Theft and Full Comprehensive. The full comprehensive coverage will cover the costs of your vehicles when they are damaged in a road risk accident, accidental damage, or are vandalised on your lot. A complete description of the different levels of road risk cover is described on our home page compare fleet insurance.

What types of vehicles can be covered with a motor trade fleet insurance policy?

All types of vehicles can be covered with a motor trade fleet policy as long as it is being purchased, sold, driven like what valets do, or repaired. Some examples include:

  • vans
  • trucks
  • construction and farm equipment
  • motorcycles
  • mopeds and scooters
  • cars of all makes and models

If it has wheels and is propelled by a motor it can be included in a motor trade policy. The fleet part of it is when there are 3 or more of them owned or in possession of the business.

Who can operate the vehicles under a motor trade fleet policy?

The operators of the fleet vehicles have to be named in the policy or the policy can be written that the vehicles and not the operators are named in the policy. What is advised is that all operators be over the age of 25 with a clean driving record and criminal record. These operators must be the owner of the business or an employee.

What other covers should a motor trade business owner have?

For a business in the motor trade business sector who has employees, the UK government requires them to have an Employers Liability policy. This policy pays out when an employee becomes sick or is injured on the job.

Public liability insurance is advisable. This is financial protection if a third party claims you or your business that they were hurt on your property of their property was damaged by you or an employee.

Why should I get fleet insurance?

The advantage of fleet insurance is that all of the vehicles you have covered are under one policy. With multiple vehicles under one policy insurance firms provide a discount that can be as much as 10% off per vehicle added to the policy. This type of policy also neatly organises the cover for all the vehicles in an orderly fashion so making a claim or adding a vehicle is easy.

Organisations in the motor trade business sector that deal with numerous vehicles over the course of a year or even a day, the advantages of having a motor trade fleet insurance outweigh the disadvantages. The costliness disadvantage would be if an employee is accident prone, then the number of claims rise as will the premium costs.

Motor trade fleet insurance

Protect your fleet today. Compare quotes from multiple brokers.