What Does Motor Trade Insurance Cover?
Motor trade insurance can include a wide range of coverage options, such as:
Public and Product Liability
Protect your business from third-party accidents and legal claims, covering the cost of legal fees and potential compensation. This cover is essential for safeguarding your business, employees, and clients, ensuring you’re covered in the event of an accident or injury on your premises.
Professional Indemnity Insurance
If your motor trade business provides advice or professional services, professional indemnity insurance can protect you against claims of negligence, errors, or omissions. It also covers legal fees and financial losses incurred by clients due to your actions or advice.
Machinery Breakdown and Electronics Cover
Cover your essential equipment from unexpected breakdowns, including electronics such as computers, point-of-sale systems, and other machinery. This coverage helps prevent operational disruptions due to equipment failure and can extend to physical damage to your business property, stock, and fittings.
Customer Motor Vehicle Cover
This policy covers the vehicles of your customers while on your premises, including damage, theft, or accidents during test drives. This coverage protects both you and your clients, ensuring peace of mind for everyone involved.
Money Cover
This provides protection for your business’s cash, whether it’s on-site or in transit. If money is lost or stolen while on your premises or during a bank deposit, this cover can help recover the loss.
Property Insurance
This coverage isn’t limited to just your physical premises. It includes protection for your buildings, stock, contents, and any assets essential to your business operations. Additionally, it can cover fines for accidental breaches of the law.