Motor Trade Insurance Advice and FAQs

Motor Trade Insurance is vital if you are in the motor trade business. The following information will help you to understand the full procedures and policy information before taking out your motor trade insurance.

Motor Trade Insurance Quote
When filling out a quote form or speaking to a sales adviser; please make sure that the information you give are as accurate as possible at the time. Any inaccuracies, misleading or omitted information may affect your cover and create a problem if you need to make a claim. If you are unsure, please ask us for guidance.

Types of Vehicles covered with Motor Trade Insurance
The first thing an insurer is likely to ask is what type of vehicles you are working with, example private cars, commercial vehicles, or HGVs? Here at Insurance factory we cover all standard cars, sports/high performance cars, import/export cars, classic car, American, Canadian, modified/kit cars, quads/bikes, CVs over 3.5t, over 7 seat vehicles and other.

Nature of your Motor Trade Business
What is the nature of your business, are you involved in selling / dealing vehicles, or in their maintenance, service and repair? It is very important to have a clear picture of your business to give to potential insurers, to make sure you get quotes covering all necessary aspects of your business. The Insurance Factory can cover all of the following business activity; sales, repairs/servicing, valeting, recovery, collection/delivery for fee and other.

Types of Motor Trade Insurance cover available
There are various types of policies that a motor trader can opt for. Some cover road risks only; i.e. risks when actually driving the vehicles, and others offer broader coverage.

If you are in the business of vehicle sales, you will need cover that allows you to test drive and demonstrate a number of different vehicles, as well as collect and deliver them, take them to the workshop for repairs if necessary, etc. usually, this is called a ´road risks´ policy.

Different levels of cover:
Third Party only - which is the minimum legal requirement and doesn´t cover you in case of fire or theft.

Third Part Fire and theft Policy - which is the minimum legal requirement and also covers you in case of fire or theft

Comprehensive - which has a much broader level of cover for you and other people´s vehicles; Insurers will require quite detailed information about the vehicles registered to you or in your care as part of your business, so check with them how this information is submitted and maintained - you want an easy to use and accessible system.

You should also check whether a policy covers Social, Domestic and Pleasure use too (referred to as SD&P by those in the know). If it does, that means you can use your vehicles for driving to and from work, for example, as well as in the course of operating your business.

Try us for a great Motor Trade Insurance quote

Motor Trade FAQs

1. Can I put my own car on this policy?

answer= Yes you can

2. How many vehicles can I have on my policy?

answer= Most of the companies we use don´t have a limit

3. What age of driver do you cover?

answer= Age 24 to 73

4. Can I have business use for my main occupation?

answer=Yes for a small additional premium

5. How many drivers can I put on the policy?

answer=We have some companies that can insure up to 6 drivers!

6. What type of vehicles can I drive?

answer=Whatever your need we have a company that can cater for it

7. Do I have to tell you every time I get a new car in?

answer=You can inform us by phone or email but any vehicle you keep over 7 days we should be made aware of

8. Do you offer installments?

answer=We can offer the price over 11 months with competitive rates

9. How quickly can I be covered?

answer=With a card payment we can cover you instantly and even email you documentation

10. What is the maximum level of indemnity?

answer=£50000 is our maximum