Motor trade insurance
Overview of motor trade insurance
Motor trade insurance is aimed at those individuals
and firms who (not surprisingly) are in the motor trade. This does not
just mean buying and selling vehicles, but also servicing and repairing
as well as valeting, scrapping, repossession, etc, etc. Businesses
range from the sole motor trader (perhaps part time) just requiring road
risks insurance, to large national franchise and independent dealers.
B. Portwood & Co Ltd offer three types of motor
trade insurance.
- Motor trade road risks insurance - designed
for the smaller business where there is no need for cover on
property. This policy is suited to businesses where there is buying
and selling and possibly several own vehicles.
- Motor trade own vehicle insurance - designed
for people in the motor trade who do not buy and sell vehicles,
probably have a van or car which they use to visit customers e.g.
for valeters, mobile mechanics. Most standard car insurance policies
exclude use for motor trade purposes so if your business does
involve motor trade use then you should ensure that a proper motor
trade compatible policy is taken out.
- Motor Traders combined (internal risks)- to
include premises risks e.g. machinery, tools, public liability
Motor Trade Insurance Online
Your next course of action is to select the motor
trade insurance option(s) that best suits you.
Our basis for offering motor trade insurance
As we are insurance brokers, we have several motor
trade insurance companies we can approach for quotes. We appreciate that
you may want an instant motor trade insurance quote online however in
most cases we have to contact our motor trade insurance providers to
obtain a quote and in some cases submit a motor trade insurance proposal
form for consideration.
So the above links to our motor trade insurance pages
are a compromise. If you want full, professional motor trade insurance
advice then you should really contact us on 01388 607105 where we can
take full details of your motor trade insurance business and provide a
motor trade insurance premium.
More about our instant online motor trade insurance.
The below is information on our online motor trade
insurance road risks quotation system. We can quote in many cases if
your needs or circumstances differ from those below.
Definitions
- Full time motor trade: Your sole source of
income is through the motor trade business for which you are
requesting an on-line quotation.
- Part time motor trade: You are employed
elsewhere. This means that your income is paid through the PAYE
system and your employer pays additional National Insurance. You
must not own/ operate another business or be self-employed outside
the trade.
- If you meet these qualifications our motor trade
insurance policy may be right for you.
Driving Restrictions
- Full time: We can quote on-line for up to 4 drivers and can also
include use for up to 2 spouses for pleasure or business use. Additional
drivers must be between 21 and 69.
- Part time: We cover yourself, your spouse
and one employee. The employee must be between 25 and 69, your
spouse (inc common law) between 21 and 69
- All drivers must hold a full driving license for
one year.
- Drivers may have had claims or convictions. We
quote on-line for some of these and we offer reduced rates if all
incidents are over two years old or the convictions over three on
your motor trade insurance quote.
Covers Available
- Comprehensive - £250.00 excess for theft and
damage
- Comprehensive - £500.00 excess for theft and
damage
- Comprehensive - £750.00 excess for theft and
damage
- Comprehensive - £1,000 excess for theft and
damage
- Third, party, fire and theft - £250 Fire/ theft
excess - not available in some locations
- Third Party Only
- Option to include demonstration cover
- Please note that the benefits on a motor trade
insurance policy do not match those of a normal private car
policy.
High Performance Vehicles
The insurance company do NOT want customers who are
insuring high-performance vehicles for pleasure use through a motor
trade insurance policy. Here
is a list of vehicles they would prefer are insured separately.
Premises cover
Unlike some policies our motor
trade insurance policy will provide insurance
for vehicles at home even if you do operate from home. We
can also offer insurance limits from £7,500 to £20,000
per vehicle on our Comprehensive policy if you are full time or £10,000
if you are part time. (The sum insured f should be based on trade prices
of your vehicles).
If you operate from premises and require additional
cover for your business we can quote you for a combined policy. We cannot, however provide such a quote online but
would be only too pleased to do so if you contact us.
A summary of one motor trade insurance risks (including liability,
stock) is available here.
Not buying and selling?
If you are in a similar occupation e.g. valet, panel
beater, mechanic, motor engineer, tuner, servicer,
repairer, breakdown/ accident recovery operators and require motor
trade insurance we have
a similar policy which is restricted to your own vehicle(s)
and allows you to drive other vehicles for up-keep,
service or repair. Please ask for our motorserv product.
If you obtain a quotation from the computer and it is
not competitive or you do not qualify for it, please e-mail
us (enquiries@portwood.co.uk) and we can use our expertise
to obtain a fresh quotation.
Liability
You should always have cover for your public and
employers liability. We are able to offer quotations for your cover,
if you contact us, with a special scheme - Click
Here for more details.
Duty of disclosure
May we remind you that you have a duty of disclosure
of all material facts when applying for any policy, at renewal or when
they change. Examples of material facts for motor trade insurance would
be: Non-motor convictions, specialisms in unusual vehicles - American,
Vintage, Veteran Grey Imports etc. If you are doubt whether a fact is
material it should be disclosed as failure to do so could affect your
policy should you need to claim.
The Next Step.
Our
motor trade insurance quotation page.
Home Page for more insurance UK
residents may want
Motor trade insurance - return to
main selection menu
About us.
B. Portwood & Co Ltd are a firm of UK
insurance brokers authorised and regulated
by the Financial Services Authority for arranging and administering
non-investment insurance contracts. You may check details of our
regulation at their website.
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