Before you find the most appropriate insurance for your business, you should take a long hard look at your business and conduct a thorough review so that you do not miss anything.
If you plan to make any changes in the near future, consider whether they will have an impact on your insurance. Make sure that you understand what is required in terms of insurance for your business to be operating within the law.
If you have any questions or are unsure of anything, check it. You need to be upfront about your claims history in full, and also where vehicles are stored; because if you are not then you run the risk of your policy being cancelled, this will leave you without over and may make it difficult for you to get any cover from an alternative provider.
If you only operate your business as a part-time concern, then you need a policy that accommodates that — there are specific policies for part-time traders. If you get regular Motor Trade cover but do not actually qualify for it, then you will likely have any ongoing claims rejected, and the insurance cancelled. You will probably be offered a number of additional products to go with your cover. Do not reject them out of hand. Give some careful consideration to what value, if any, they might add to your policy in terms of the cover that they afford you.
The cover that you are looking for is the one that is most appropriate for your business, and what is right for another company in the same industry may not be the right one for you. There are policies that cost less but that may not offer you everything that you need and policies that will offer you everything you could possibly need, and some things you might not need.
There will also be the one that is right for you. The cheapest policy may not offer you enough cover or the right sort of cover, so be sure to check all the details. Insurance can be confusing, and there are so many variables that it is well worth considering speaking to a company who are specialist motor trade insurance providers. They will be able to find the right type of policy for you, one that will cover all aspects of your business including offering you the most appropriate indemnity covers.
For a number of motor traders, it is necessary to update the Motor Insurance Database MID on a regular basis, this is due to the number of vehicles that are owned and used. Hopefully now you should have a good idea of how to find the right insurance policy for your specific motor trade needs.
Make sure you take into account the advice above when comparing providers, and you should be on track to find a policy that works best for you. To get quotes from specialist motor trade insurance cover providers now simply click the green button below. It depends on the insurer what you need to do to ensure all the vehicles you need are listed on your motor trade insurance policy — and therefore, on the MID.
Your existing insurer may require a full list of vehicles when you renew your policy. If you are moving to a new insurer, you must supply them with a full list of vehicles for the MID. They will advise on how this information should be given, and will provide you with further details on how to update the MID in future on your new motor trade policy.
Visit www. If you have a motor related claim, please see below for our most frequently asked questions. Making a motor claim: How do I report a new claim? By calling our Motor Claims team on To ensure that your claim is dealt with as effectively and efficiently as possible, it is important to report your claim as soon after the accident as possible, and within 48 hours of the incident.
Depending on your choice from the options available to you, either your Insurer or our approved repairer will recover your vehicle. This will be either to an approved repairer or a place of free storage, depending on the amount of damage caused to your vehicle. Whoever appoints the repairer i.
Yes, you can use your own repairer. However, by using the Insurer or our repairer, the claims repairs are authorised and carried out quicker.
Our Motor Claims team and the Insurers have access to dealer-approved repairers. All repairs are generally guaranteed for 5 years. We understand how important it is for your vehicle to be kept on the road. Each claim is different, and once the repair estimate has been authorised by your insurer, the repairer will be in contact with you within 24 hours to arrange repairs. Our dedicated team liaise direct with the approved repairers and insurers to ensure no unnecessary delays occur.
Repairs are subject to the parts being available and the garage being able to book your vehicle in. We will endeavour to provide a like-for-like replacement vehicle. We will discuss with you your specific requirements and your replacement vehicle entitlement. You would be expected to pay the garage in full for the repairs if you are claiming via your insurer.
Where the incident is not your fault and there is a third party from which to recover your costs from, we will assist you to do so providing you have purchased our Motor Legal Protection cover. Not if you are claiming via the Third Party insurer. If you are claiming via your comprehensive insurance policy you would pay the excess and we would then fully recover this cost for you. Yes, this is known as claiming via the Third Party. Where you are at fault for an incident, your no claims bonus will be affected unless you have purchased Protected No Claims Discount.
Where you are not at fault and there is a third party to recover your claims costs from, then your no claims discount will be unaffected. Where you are comprehensively insured, your Insurer will reduce your no claims discount until they have recovered their costs.
Once your insurers have been provided with sufficient evidence that the third party insurers have accepted their insured is at fault they will close their file and your no claims discount will not be affected. They will then negotiate with Insurers on your behalf to reach an amicable settlement. Our approved repairers comply with PAS which is the industry agreed technical specification of vehicle body repair.
It provides body-shops with the processes and procedures directly related to the safe repair of accident damaged vehicles. The repairs are guaranteed for 5 years but if a repair is substandard, we will always look to assist you and rectify the repairs with the repairer.
If the repairs have been instructed from your own insurer, then we would report your concerns to your Insurer for them to investigate with their repairer. Yes, our Motor Claims team are here to assist you by providing you with a service to ensure you receive recompense for what you are legally entitled to.
When you enter into a contract with an Insurer, this is a policy condition which assists the Insurer in recovering any costs where there is a known third party who is responsible for the incident. In essence, the Insurer stands in the place of you to recover their outlay in respect of a claim made against the Insurance policy. We will do this when you have purchased our Motor Legal Protection policy, which means we have the right to pursue the Third Party for damages on your behalf.
Following an accident, you may receive calls from other companies offering vehicle hire and repair services. Our Motor Claims team works in association with Action Assistance and we will always keep you informed of any authorised companies that will contact you and when. They specialise in road traffic accident compensation recovery and they will discuss your entitlement with you on an individual basis, in order provide you with the relevant assistance.
Getting Part Time Motor Trade Insurance In many cases, insurance companies see part-time traders as a higher risk than full time. What Is An Insurance Broker? Levels Of Indemnity — Getting The Correct Cover What are the best levels of cover for my motor trade business and what are the repercussions of not having the correct cover? Common Fraud — Ghost Broking At Gallagher, we deal with fraud every day, and have sophisticated detection methods. Types Of Insurance Available Gallagher offers a full range of policies to suit all aspects of the motor trade.
What is the difference between a motor trader policy and other types of insurance? Any vehicles covered by a motor trade policy that are also used by your employees in a private capacity can be covered as well - however it is important to make sure that this condition is not excluded. Motor Trade Insurance provides cover for businesses in the motor trade that handle, buy or sell vehicles.
Motor trade fleet insurance , on the other hand, provides cover for anything ranging from a couple of cars to a large fleet of vehicles. This type of insurance is quite flexible and its terms depend on the number of cars you would like to insure.
It can cover your vehicles and contents. By purchasing a Combined policy, you can include your premises as well. Get a Quote for Motor Trade Insurance If you can't see your business requirement listed above, give us a call and discuss your requirements with one of our operators. Choose Insurance Factory for Motor Trade Insurance For more information or if you can't see your business requirement listed above, please give us a call and discuss your requiremetns with one of our operators.
What is anti-social use of a vehicle? That cover may extend to just the business owner, certain members of the team or everyone who works for the business. Every motor trader, regardless of their line of work, must have a motor trader insurance policy. However, by law, they only need to choose a policy that allows them to conduct their business at a minimum level of risk.
Motor trade insurance policies generally provide three different types of cover:. This is the most basic level of cover available. Third-party fire and theft and comprehensive road risk insurance are also available. This type of policy is designed specifically for motor traders who employ people, have customers in their premises or repair, supply and service cars. There are three different types of liability motor trade insurance available.
This is an extensive policy that provides cover against all the risks motor traders may face.
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