Tips on What Your Motor Trade Insurance Should Cover

Anyone who is opening a business in the motor industry whether on a full or part time basis should have adequate motor trade insurance cover. The motor industry is a risky business which requires you driving customer vehicles, keeping vehicles on your premises overnight and working with specialised equipment on a daily basis.

All policies should cover the building that you work from, this includes fire, theft and storm damage. The premises where you keep your workshop or car dealership whether it's a city building, set on the outskirts of town or your home garage, should be covered in the event of damage.

Without your premises you are unable to run your daily operations, so it's essential that building cover is automatically included in the motor trade insurance cover.

In the event you are looking at opening a mechanical workshop, or you already have an operational workshop, then you and your staff will be working with a range of tools and specialised equipment every day. Your tools are your livelihood, which is why these along with any expensive diagnostic equipment should be covered against damage or theft.

Again, without your tools you are unable to carry out the jobs and your business will lose money.

There isn't a single business within the UK that can operate without adequate liability insurance. Public liability cover is one of the most important covers you will want to include in your motor trade insurance cover. Public liability protects you every time a person's comes to your property.

With the motor industry being a dangerous place, all it takes is some oil left on the floor for a customer to slip and fall, injuring themselves. This can result in a claim against you which can amount to thousands. It's very difficult to put an exact price to a public liability claim as it can include loss of income, medical expenses and even mental distress caused by the accident.

What many traders don't realise is that they are legally responsible for the claim. Without adequate public liability cover, assets can be seized to offset the balance.

With your building, tools and visitors covered under your motor trade insurance cover, you will now need to pay attention to your staff members. Employer's liability cover is a legal requirement in the UK the minute you hire one or more staff members.

Employer's liability cover protects you in the event one of your staff members injure themselves while at work. Working with machinery and tools on a daily basis can lead to accidents, so it's essential this cover is in place. There is only one exception to this cover and that is if you are a part time trader and a family members helps you out from time to time, otherwise you must have this cover in place at all times.

For anyone who runs a car dealership, in order to finalise a sale, you'll find your customers will want to try the vehicle before making a decision. Being unable to offer this service can result in you losing the sale.
Demonstration cover enables customers to drive the vehicles you have on your shop floor in order to make a decision on whether the vehicle is the right choice for them.

Road risks on the other hand, is a must for any motor trader and must be included in your motor trade insurance cover. Road risks gives you the ability to drive customer vehicles in order to test drive them, whether you're checking to ensure work has been carried out correctly or you want to test the vehicle before buying it and adding it to your shop floor for sale to the public.

Motor trade insurance cover is designed to protect every aspect of the business and with a host of additional covers to include, you can enjoy peace of mind that your company is protected every time you open the doors.

Evans and Lewis is a specialised insurance company that deals with the motor industry. Combined with twenty four years' experience in the industry, the directors saw a need for value for money motor trade insurance in the UK. Evans and Lewis offer no fuss insurance policies covering everything from road risks to track and vans to fleet cover and under 25 cover. The policies available ensure that the business is protected whether it's a full or part time business. They cover all motor trade companies from workshops to dealerships and restoration companies to tyre companies and more.

Article Source: http://EzineArticles.com/8029873

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How to Find the Best Motor Trade Insurance Deals

All businesses throughout the country are looking for ways to reduce their overheads. Lowering expenses means higher profit margins, so it's important for company owners to search and find the best motor trade insurance deals that offer the best level of cover at the lowest possible premium.

Whether you're in the process of starting your own motor trade business or you're looking to find a new policy, it's advisable to get some quotes before making any decisions.
There are a number of insurance companies offering insurance to motor traders, ideally you want an insurance company that specialises in your industry, which will understand your company requirements and assist you in finding the best level of cover to keep your company protected on a daily basis.

It's always a good idea to get a minimum of three quotes. Get the quotes in writing. This way you can sit down and read through each one to determine if you are getting the best possible deal.

The best way to achieve this is before looking for good motor trade insurance deals you should conclude a thorough risk assessment of your business. This gives you a guide to work with when determining which of the quotes is the right one for your business.

The internet is one place where you can obtain quotes, another option is to speak to other traders in your area and see who they use for their insurance needs. With your three or more quotes in hand you can start reviewing the quotes.

Be aware, when you obtain quotes online, sometimes you are only offered the bare minimum when it comes to public liability cover. Another thing you find when obtaining quotes through comparison sites, is that you are only offered third party cover for driving customer vehicles, which as you know is not enough.

You need to review each quote thoroughly, comparing it to your risk assessment. Contact the insurance companies that offered the motor trade insurance deals and amend the quotes to meet your immediate requirements, this may be increasing the public liability amount or changing the road risks to fully comprehensive.

Once you have made the amendments you can compare the quotes to the others, comparing the quotes lets you see what each company is offering in terms of insurance. You may find some companies will offer less for more, while others will offer a host of additional covers, which will be beneficial in the long run, such as loss of income cover.

It's very important that you remember that the cheapest quote may not be the right choice for your business. You want the best level of cover to protect your business on a daily basis.

Once you get to one quote in your hand that seems to tick all the boxes, you'll want to ensure the company is reputable and reliable with a quick and hassle free claims process. Finding motor trade insurance deals is easy, but you need to read through customer reviews to ensure that the company does what they say they do.

The best place to find information on the company offering the best motor trade insurance deals is on the internet. Read through forums, speak to other traders and when you're completely comfortable that they do what they say on the tin, then you can make your final decision.

Remember that you want complete coverage for your business when obtaining motor trade insurance deals, this should include your building, tools, liability cover, road risks, demonstration cover if you need it and then any extra cover such as loss of income or cash protection.

Having gone through the process and coming out with one quote that stands out from the rest, you can sign on the dotted line and enjoy the fact that your company now has the protection it needs to operate safely without added risk.

Evans and Lewis is a specialised insurance company that deals with the motor industry. Combined with twenty four years' experience in the industry, the directors saw a need for value for money motor trade insurance in the UK. Evans and Lewis offer no fuss insurance policies covering everything from road risks to track and vans to fleet cover and under 25 cover. The policies available ensure that the business is protected whether it's a full or part time business. They cover all motor trade companies from workshops to dealerships and restoration companies to tyre companies and more.

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