Motor Trade

Motor Trade Insurance FAQs

What vehicles can be covered?

Usually any vehicle owned by the Insured, or registered in insureds name, or stock vehicles for sale can be covered. Also any customer vehicles in the care custody or control of the insured for the purpose of service, repair or testing can be covered. The insured will have to provide an estimate of maximum values on hand at any given time.

Do I Qualify as a Motor Trader?

Before contacting us to get a quote, it's important that you determine whether you're suitable for trade insurance. Many people attempt to take out an insurance policy, only to find out that they do not qualify for one. To be eligible, you need to be considered a genuine motor trader who has a financial investment in the motor trade industry. It does not matter whether you operate on a full-time or part-time basis, as long as you can actively prove that you work in the motor trade industry.

Will I be able to drive any car?

A Motor Trade Policy will allow you to drive your own vehicles and your customer’s vehicles in the course of your work and for Social, Domestic and Pleasure purposes. Despite a very broad cover the policy will have its' limitations and exclusions. Typically excluded vehicles are: High performance vehicles, special type vehicles, large commercial vehicles, modified vehicles, vehicles belonging to your family members, vehicles not registered in the client’s name being driven for private purposes. However your Insurer may cover a non-standard vehicle upon referral.

Can my family members drive under my Motor Trade policy?

Motor trade policies are designated for garage owners and garage employees. Insurers may also provide cover for spouses to be added to the policy for additional charge so they can drive under the policy for Social, Domestic & Pleasure purposes. All cases have to be referred on individual basis as sometimes other factors (i.e. occupation of particular driver) may have an impact on insurer’s decision.

What is the standard max vehicle weight available?

A standard Motor Trade Policy will allow Private and commercial up to GVW 10 tons. Larger weights are possible for Bus, Special Types or Heavy Goods Vehicles motor traders.

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