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If you are not certain whether or not you need some sort of insurance, and whether or not motor trade insurance is for you, or what it actually is, you have definitely come to the right place. Today we will discuss main aspects of motor trade insurance, and as someone who runs a business with cars themselves, you can take my word that I will try to make it as brief and as informative as possible.
First of all, we should probably start from the very term motor trade insurance and explain what it refers to. Motor trade insurance, which is also sometimes referred to as road risk insurance is an insurance which is taken by someone who runs a business which involves cars, motorbikes or vans. In particular it is intended for businessmen who rent, repair, service, vale vehicles or run a garage.
Many business owners are preoccupied with size and would like to know whether it really matters. While I cannot claim with certainly that size doesn’t matter in general, in this case, the size of your business or your company, will surely not affect your chances of getting the insurance and you may be certain that it will certainly not play a role in it.
Well, another thing you may want to know is what the motor trade insurance is actually for. Being a car dealer is certainly not easy, as you will be faced with many unpleasant situations. In order to make things a little bit easier on you, there is the road risk insurance that you should probably take. This will allow you to ensure both your company and your customers from an accident whether there was a third party involved, whether there was a fire theft, damage, loss, or even accidental damage. This is how you can still ensure that even though your car suffered a significant damage, your company doesn’t suffer an unmanageable loss.
Then there is liability insurance that can further focus on employer’s liability, product liability or public liability, basically it is whether you deal with any unfortunate series of events, whether they involve an employer’s death, or injury, a damage that happens to a vehicle during a test drive, or whether a customer gets unexpectedly hurt in your store, respectively. You can also choose the combined insurance, that covers all the mentioned liabilities and allow you to not suffer financial losses as a result of the damages that might happen with your plant, machinery, tools, premises, fixtures, fittings, vehicles, employees, customers, personal possessions, theft, and business interruption and so on.
Well, making the decision to get a motor trade insurance is certainly something you will have to do on your own, or on the behalf of the company, however I would say that it is a wise thing to do, as it will make sure you do not suffer financial losses in cases something unexpected happens and it just may help you sleep at ease at night.