Combined Motor Trade Insurance

Traders combined insurance brings multiple motor trade covers into one policy. It is designed for traders working from business premises, rather than home.

As the name suggests, you can combine different insurances to suit your needs. Combined insurance is the ultimate cover for motor traders, providing insurance for everything from road risks to business premises, tools, equipment, and employees.

What does a combined motor trade policy cover?

Motor trade combined insurance allows you to pick the covers needed for your business, including:

• Road risks cover
  • The most basic level of insurance required for motor traders by law. You need road risks cover to drive vehicles in connection with your motor trade business. For example, customer vehicles left with you for repairs or sale. You can get cover on a third-party, third-party fire and theft, or comprehensive basis. Add demonstration cover if you want to offer customers test drives.
• Business premises cover
  • Insurance for the structure of your buildings. This cover can be taken whether you own or lease your premises. If you are leasing, check with your landlord whether they have insurance and on what basis. Protecting your buildings means you can keep trading if the worst happens.
• Tools and equipment
  • Motor traders have specialist diagnostics and repair tools. You may also have other equipment, such as ramps, lifting tables, paint spray booths, etc. You can include cover for these through traders combined insurance, as well as portable hand tools.
• Employers’ liability cover
  • A legal requirement for any business with employees. This policy protects against claims of alleged injuries or damage to employee property, covering both legal and settlement costs.
• Public liability cover
  • This insurance offers the same type of protection as employers’ liability cover, only against claims from members of the public. Like employers’ liability cover, up to £10m of cover is available (or more with some insurers).
• Stock of vehicles
  • To provide cover for vehicles on your business premises overnight, up to an agreed limit.
• Money cover
  • If you handle money on-site, then you can get cover against theft.
• Service and sales indemnity
  • Protection against claims of injury or accidental damage following fitting of parts or vehicle sales.
• Business interruption cover
  • Insurance that comes into effect if you cannot access your premises due to fire, natural disasters, flooding, or other specified perils.
• Loss of MOT licence
  • For garages operating an MOT service, you can get specialist insurance covering a loss of license (subject to conditions).
• Directors’ and officers’ insurance
  • When claims are made against you rather than your business, D&O cover offer supports.
• Engineering inspection cover
  • Provides qualified safety assessment of equipment needed to carry out your job.

There are lots of other covers available. Speak to our team today, and we’ll help you find the best motor trade insurance for your business.

Who needs motor trade combined insurance?

Any motor trade business with premises should consider traders combined insurance. You only need to think about the cost of replacing vehicles, tools, and equipment, not to mention the repercussions of an injury claim, to realise how valuable this cover is.

For these reasons, motor trade combined cover can be purchased by:

• Service and repair garages
• MOT stations
• New and used car sales
• Dealerships
• Recovery operators
• Body shops
• Classic car restoration
• Auto electricians
• Any other motor trade business with stock or premises

If you upgrade your motor trade business and move into business premises, read our guide for motor traders moving from home-based to garage.

How much does combined traders’ insurance cost?

Every motor trade business is different. While road risks cover can start from £8.73 a week*, there are lots of factors that can affect the cost of traders combined cover:

• The type of road risks policy required (third-party, third-party fire and theft, or comprehensive cover). You should factor in the cost of accompanied or unaccompanied demonstration cover and any excess. Find out more about road risks cover.
• Where your business is located.
• The rebuild cost of your business premises, and the construction and size of the premises.
• The number of staff you employ, their driving experience, and any previous claims or motoring convictions they have.
• The value of the stock you have on-site.
• The value of tools and equipment you need to cover.
• Which insurance products you require.

As your business is unique, each quote is designed to cover your needs. These are just a handful of the factors that could affect your motor trade combined quote. Call us on 01625 365190 for a personalised quotation, or provide us with details of your business to request a quote online.