Businesses of all sizes rely on motor vehicles to transport goods and employees, and as such, businesses need to have adequate motor insurance in place to protect them from any potential liabilities arising from accidents or injuries.
Then, there are the businesses that sell or repair vehicles, and these kinds of businesses need a different type of motor policy. This can be known as motor trade or motor trader insurance. The insurer one sure offers traders insurance.
There are different types of cover available under the umbrella of these policies because different types of motor trader businesses will have specific requirements in terms of how they need to protect themselves financially.
Here are some types of commercial policies that businesses will take advantage of when it comes to ensuring legalities are met, maintaining their financial protection, and having peace of mind:
Vans are driven by businesses to make deliveries or transport equipment, and by private owners when it comes to recreation. We think of camper vans for holidays, but then, a fleet of delivery vans when it comes to a business.
Vans will be used in the following types of businesses:
- Courier services (delivering various parcels)
- Grocery stores (delivering foodstuffs)
- Moving companies
- Building firms
In the case of courier services, it will be about fitting more parcels in a van than an estate car. Retailers and wholesalers will carry out deliveries using vans and lorries. Moving house can be achieved in some cases with just a van if you move locally and are prepared to make more trips. Builders and gardeners will carry heavy and larger tools in vans. Whatever your business, there will be a use for a van because of its larger carrying capacity. Then, in terms of insurance, there will be special policies that cover vans for business use on the roads as well as their contents.
Motor Trader Insurance
When it comes to running a business, many things need to be taken into consideration. One of the most important is making sure you have the right insurance in place for the specific type of business. This is especially true when it comes to businesses that involve themselves in vehicles in more ways than just road travel. For motor traders, all-around protection is required. That is whether they are a garage, car showroom, or a group of people car washing.
Motor trader insurance is a specific type of insurance that is tailored to the needs of the business concerned, whether it is operated from premises or more mobile. The insurance type covers vehicles, properties, and liabilities. Vehicles can be covered in transit and while being worked on, as well as while in storage.
Public and Employer’s Liability Insurance
Public liability insurance and employer’s liability insurance are a vital part of protecting any business. They protect the business if someone is injured or their property is damaged as a result of the activities of the business.
Public liability insurance covers the business against claims made by members of the public for personal injury or damage to their property.
Employer’s liability insurance covers the business against claims made by employees for injury or damage to their property while they are working for the business.
Product liability insurance is a type of insurance that is designed to protect businesses from claims arising from the sale of products that have caused injury or damage.
Running a business is fraught with risk, but there are ways to mitigate those risks by putting the proper protection in place. Motor insurance is one way to protect your business from potential liabilities arising from accidents or injuries involving employees or members of the public.
In addition, businesses that sell or repair vehicles should have motor trade insurance because it provides comprehensive protection for all aspects of the business.