Traders Insurance Frequently Asked Questions

What is traders insurance?

A motor trader's insurance policy is a document that covers all insurance, liabilities and indemnities in the event a claim is made against you. It's a complete insurance package for the motor trade which will protect your business, employees, the work carried out, the vehicles under your control and any premises you may own or rent. It is so inclusive that pretty much any motor business related activity can see terms custom built to include the highest amount of cover for every situation imaginable.

It is a specific trader's policy for those who buy, sell or maintain other people's vehicles. As well being able to monitor and maintain your own fleet of vehicles and with full driver no claims bonus benefits. Whether you transport goods or luxury vehicles, repair vehicles on site or at your home. Part time hobbyists that work on antique cars or buy and sell vehicles online as an additional job can also receive cover. The range of cover and sums values to be insured are really quite varied and tailored to your unique motor trade model. It will include full 24 hour support and access to a full legal team to act as prosecution or defence.


How do I get motor trade insurance?

Your motor trade business or vehicle related hobby / past time can be covered by the most relevant motor trade insurance policy in an instant. After proving you are an active buyer, seller or maintain vehicles, you will be able to proceed with accepting our motor trade insurance offer. You no longer need to search yourself to discover the best or cheapest premiums on the market. By completing our short enquiry form, a broker will work on your behalf to secure the best deal. Comparing motor trader deals  by checking a  variety of databases.

After receiving your details and request, we will call you back at the earliest opportunity. Ask for  any relevant details regarding your application and further assist in driving down your monthly insurance premiums. We do this  by asking a range of questions that discover if you have multiple business addresses. Have separate buildings insurance and could save from a combined motor trader policy. Check the correct grade of goods in transit cover and begin to remove all previous policies that you will never need. After which we talk to the UK's top insurance underwriters to get the  best offer for your trading activity. You only need make contact with us.


How much does motor trade insurance cost?

The cost of a motor trader's insurance premium is a per business or owner driver calculation. No two are the same. It is not an off the shelf insurance package and is tailored to your own needs by a specialist broker. With years of knowledge in all manner of niche motor trade businesses, all policy details are custom built and included with your business needs in mind. A broker will immediately begin to build your document once your details are received. We are able to break down each policy particular so that you receive the cheapest but most inclusive motor trade quote possible.

This is achieved by removing EU breakdown recovery if not required. Ensuring you obtain the correct class of goods in transit insurance and making the most of collective no claims bonuses from all of your current drivers. With the ability to update all policy additions on the fly and access to 24 hour support, you can ensure your policy stays current and the most cheap throughout the term. We will ensure your make the most of combined motor trade insurance should you work from premises and part time activity from working at home can also be cost effective.


What is a traders policy?

A trader's policy is custom built for those operating in the motor trade. No matter how small or large your operation you can benefit from holding a form of motor trader's policy as cover for all insurance purposes. While demanded by law, certain sums valued cover can be offered at lower amounts that don't meet requirements. We go the extra mile to ensure your cover is correct and will keep your business and vehicles on the road. breakdown recovery agents, MOT centres, car showrooms should get the best possible motor trader's policy to cover all their needs.

this might include a combined trader's policy for all road risks and business premises. Indemnity cover for work carried out and parts replacement warranties. Being provided the correct class of goods in transit insurance. Wit a whole wealth of additional employer's insurance, public liability insurance, cover for tools and machinery. Should an accident occur within your building, a vehicle collide with a wall, or an accident happen while out on the road. You will be fully covered with one cheap trader's policy premium. Backed up by 24 hour support and full legal team should it be required and it will.


Who can get a traders insurance policy?

Unsure as to whom can actually get a trader's insurance quote? It's not so silly a question to ask. Not everyone is entitled to receive a traders insurance policy document. By its very nature you may well have to prove business receipts derived from buying, selling, repairing or maintaining vehicles. A family that simply has many cars cannot receive this type of insurance. As the policy details which are built in are for the purpose of driving other people's vehicles, cover for high end tools and machinery and with combined premises insurance too.

A trader's insurance policy is much sought after due to the perks built in, as well as it generally being cheaper when insuring multi type vehicles. While a householder with family cars cannot insure for their own use, it can work the other way round. If you are a motor trader in any niche, you can build in cover for personal vehicles. Receive free access with updates to MID and be able to use trade plates for multiple vehicle ownership. This cover is for MOT centres, owner drivers with heavy goods vehicles and any motor trade related occupation from car valeter to breakdown recovery agent.


Who is the best motor trade insurance broker?

While we are more than happy to be compared against competing motor trade insurance brokers. As well as prices provided directly by direct motor trade insurers. You'll only know the answer to which is the best motor trade insurance broker after you have secured the cheapest motor trade quote through us. Not necessarily the cheapest either, as while other brokers may rush to meet your demands, we don't lower the sums to be valued or leave items in that you don't need. This is a specialist sector that requires our full attention to drive down your motor trade insurance premiums.

Should a claim arise and you are under insured your business is at risk. the best broker will make sure all areas are covered. That indemnity cover is correctly valued for parts and servicing work you carry out. That business premises, employee and employer's insurance is assured in every area. The best motor trade insurance broker will take the time to ask about your niche business. Whether part time, full time or operating a large scale showroom country wide. It's important you choose a broker that has your business interests at heart and not their commission. End your search for the best and contact us today.


Can I get traders insurance working from home?

Many part time motor traders don't realise that they require cover even if they just buy and sell a car once a year. The law requires any one person, owner / driver or business working in the motor trade to obtain a trader's policy. So yes. If you collect and repair antique cars, operate breakdown recovery from your garage or simply valet cars. It is possible to secure your hobby or part time business with a cheap trader's quote today. In fact, we specialise in providing the best part time motor trader quotes for the most niche of small businesses.

You need to understand that your normal home insurance does not cover motor trade business use. The risks and possible accidents are too varied when involving complicated tools and machinery. With different cars and their values. People and their vehicles being on your premises, accidents can occur. This is where public liability insurance and a much higher value, with indemnity cover comes in handy. Without it, your home is at risk and you may be liable to prosecution. Protect your hobby and start up and get a cheaper part time motor trader quote today.


What does traders insurance cost in London?

Motor trade insurance as you well know, is postcode related. You pose an interesting question when asking how much trader's insurance is for the London area. Cities and urban areas are more prone to accidents and the correct all road risks will be ready to be enacted. Knowing your routes and daily activity will allow a broker to build a tailored policy document to the correct sums to be valued. Theft in inner cities can also be high, with tools and equipment covered against fire and theft you will protect your livelihood and that of your employees.

Parking in central London with vehicles stolen to order can also be problematic. We will do our best to advise you park in secure areas overnight and use additional insurer supplied trackers and certified locks.  By doing so we lower your London motor trade insurance premiums. The cost of an annual premium in London is higher because there are simply more risks but no two quotes will be the same. Contact us today for an instant quotation. If with building, combined premises insurance will be essential. If you only operate in London, a cheaper quote could be supplied if you have a low mileage count.


How long does trade insurance last?

While trade licence plates can be held for six or twelve months, the term for motor trade insurance is usually for a period of one year. Though different offers can have benefits over multiple years. For instance you can carry over a no claims bonus and you will be rewarded. On the other hand you can have a protected no claims bonus on a motor trade insurance policy for up to five years with multiple claims made. There are however ways you can manage the annual trader's insurance premiums that lessen the effect of such costs and make payments more easily manageable.

Some of the UK's top insurers will allow you to pay over nine monthly instalments with an initial deposit made. Which falls more into line with contractual income and ability to pay. Or simply allow for twelve monthly payments. By far the cheapest trader's insurance is when paying annually. A discount will be applied if you can pay in advance. However most trader's cannot afford such a large sum up front. So yes, insurance tends to last for a period of one year, though aspects of policies can be removed or added at any time and irregular payments for annual coverage can be arranged.


What is the cheapest type of traders insurance in Birmingham?

It's not really a matter of which is the cheapest type of motor trader's insurance in Birmingham. As each quote is tailored to your specific business, we can't simply supply a car showroom premium to a car valeter working part time from home. It wouldn't be fair. A broker will assess your niche motor trade business and build terms and conditions that cover your exact activity. Being based in and receiving a Birmingham motor trader's insurance policy should bode well however. Aside from services offered and routes taken, different inner city areas and urban outskirts can be at a higher or lesser risk of theft.

You are central to the UK and for a reason. This may mean you could benefit from low mileage discounts. Being a manufacturing hub there is probably plenty of areas to seek out secure parking for your vehicles overnight. Again reducing the costs of motor trade insurance premiums in Birmingham. Access to breakdown recovery could be cheaper, replacement vehicles quicker and all road risks obtained for exact routes. with the assistance of insurer supplied telematics, dashboard cams, lower premiums may be offered to ensure your Midlands motor trade quote is kept at a minimum.