If you are involved in buying, selling, repairing, or working with cars in any capacity, you will require a suitable traders insurance policy.
Various motor trade businesses, including car dealers, valeting or car detailing businesses, breakdown and recovery firms, scrap dealers, car restoration businesses and car parking or car jockey services (such as those found at airports), would all benefit from having the protection of a good trade insurance policy.
If you’re self-employed, you’ll probably need traders insurance, depending on the type of work you do. If you work with vehicles, including buying, selling, repairing, or servicing them, it is highly likely that you will require some form of motor trade insurance to protect yourself and your business.
The specific type of motor trade insurance you require will depend on the nature of your business and the level of risk involved. For example, if you work from a fixed location and only deal with customers on your premises, you may need liability insurance and property cover to protect your business and your customers. If you also test drive vehicles or drive them on public roads, you will need road risks coverage as well.
It’s important to note that standard car insurance is not sufficient for self-employed individuals in the car trade industry. This is because it typically does not provide any protection for commercial use or business activities. As a result, you need a specialised motor trade insurance policy to ensure you have the right level of cover for your business activity.
If you work in the motor trade industry as a self-employed individual, you should speak to an insurance broker to determine what type of cover you require. This way, you can ensure you have adequate protection for your business.