What is Combined Motor Trade Insurance?
Combined motor trade insurance is a type of insurance policy designed specifically for businesses in the motor trade industry. It combines different types of insurance coverages into one package, providing protection for a wide range of risks that motor trade businesses face.
Combined motor trade insurance is tailored to meet the specific needs of motor trade businesses, and the level of cover required will vary depending on the nature and size of the business. It is important to assess the risks faced by your business carefully and choose a policy that provides adequate protection.
How our process works
We’ve worked hard to refine our process and keep it as quick, easy and simple as possible for our customers.
What Does Combined Motor Trade Insurance Cover?
The specific cover included in a combined motor trade insurance policy can vary depending on the insurer and the policy, but here are some of the typical areas that may be included:
What Is The Difference Between Combined Motor Trade Insurance And Road Risk Insurance?
Combined motor trade insurance and road risk insurance are both types of insurance policies that are designed for businesses in the motor trade industry in the UK, but they provide different types of cover.
Road risk insurance is a type of motor trade insurance that provides cover for businesses that have vehicles in their possession or control. It is designed to cover the risks associated with driving or moving vehicles, and it is often purchased by businesses that do not have a fixed business premises, such as mobile mechanics or traders who buy and sell vehicles from home.
Combined motor trade insurance, on the other hand, is a more comprehensive type of insurance policy that combines a range of different covers into one policy. It typically includes cover for road risk, liability, premises, and stock, as well as other optional coverages such as business interruption, engineering, and legal expenses.
Who Needs Combined Motor Trade Insurance In The UK?
In the UK, any business that is involved in the buying, selling, or repairing of vehicles needs motor trade insurance. Combined motor trade insurance is specifically designed for businesses in the motor trade industry and offers a comprehensive level of cover to protect against a wide range of risks.
- Car dealerships: This includes businesses that buy and sell new or used cars.
- Mechanics and garages: This includes businesses that repair and service vehicles.
- MOT testing centres: This includes businesses that perform MOT tests on vehicles.
- Car valeters: This includes businesses that clean and detail vehicles.
- Vehicle recovery companies: This includes businesses that tow and recover vehicles.
- Car import/export businesses: This includes businesses that import or export vehicles.
The specific level of cover required will vary depending on the nature and size of the business. However, any business involved in the motor trade industry should have some form of motor trade insurance in place to protect against the risks they face.
How Much Does Combined Motor Trade Insurance Cost?
The cost of combined motor trade insurance can vary widely depending on a number of factors. These can include:
- The size of your motor trade business: The more employees you have and the larger your business is, the higher the cost of your policy may be.
- The type of vehicles covered: The cost of your policy may be affected by the type of vehicles covered, such as high-value or high-performance cars.
- The level of cover required: The higher the level of cover required the more expensive the policy is likely to be.
- Your claims history: If you have a history of making claims, your policy may be more expensive.
- Your garages location: The cost of your policy may be influenced by your location and the crime rates in your area.
- Your experience: The more experience you have in the motor trade industry, the lower the cost of your policy may be.
As with any type of insurance, it’s important to compare quotes from multiple insurers to find the best value policy for your business. It’s a good idea to speak to an insurance broker who can help you find the right level of cover at the right price.
