Working in the motor trade means you need to have road risk insurance for any vehicles you’ll be handling. Click the green button to get your quotes now.
- All Types of Cover Available
- Cover for All Types of Vehicles
- Cover for Your & Your Staff
- Breakdown Assistance
- Full Documentation Available Instantly
What is Road Risk Insurance?
Road risks are one of the most fundamental things you have to protect against when you work in the motor trade. Handling customer vehicles often means transporting them from A to B and therefore you need to be able to drive them legally. Below are the types of motor trade road risk insurance you can get as well as some of the biggest benefits of getting cover online.
You need to have road risk insurance at a minimum in order for your motor trade business to operate legally
Types of Motor Trade Insurance Cover
- Third party - Third party insurance is the minimum level of cover you can get in order to be able to drive a vehicle legally. It is designed to protect other road users in case there’s a collision where you (or a member of your staff) are liable. This is the cheapest option available but also provides minimal protection.
- Third party, fire & theft - If you want to add extra cover to a third party policy then this is a great option. In addition to providing third party cover, any vehicles in your possession will also be covered for fire damage and theft.
- Comprehensive - A comprehensive policy will cover you for all types of accidents, even those that you or your employees are liable for. This cover costs more than third party but it will allow you to run your business with full peace of mind.
- Combined policy - A combined policy provides a way to not only cover the vehicles that your business handles but also your premises, cash and assets too. It’s a much more convenient option than getting separate policies for each part of you business.
Why Get Traders Insurance Cover Online?
Below are some of the biggest benefits of getting road risk insurance online –
- Save time - One of the biggest benefits of getting road risk insurance online is that allows you to save time when getting quotes. If you run a motor trade business then you’re likely a very busy person who doesn’t want to spent a long time calling different insurance providers in order to get the best price for a policy.
- Save money - Another big benefit of getting road risk insurance online is that you could potentially save a lot of money. Since getting quotes is so easy, you will be able to compare them next to each other and choose the policy that is the best fit for your business.
- Flexible payment options - You can choose to pay for your policy monthly via direct debit or credit card. If you prefer then you can make a one-off payment at the start of the policy to cover the entire year. This can also help you to save money.
- Get expert advice on the best type of policy for your business - If you’re not entirely certain what the best type of cover to get is then you can get advice on what the right type of policy to get is depending on your business.
Getting quotes from many providers is one of the best ways to save money on road risk insurance.
Ways to Save Money on Road Risk Insurance
Below are some excellent ways you can save money on road risk insurance –
- Pay for your policy annually - Of the ways there are to save money on road risk insurance, many people don’t consider paying annually for the policy rather than monthly. It’s understandable since most business owners want to reduce outgoings as much as possible. However if you can pay for your policy upfront, then you’ll be able to make a very decent saving with most insurance providers for doing so.
- Make your premises secure - Another way to lower the cost of a road risk insurance policy is to make your premises secure. This is particularly important if you have a combined policy and run a business where there are a lot of cars kept on the premises, such as a car showroom or auction house.
- Hire good staff - Hiring good staff is always important if you want to keep the cost of your policy down. Good staff to hire who those who are over the age of 25, have a good amount of experience and do not have any driving or criminal convictions.
- Get a lot of quotes - A ways to save money that’s very easy to do nowadays is getting a lot of quotes. Prior to the internet, getting a lot of quotes would’ve meant calling different insurance providers one-by-one on the phone or using an insurance broker. Thankfully things are much simpler now and getting quotes from different insurance providers is a breeze.
Road Risk Insurance FAQ
What is road risk insurance?
Road risk insurance is a type of motor trade insurance that will provide you with enough cover to work on/transport customer vehicles. You can choose exactly what level of cover you want to get from third party; third party, fire and theft; and fully comprehensive.
How much will a road risk insurance policy cost?
The cost of road risk insurance will vary depending on the type of business you’re getting cover for and how likely insurance providers think you’ll be to make a claim. Some major factors that affect the cost of road risk insurance are –
- Your age - Age is always a factor that insurance providers take into account, particularly when you have a motor trade business. If you’re under the age of 25 then you can expect to pay more compared to someone who’s older. However a good way to save money if you’re a younger person operating a motor trade business is to seek out an under 25 motor trade insurance policy from a specialist provider.
- Type of business - The type of business you run will affect the cost of your policy too. Motor trade businesses can vary quite a bit. There are garages, MOT workshops, car showrooms, mobile mechanics, vehicle importers etc. Each of these types of businesses come with their own unique risks and insurance providers will certainly take this into account.
- Your employees - The employees you have will affect how much you pay for cover since they will be considered a risk factor by insurance providers. The best employees to hire from an insurance perspective therefore are those who are over 30, have a good amount of experience in the industry you operate in and who don’t have any convictions.
- Level of cover - The level of cover you take out will have an impact on how much your policy costs too.
What other types of cover do I need?
Road risk cover is the minimum level of insurance you need to take out in order to operate a motor trade business legally. However it’s not the only type of cover you’ll need.
Some other important types of motor trader insurance to consider are –
- Public liability - When you work with the public it’s important to think about the risk of a liability claim being filed against you. Even if you’re a responsible person who runs your business well, there’s always the risk that an incident could occur that leads to a liability claim. To make sure you’re protected in such a scenario it’s certainly worth considering public liability insurance.
- Employers’ liability - If you have employees, whether part time or full time, then you’re obligated to get employers’ liability insurance included in your policy.
- Legal expenses - Fighting a liability claim in court can be very costly and time-consuming. To help with the financial side of things, you can have legal expenses included in your policy for both public and employers’ liability insurance.
What if I have a conviction?
If you have a conviction and want to get a road risk insurance policy then you can get a convicted drivers motor trade insurance policy. You might have to pay more for cover but your unique circumstances will be taken into account.
You can also get cover for your premises, tools, stock and cash by taking out a combined motor trade insurance policy.
Get Quotes from Specialist Motor Trade Cover Providers now
If you want to get motor trade road risks insurance quotes easily then you’re in the right place. The panel of insurers provide road risk insurance for motor trade businesses of all sizes so you can be sure that you’ll find a quote that meets the needs of your business. Simply click the green button below to get your quotes now.