Motor Trade Insurance Northern Ireland
Motor Trade Insurance Northern Ireland is important if you sell cars, and want to ensure that they are always insured.
After all, if you own a variety of vehicles, then there may be a high risk of theft or of damage to the vehciles, perhaps on test drives. As Motor Trade insurance is a specialist type of insurance, you'll want to ensure that your policy is dealt with by a professional firm, based in NI or the UK. We know that if you run a business in the motor trade industry, that you most likely value your time. But it may not be quick to get insurance, particularly when it’s something as niche as Motor Trade Insurance in Northern Ireland. This can be even more difficult when you are searching for a cheaper insurance policy to meet your requirements.
But using our online comparison system, we can try to make it simple for you to find Motor Trade Insurance Northern Ireland. We do not provide any insurance products ourselves, but instead can help you get quotes from insurance providers in the UK. Fill in your details and then we will try to match you with an insurer who will contact you directly with their quotes. Then you can compare to see which one is the best value.
Motor Trade Insurance Guide
There are many businesses today that could be said to be involved in the motor trade. They include garages that service and repair cars and provide MOTs, as well as garages and showrooms that buy and sell cars – whether brand new or used.
In each case, motor trade insurance could be a good idea for any business owner involved in this trade. This guide has been designed to provide an in-depth look at what motor trade insurance is, and who it might be suitable for.
What types of motor trade insurance NI are available?
The term motor trade insurance is a catch-all term that could be used to describe several specific types of insurance. As such, anyone looking to get their motor trade business insured may wish to look through the following information. It is also wise to consider whether more than one specific type of insurance might be required in each individual case.
Motor trade road risks insurance:
This is a must-have item to ensure the motor trader is in full compliance with the Road Safety Act. As such, the motor trader should be covered for driving their customers’ vehicles, whether on the road or at their business premises. It may also cover vehicles in transit, and the motor trader’s own vehicles.
As with other forms of car insurance, road risks insurance for the motor trade could be purchased as third party, third party fire and theft or fully comprehensive insurance.
Motor trade liability insurance:
This focuses on insuring the motor trader against any legal liabilities that may potentially arise through the course of their business. For instance, this may refer to being in contact with the public, as well as to any inadequate repairs or defective materials that may occur as a result of working in the business.
Motor trade premises insurance:
If the trader works on business premises, those premises and everything inside them could be covered by this type of insurance. This covers the building itself, as well as all the tools and equipment that are used in the course of the work completed.
Motor trade combined policy insurance:
This is the most comprehensive form of insurance a motor trader could get. It provides a chance to get one policy that could cover everything a motor trader would need to cover in the course of their business. Generally speaking, it may include the road risks insurance, along with other possibilities such as public liability and employers’ liability insurance. There are various other possibilities as well, including material damage, courtesy car cover and more.
Is it worth seeking advice from a specialist insurer?
Some insurers may only cater to private clients, while others specialise in providing business insurance. In the case of the latter, there could be insurers that focus on providing motor trade insurance Northern Ireland, and for other parts of the UK as well.
It could be an advantage for someone to compare motor trade insurance from specialist insurers, as it provides a chance to get a tailored quote. No two businesses in this field may offer the exact same services, which means each business could need very different insurance coverage. Getting the level of cover right could be difficult, which may be another reason to look for a specialist who could access motor trade insurance cheap offers.
Which cars need to be covered?
There are various factors that could affect the level of cover given, and the price that could be charged for it. For instance, a business selling high-end sports cars would possibly need a lot more coverage than one selling second-hand cars. Similarly, the number of people that may need to be covered for driving the vehicles to any extent could make a difference to the overall quote provided.
What are the consequences of not having the right insurance?
A motor trader could be in serious trouble if they don’t have the proper insurance in place. The minimum level of insurance provides road risk cover to ensure all customer’s vehicles are covered while they are in the care of the motor trader. This would be relevant in the case of leaving a car with a repair garage to be fixed by them.
If this insurance was not in place, the customer could potentially sue the motor trader for being uninsured and not taking adequate care of their vehicle. This could leave the motor trader with a huge bill – not to mention the possibility of being fined for not having the required insurance in the first place. Remember, this insurance is required by law.
Looking round for cheap motor trade insurance
Many people may look online to compare insurance policies from a wide range of insurers. While this could be a good starting point for motor trade insurance as well, it is much more likely to be necessary to speak with someone to get a more accurate and relevant quote. This can be a complex form of insurance – one that may result in several types of cover being needed in one case, and yet far fewer in another.
As such, every motor trader should consider which kinds of cover might be required in their case. Someone with experience in this industry could provide a comparison of different forms of insurance, to help the business owner get the proper kind of cover for them. This could be cover that might provide protection and peace of mind in one fell swoop.