Insurances come in all types, kinds, coverages and amounts; there’s always an ideal insurance for you, your property and occupation. Among the sea of insurances is the part time motor trade insurance or the motor trade insurance; generally, this is what they call insurances offered to those involved in the motor trade industry. When we say involved in the motor trade industry, they could be car jockeys who move vehicles, motor traders that buy and sell vehicles for income, vehicle recovery agents that recover cars once they’re broken down and so on.
Road Risk Insurance
One of the two main type of motor trade insurance, the road risk insurance covers the owner when they drive any kind of vehicle under their possession. Regardless if the usage is for motor trade business or personal matters and the coverage even includes the vehicles owned by customers but your work involves driving them.
The combined insurance coverage of motor trade could also include tools, buildings, equipment and content as well as money. Similar to the traditional car insurance, the insurance for motor trade comes in three varying levels namely Comprehensive, Third Party Only and Fire and Theft.
Additional Tips for Motor Traders
While arranging the insurance, a couple of factors need to be considered. Always be truthful with the circumstances because the entire policy is heavily based on the facts and details given in the quotation. We know that there are certain facts, when declared, will definitely increase the price of the premium. Avoid this, because if the said facts are discovered after the application then either the policy will be cancelled or any claims will be void. Thoroughly consider who will be added in the policy; basically the higher number of drivers the bigger the risk.