• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Lifestyle Links

Your One Stop Shop for Everything Lifestyle

  • Home
  • Lifestyle
  • DIY
  • Food
  • Health and Fitness
  • Hobbies
  • Travel
  • Contact

Reasons Why You Need Motor Trade Insurance

April 29, 2019 by admin Leave a Comment

 

Businesses that are in the motor trade are required by the law to have at least the basic type of motor trade insurance. This type of insurance is called Third Party Only or TPO. This will cover damages to the third party involved in case of a crash.

Another type of insurance for motor traders is Third Party Fire and Theft. It has the coverage that TPO offers but at the same time, it also covers you for any damage caused by theft or fire, as long as the fire is not by an accident that you caused. There’s also the comprehensive insurance that provides coverage on the third party and your side too, no matter whose fault it is. Here are the top reasons why you should consider getting motor trade insurance.

The law mandates it

As mentioned, getting motor trade insurance is required if you are in the motor trade business. You will be a lawbreaker if you do not get at least the recommended basic insurance and this may lead to unwanted problems with the authorities if they find out. It’s best to abide by the rules to prevent hassles in the future.

It’s needed for test drives

If your business involves selling vehicles, customers would most probably want to do a test drive to get a feel for the car’s performance. Not having the right type of insurance may cost you a sale because clients may not want to use their own insurance for test driving your vehicle. Demonstration insurance cover will provide the needed protection for this situation.

It will protect your stock of vehicles

Your vehicles are always at risk of theft and fire damage. Without the proper protection, you will end up with nothing if an unfortunate event happens. Stock vehicle cover is a type of insurance that will protect your stock of vehicles in case of fire or theft.

It will cover your tools

Being in the motor trade means that you will be doing some tasks or work that will involve the use of tools. For instance, replacing tyres or vehicle parts will require the use of these costly tools. They are also prone to wear and tear, and they may get damaged for some other reasons. If you use expensive tools, it’s best to get tool coverage too. As the term suggests, this will cover your tools in case they break or become damaged.

It will protect employees and people around

Liability cover will protect people that come near your business, in case an accident happens while they are around your premises. Employee cover, on the other hand, will provide coverage for your staff or the people that work for you.

A trusted motor trade insurer can help determine which coverage you should get to maximise your protection. Work with one that has a proven track record in the industry to ensure that you are getting the best option. Getting the right insurance will protect your business from damages and loss that may be caused by unwanted and unforeseen incidents.

To read more on topics like this, check out the lifestyle category.

Filed Under: Lifestyle

Previous Post: « Get the Best Candidates Through a Physician Recruitment Firm
Next Post: Alternative Treatment for Back Pain »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Let’s Be Friends!

RSS
Follow by Email
Facebook
fb-share-icon
Twitter
Tweet

Hi Friends!
I'm Fern and I have a love for travel, beauty, health and flowers! I went to school for nutrition, but wasn't really interested in being a nutritionist. So, I started to bartend and have since I graduated school a year ago.
I love talking to people, traveling and writing on my blog... and bartending allows me to do the things I love.

I can take off for a month to travel abroad and there will never be any shortage of bartending/serving jobs when I get home. I also love that I can work abroad bartending anywhere I want! So, I hope you enjoy my blog and if you have any questions, feel free to email me! :)

This message is only visible to admins.

Problem displaying Facebook posts.
Click to show error

Error: Server configuration issue

Twitter Feed

FernFollow

Fern
fernslifestyleFern@fernslifestyle·
14 Jun 2017

YUM!

epicurious@epicurious

These summer salads only get better overnight: https://t.co/sH3CFSMISF

Reply on Twitter 874790301960982528Retweet on Twitter 8747903019609825281Like on Twitter 8747903019609825281Twitter 874790301960982528
Retweet on TwitterFern Retweeted
laurDIYlauren ✄@laurDIY·
14 Jun 2017

my postmates ignored the giant "DECAF" note I left on my latte order and now I'm like

Reply on Twitter 874788328335212544Retweet on Twitter 874788328335212544254Like on Twitter 8747883283352125443890Twitter 874788328335212544
Load More...

Footer

Copyright © 2023 · Ferns Lifestyle Links