Motor Trade Insurance Comparison

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Motor Trade Insurance Comparison

Whether you’re a mechanic or a car dealer, a recovery recovery truck business or a car import business, if you specialise in working with vehicles that you don’t own then you’re almost certainly going to need motor trade insurance.

This type of policy often doesn’t come cheap though, which is why you should use a price comparison service like to compare motor trade insurance quotes. By comparing prices from a wide range of different motor trade insurance companies, you stand a far better chance of finding the right coverage for your own motor trade business.

Is motor trade insurance the same as traders insurance?

Yes, traders insurance is another name for motor trade insurance, as both refer to insurance policies that have been specifically designed to protect businesses in the automotive industry.

What types of businesses should take out motor trade insurance?

If your business involves working with, driving or repairing vehicles that you don’t own then there’s a good chance you’ll need motor trade insurance.

Car dealerships, mechanics, breakdown and roadside assistance businesses, automotive garages, car parking services, car valeting businesses and classic car dealers generally all require motor trade insurance.

Does motor trade insurance allow me or my staff to drive customers’ cars?

Yes, provided your own motor trade insurance policy includes a policy feature known as ‘road risk insurance’, then your business’s staff should be insured to drive customer vehicles.

Many motor trade insurance policies include road risk insurance as standard, but it’s vital that you double check this rather than assuming it’s included with your policy.

Do I need motor trade insurance if I’m only work as self-employed mechanic on the side?

Yes, it doesn’t matter whether this is a side business or your full-time gig, if you work with other people’s vehicles you should still take out motor trade insurance.

Still, if you only do this part-time then you should be able to find a cheaper motor trade insurance policy by opting for part-time insurance cover.

Does my motor trade insurance policy cover any one of my employees to drive customer cars?

If you opt for an ‘any driver’ policy then it would do, but it’s important to remember that those types of policies tend to be much more expensive because the traders insurance company can’t assess the risk profile of the driver.

You’ll usually benefit from cheaper motor trade insurance if you specifically name the insured drivers on your policy, which will allow the insurer to assess the risk profile of each of those individuals.

If each of those drivers is aged 25 or older that is likely to increase your odds of finding cheap motor trade insurance as well.

So I can’t take out motor trade insurance for young drivers?

You can, but you’ll likely pay over the odds for it since younger drivers are considered higher risk.

If it’s at all possible to limit your traders insurance to more experienced drivers you’ll likely benefit from cheaper insurance quotes.