This is the entry level trade policy, and for some it is all they need:
About a road risks policy
This type of motor trade insurance provides cover for vehicles on the road (any place where the Road Traffic Act applies), but is subject to some exclusions.
These exclusions differ from insurer to insurer, but broadly the following will apply:
- No cover for vehicles whilst on the trade premises
- No cover for vehicles whilst parked in the vicinity of the trade premises
- No cover for spare parts or acessories unless they form part of the manufacturer's original specification
- A gross vehicle weight limit will apply (normally either 3.5 tonnes or 7.5 tonnes
- Transporters are restricted to carrying a maximum of two vehicles
- Vehicles being towed or transported are only covered for third party risks, even if the insurance policy is comprehensive
- Certain types of car are often excluded from cover entirely
- American / canadian cars are normally excluded or cover is restricted to third party only
- Q plated vehicles are excluded or restricted to third party only
- Sports, high performance vehicles
No two motor trade businesses are identical. We always try to provide a policy which is bespoke to you and provides the correct balance between insurance protection and protections which you yourself can put in place.
These policies are fairly complex. You should always discuss your requirements with your insurance broker to find out what is best for you.
You may be able to purchase a policy directly from an insurer, but insurers have no responsibility to advise or offer alternative solutions. They only want to sell their own policy and they don't want you to make a claim.
So, use a broker. The broker will give impartial advice and will offer policies from the whole market. An insurance company cannot do either.
The cover available under a road risks policy is:
- Comprehensive road risks
- Third party fire and theft
- Third party only
Extensions normally available
- Transporting vehicles for payment (hire and reward)
- Transporting more than two vehicles at a time
- Vehicles in excess of 3,500kg total laden weight
- Vehicles parked on or near the trade premises
- Motor cycles
- Demonstration cover for prospective purchasers to drive
- Customer loan cover - whilst you are repairing the customers vehicle
Some of the insurers we use
- Haven Insurance Company
- Tradex Motor Trade Insurance
- Tradewise Insurance Company
You've Insured your Business, why not Insure your Car or Home as well, and consider our Optional Extras which include, Tools in Transit Cover, Breakdown Cover and many more for our other products, to make sure you're well protected and to give you peace of mind.