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Who Provides Motor Trade Insurance?

When shopping around for a motor trade policy, knowing which insurance providers supply this type of cover can be useful. Comparing quotes from multiple motor trade insurance companies using a site like NimbleFins is a good way to find policies from multiple providers that offer more favourable terms or cheaper premiums.

A business that is part of the motor trade industry needs motor trade insurance to protect from any claims brought against it related to accidents or losses. To be eligible to obtain motor trade insurance, the business will need to prove that it makes an income from the industry. Sales receipts, invoices and other documentation can be used to prove that the business is connected to the motor industry.

It should not be assumed that every provider will offer motor trade insurance. Some specialise in particular lines of insurance while others sell everything. There are also reasons why a policy could be denied. For example, many insurers will not consider extending motor trade insurance to those under the age of 25, though there are some that will consider business owners from 21 years of age. Similarly, those with an extremely poor driving history or criminal convictions may also find obtaining cover problematic.

Motor trade insurance can combine multiple types of cover under one policy; depending on the need, additional or specialised coverage may be added. Motor trade policies typically include:

  • Road risk insurance
  • Public liability
  • Product liability
  • Employer’s liability
  • Material Damage

Business owners that need to have this type of coverage include places like mobile car detailing services and MOT testing centres. In addition, companies will need to make sure they have the necessary protection in place if planning to drive customer vehicles on public roads. However, the law states that while certain businesses require motor trade insurance, it only needs to be the minimum level needed to operate.

This means that some businesses may be able to take advantage of the cheaper rates provided by third party fire and theft or third party only coverage. Keeping costs down can be an important consideration for small or start-up businesses that need to keep a close eye on outgoings.

Here are some well-known insurance companies and details of the insurance they provide.

Haven motor trade insurance

As an insurer specialising in motor trade companies and fleet operators, Haven Insurance offers flexible cover from small businesses up to large organisations. However, while Haven can cater to a range of specialised needs, their motor trade insurance only extends to road risk policies.

It may be best for businesses requiring additional insurance to seek an insurer that can accommodate all needs. On the plus side, their specialised underwriters may be able to offer coverage not provided by other insurers.

Does Aviva do motor trade insurance?

Aviva is a recognised name and a large player in the insurance market, offering everything from home and car insurance to business and personal accident insurance. As the largest general insurer, it is no surprise that they offer motor trade insurance with a range of products to suit businesses large and small.

Motor legal protection can be included up to £100k, and loss of customer vehicle or contents has limits of £100k and £250k respectively. Aviva can cover them all from large complex organisations to small outfits with just a handful of named drivers or sole traders that need motor trade insurance. However, Aviva motor trade doesn’t work directly with customers. Instead, customers need to access these policies via a broker.

Does Quote Me Happy do motor trade insurance?

Keeping costs down and providing online account management is Quote Me Happy’s focus. For that reason, they concentrate on just a few insurance product lines, providing insurance policies for homes and cars along with life insurance.

Everything is managed online with Quote Me Happy, including claims, renewals, and documentation to reduce overheads and enable them to be competitive. However, while they do a good job at removing admin fees and passing on the cost savings to customers, they do not provide motor trader insurance.

Does Zurich do motor trade insurance?

Zurich is a leading multi-line insurance company providing policies for multiple types of coverage. They are recognised as one of the world’s leading insurance providers and offer home, business, motor, and personal insurance.

Travel, boat, and income protection products can all be purchased from them. However, while they can supply policies for motor fleets and specialise in various other products, they do not provide the necessary coverage needed by those operating in the motor trade.

Anyone needing a motor trade insurance policy always makes good busifness sense to compare quotes from different companies. Make sure the companies approached provide motor trade insurance and determine the level of coverage needed. Any policy bought should provide enough cover to protect the business in the event of any claims.

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