There are many benefits of obtaining motor trade insurance. Before discussing the key benefits, we’ll talk about whether you need it or not. By the end of this article, you’ll have a clearer understanding of whether or not you need the insurance and what the benefits of having it are.
Do You Need It
You will need business motor trade insurance if your company owns vehicles that operate on public roads. The law requires you to have insurance if this is the case. If you decide to operate company-owned vehicles or have your employees operate them and you don’t have insurance, then your company can face serious consequences.
Do you have a fleet of cars or vehicles that are crucial for your business? For example, do you have several vans used for deliveries or cars to transport passengers? If so, then you’ll want to buy insurance.
Do you keep tools, machinery or other types of equipment in your vehicles? Is such equipment and tools used as part of running your company? Do you use vehicles that transport goods? If you answered yes to any of those questions, then yes you will need car trade insurance.
The Benefits
There are dozens of benefits. If you need insurance, then you’ll receive peace of mind. Besides that, the other key benefits include:
Protection – Your business’s cars will be protected against various elements, such as fire and theft. You’ll also have protection from accidental damage. If you want to protect your company as a whole and its vehicles, then you’ll definitely want to have business car trade insurance.
Tailor Your Policy – Another benefit of this type of insurance is you can often tailor it to suit your specific business. For example, a single policy might be able to cover everything from your vehicles to tools to IT equipment and loss of earnings in the event something happens to your assets. If a fire occurs and destroys everything, then your policy might cover everything and not just your vehicle/vehicles.
Road Risk – When you buy insurance, then the policy will likely include coverage for both liability and road risk. What this means for you is if you have customers that require you to operate their vehicles, then you’ll be covered. For example, if you ended up damaging their car while operating it, then your car insurance policy will cover it.
Save Money – Above all else, you could end up saving a lot of money. In the event the unexpected happens, you’ll be covered. All it takes is having to use the insurance once or twice for it to be worth it.
Do you want to receive road risk and save money? How about being able to tailor your policy and receive protection? If so, then buy trade insurance.
Those are the key benefits of motor trade cover. If you want this type of insurance, make sure you do a bit of comparison shopping. Compare as many car policies as possible and then you can decide which policy to purchase.
