Motor Trade Liability Insurance
The Employers Liability Act 1989 means that you must have at least a minimum level of insurance cover against any claims that you may incur in the event of an employee’s injury or illness as a result of their time whilst working in your employment.
An employee might try to claim compensation from you if they feel you are responsible for any injuries or losses that occur whilst under your employment.
This act makes Employers Liability Insurance a compulsory requirement by UK law – even if you employ people on a voluntary or part-time motor trading basis.
Employers Liability Insurance will enable you to meet the cost of compensation in the event of injury or illness, whether they are cause on or off your business premises. Read more about Employer’s Liability on our FAQ page.
If you would like any assistance with your insurance requirements, or to discuss any questions you may have please give us a call on 0333 003 0042 Alternatively, you can submit a Call Me Now request and an member of our expert team will get back to you shortly.
Motor Trade Public Liability Insurance
This will provide you with the cover your business needs for possible incidents you may encounter with a client or a member of public in the undertaking of your day-to-day business activities.
With a Motor Trade Public Liability insurance policy, you can cover any awards of damages given to a member of the public or a client due to damage of their property or injury caused by your or your motor trade business. In addition this covers any associated legal fees, costs and expenses, along with any hospital treatment (including ambulance costs) should the NHS need to claim from you.
Where Employers Liability Insurance is compulsory, Public Liability Insurance is in general voluntary. Some types of businesses – horse riding establishments for example – are required by law to have public liability insurance in place. Many of your customers and potential customers would like to see proof of adequate insurance before they will permit you to work for them.
Your Public Liability insurance can be arranged as part of a package insurance policy, as an optional addition. We advise that you call Plan Insurance Brokers to speak to a specialist account handler to tailor a Liability policy to your business. You can read more about Motor Trade Public Liability Insurance on our FAQ pages. Call us on 0333 003 0043 or click Call Me Now to speak to an expert account handler.
Product Liability Insurance
This insurance cover would protect your motor trade business should a product cause injury or damage to a client or a member of the public, or their property. As a business owner you have a responsibility to your clients and although this cover is voluntary, a product liability policy along with public liability insurance could save your business a lot of money in the long term.
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For more information and to speak to an expert advisor, call us on 0333 003 0043 or request a Call Back.
Defective Workmanship or Sales Indemnity insurance is usually purchased by motor traders as an extension to a Public Liability Insurance policy. We recommend our Motor Trade customers seriously consider the peace of mind which these policies can bring whether you are involved in vehicle repairs or sales.
It is important to note how Defective Workmanship insurance actually operates as it can be a little confusing if you do not work in the insurance industry. Put simply it will provide cover for damage or injury caused as a result of your faulty workmanship but not the damage to the part which was supplied or worked on.
Defective workmanship cover in practice
As an example; Your employee carries out a simple brake pad and disc replacement on a customer’s car. However he/she fails to correctly tighten the nuts to secure the parts. The customer drives off down the road and after using the brakes a few times they fail and cause the customer to crash into a tree. In this instance a defective workmanship policy will cover the resultant damage i.e. the repairs to the vehicle. However it will not cover the cost to put right the defective work i.e. it will not pay to correctly and securely re-fit the brakes.
Without this type of insurance the likely chain of events would consist of your customer claiming for the damaged car from their vehicle insurer who, after investigating the cause of the claim, would instruct their solicitors to recover their costs from you. This is the point in time you hope the customer’s vehicle is not a Bentley. With a Defective Workmanship policy in hand however you can simply pass the claim to your insurers who will deal with the investigations and if legitimate, settle the third parties claim.
For more information or to request a quotation for a Defective Workmanship liability policy simply call 0333 003 0043 or click Call Me Now to speak to one of our expert team.
Sales & Service Indemnity Insurance
If your motor trade business includes the selling of your expertise – your knowledge or skills, you may want to consider a Sales & Service Indemnity Insurance policy. This policy will protect you against any compensation sort by a client, for any mistakes you have been found to have made – or if you are found to be negligent.
It would also cover any legal costs that may incur. If you are taking out a Sales and Service Indemnity Insurance policy for the first time, the insurer will normally exclude any claims that arise from work carried out before the policy begins.
A policy can usually be extended to include past cover. Plan Insurance Brokers can help you do this. If you have any questions about a Professional Sales and Service Indemnity Insurance for your motor trade business, or if you have any questions, read more on our FAQ page here. Alternatively, call us on 0333 003 0043 or ask for a Call Back.
Who needs Motor Trade Combined insurance?
Running a business can be time consuming and hectic, and that’s without thinking about the various types of insurance you need to carry out day to day.
A Motor Trade Combined Policy can pull together all of the different insurance types you may need into one policy.
This can be a cost effective way of insuring your company, with the added benefit of only having one renewal date to remember.
Plan Insurance Brokers are specialists in Motor Trade Insurance with years of industry experience. The team can assess the risks that your company faces and will create a bespoke policy to suit your needs.
Call Plan Insurance Brokers now on 0333 003 0051 or request a Call Back to discuss your Car Traders Combined Insurance.
What does Motor Trade Combined insurance cover?
This policy can be arranged to cover everything from Employers Liability to Buildings Premises Insurance.
However, at Plan, we understand how every business is different, and therefore every businesses’ insurance requirements are different. We can tailor a policy to reflect this.
A typical policy can be arranged to include cover for:
- Buildings, contents, money and vehicles at motor trade premises.
- Employers liability, public liability & service indemnity
- Cover for service, repair, sales, dealerships and MOT stations
- Road risk cover, goods in transit, loss or damage to tools & equipment
Being Motor Trade Insurance specialists, our experience has allowed us to streamline numerous risk presentation forms into one question set – meaning that we can get you on cover in minutes with as little hassle as possible.
Other benefits of taking out a policy with Plan Insurance Brokers are:
- No requisite for a pre-quote site visit
- Instant expert assessment of your risk over the phone
- Quotes from several leading insurers with one form
- Free £50,000 legal expenses
- Complete claims management service
- Low rates & flexible payment options
Do I need a Motor Trade Combined Policy?
If you are an individual or a company involved in the motor trade operating from premises away from your home address then it makes sense to take out a Motor Trade Combined Policy or Motor Trade Premises Policy.
A Motor Trade Combined Policy can provide you cover for a range risks including cover for:
- Any driver for your own & customers vehicles with an unlimited indemnity on the road
- Your buildings, stock, plant & machinery, portable hand tools, computer equipment, Vehicles at premises
- Business interruption
- Employers liability, public & product liability, service indemnity
- Cash in transit & at premises
- Engineering inspection
- Goods, stock and vehicles in transit
- Personal accident for proprietors and employees
- Loss of MOT license
- Wrongful conversion
- Additional business use
If you simply want cover for vehicles whilst they are being driven and at whilst they are at your premises this can be arranged on a arranged on a Road Risk policy with a vehicle at trade premises extension .
Road Risk only policies are designed with traders working from home in mind. If you trade from premises but have separate policies to cover your road risks, liabilities, tools and anything else you need covered in place and would prefer a road risk only policy we can arrange this for you.
It is worth bearing in mind that most road risk only policies will exclude cover for vehicles within 400 meters of your trade premises.
Cover can be extended on some road risk policies to include vehicles at trade premises, although it is not always as comprehensive or competitively priced as on a motor trade combined insurance policy.
If you have motor trade premises we would always recommend a Motor Trade Combined Policy. With a Motor Trade Premises Policy you will not only find it more convenient having all your cover on one policy but it can also be the most cost effective way to insure your business.
To discuss your requirements call our team on 0333 003 0051 or arrange a Call Back.