It is important to cover the motor insurance for the businesses which operates with the handling of vehicles irrespective of the location from which the businesses are carried out. For example, many of the businesses are being performed from home or those who are looking for a professional setup for the business may operate from a separate designated business premises. Also, the owners of these business may be involved in the motor business as a full time or a part time job.
For all such forms of businesses, obtaining a motor trader insurance is mandate. Before obtaining one, it is necessary to understand what these policies offer to the motor trader and other information that the motor traders should be aware of. The following lists information related to motor trader insurance policy. For more information related to motor insurance for vehicle traders, kindly visit the website, onesureinsurance.co.uk/motor-trade-insurance.
Insurance to Cover Premises:
Combined premises insurance cover proves to be beneficial for businesses which has associated business premises where the insurance policy protects the vehicles, with which the business operates, against any kind of theft, or accidental damage or even in case of fire.
Value Payouts for Vehicles:
Motor businesses should know, most of the insurance policies cover the trade value of the vehicle rather than covering the resale value.
Businesses should communicate properly about their involvement in other occupations if any and any additional terms should be agreed to cover those additional occupations under the insurance cover, failing which the benefit of the cover will not be applied when any damage occur to the vehicle when operating them in terms of other businesses.
Often the situation of the business warrants the necessity to employ more than one driver, and in such scenarios the additional drivers can be covered under the insurance policy by paying additional premium as per the terms of the policy.