we will do it together
At Needham Insurance, we pride ourselves in providing you with the best and more cost effective cover you need. We have access to many policies and compare so that you do not have to. Our comprehensive knowledge in all insurance fields means that we will be able to help you every step of the way.
Motor trade policy is needed when you are involved in the buying and selling of motor vehicles, MOT testing stations, car hire and servicing and repairing of customers cars.
Motor trade insurance covers you to drive any customer car.
Specific terms of the Motor Trade insurance will vary and please ensure that you make your requirements clear to our advisors when enquiring about the cover that you need.
Needham Commercial Insurance Services can save you time and money on your Motor Trade insurance. We compare Motor Trade insurance policies of all the main commercial insurance companies to find you the right cover at the right price.
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It is a legal requirement to have valid and sufficient Motor Trade insurance cover for your business and the level of cover is dependent upon your requirements.
Cover could include :-
1. Third party or Fully comprehensive
2. Windscreen cover
3. Legal Expenses
This is a policy extension that allows your customers to “test drive” a vehicle you have for sale as long as you have checked a few things before hand. Firstly your customer MUST hold a Full UK driving licence and you MUST have seen the original (no copies). Secondly you must accompany the customer as a passenger at all times. Thirdly the customer cannot and must not either be related to you or ANY of your employees. Be Careful!.
t depends on the insurer you end up with and also whether you are running a full or a part time venture. There are no set rules but your activity level has to make sense! For instance if you are a full time trader with a business partner and you only go through 2 cars in a five month period I think your insurers would be right to be curious as to how you are paying the bills! Generally I think if you are part-time you should see at least one vehicle per month and if you are full time I would say a minimum of 5 per month.
When you insure an individual vehicle on a private car policy it is usually quite clear what its value is and therefore the insurer has an idea of the risk involved, however on a trade policy there has to be a way of governing the risk as numerous vehicles are covered. This is done at the quotation stage between you and your agent whereby it is decided by you to what level you are likely to go to when purchasing vehicles. Bear in mind of course that the higher this level is then the higher the premium will be.
Yes you can, but remember this is a business policy and the drivers added (other than your spouse) should be employed by your business either as a business partner or an employee. Please don’t make things up! Insurers will check that employees for example have proper payslips showing their N.I contributions and tax and worse of all they could and indeed will refuse to indemnify a claim if they find out.