Unlike your personal car that needs to be covered with specific covers under an insurance policy, a commercial policy connected to the motor trade needs to cover many additional aspects that could adversely affect a business in case of any untoward incident.
If your business is part of the car industry that involves owning a car dealership, running a garage or car valeting service, or even if you run your car business from home then there are various aspects that need to be adequately insured through matching insurance policies if you do not wish to be financially felled by an unfortunate accident.
Different motor businesses require different types of cover.
For example, if you own a car dealership then you might have several new vehicles in your dealership.
These vehicles would require drivers to transport them while other technicians might be required to conduct inspections before delivery.
Prospective customers would also demand test drives before making up their mind.
Both your new vehicles and your drivers would be at risk while on public roads or even on your premises.
If you run a garage then your mechanics could again be a risk while repairing or driving cars that belong to your clients.
These mechanics might also fall sick, or might even lose a limb or life while on the job.
Similarly, if you run a car valeting service from a store or even from your home then you might need to drive your own vehicle to your client's premises or drive the client's vehicle to your own.
This could also pose a risk as would any accident caused while polishing the client's car.
Your valeting staff and your client's vehicle would also need to be insured in such a case.
Your dealership, workshop or garage might also have sophisticated tools, machinery, computers, etc.
that would also need adequate cover.
In addition, your entire premises would need to be insured in case of damage due to fire, floods or any other accidents.
Insuring all vehicles related to your business including your personal one is similar to a personal car insurance policy.
You can opt for the basic Third Party or Third Party Fire and Theft or Comprehensive Insurance based on your requirements and your budget, although Comprehensive Insurance does offer the best cover for your own cars and other vehicles that might be involved in any accident.
Your employees too can be insured against accidents, death, sickness, etc.
while your own business can get insured under loss caused due to business interruption and loss or damage of goods in transit, among other covers.
Thus, you should first match your requirements with features offered by an appropriate policy before opting for the best motor trade insurance policy that protects your vehicles, your employees and your premises at the same time.
It does not matter as to whether your business is small, medium or large since if it is connected to the car industry then you need specific insurance cover in the form of motor trade insurance to cover all aspects of your business.
These aspects could be vulnerable to heavy financial losses in case you do not insure them with a matching policy.
If you have neglected or forgotten to take care of any of the above angles then a few clicks could enable you to quickly insure any exposed aspects of your car-related business.