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What Are the Features Offered By a Combined Motor Trade Insurance Policy?

1
A motor trade policy has become a necessity these days if you own a business that is automotive based in some manner.
When you do go to purchase a motor trade policy, however, you will find yourself facing two options of the combined motor trade policy and the road risk motor trade policy.
Of the two, the more comprehensive and detailed policy is the combined motortrade policy.
The reason for this is that the combined variant of these policies is designed in a way that it includes all the contingencies that a motor business operating from a fixed location may face.
Some businesses that will benefit from getting a combined motor trade policy include repair shops, used or new car dealers and even MOT centres.
The following is a list of features included in combined motortrade policies and their respective descriptions.
1.
Stock: Every medium to large scale business has a certain amount of inventory to take care of.
For example, a motor dealership will have vehicles in its premises; a repair shop will have components and equipment etc.
More significantly, the stocks of medium to large businesses tend to be on the expensive side owing to their size and number of dealings per day.
Therefore, the loss of such stock can result in significant financial damage for you.
A good motor trade policy will ensure that this does not happen by way of providing cover for it.
2.
Tools and machinery: Regardless of how simple or basic a business is there is always the need of tools and machinery.
Moreover, if the size of the business is on the larger side of the spectrum, then the value of tools and machinery can be significant as well.
Furthermore, even if one takes away the implications of the cost of damage or loss of tools and machinery, the financial loss resulting from a drop in efficiency and performance can also take a toll on the business.
Hence, cover provided by motortrade policies in preventing such situations can be very useful for the business owner i.
e.
you.
3.
Liabilities and road risk: These are features that will ensure that you do not suffer financial loss due to some accident on the road.
The liability feature provides protection from damage to other people's property or health while road risk ensures that damage to your vehicle will not take a financial toll on you.
These two are the most basic benefits that any motor trade policy should provide to you.
In addition to these features, there are other benefits that combined motor trade insurance policies would provide to you such as cover for business interruptions of some kind, damage to premises of business etc.
You should also note that the other variant i.
e.
the road risk motor trade insurance policy only contains the liabilities and road risk features, which is why it is widely regarded as the most basic motortrade policy available in the market today.
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