HOME INSURANCE WITH BUSINESS USE
A standard home and contents insurance policy may not cover you to run a motor trade business from your home, so it’s important to make sure you have the right insurance in place.
You could run the risk of some claims being rejected if your home insurance provider is not aware of the fact that you run a business from home.
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INSURING YOUR MOTOR TRADE
BUSINESS - WHAT DO YOU NEED?
Home insurance for motor traders covers your home, but not any loss or interruption to your business. So it’s important to think about what kinds of things you want protection for.
MOTOR TRADE COVER
Motor trade insurance is a necessity. You decide whether you need standard road risk, or combined motor trade insurance which gives you cover for a dedicated business premises as well.
LIABILITY INSURANCE
If you employ even one person, it’s a legal requirement to have employer’s liability cover. Tradesure employer’s liability insurance provides cover for £10 million as standard.
CYBER PROTECTION
Data shows that small businesses are often targets for cyber attacks. Protect your business against phishing scams, hacking and ransomware with cyber cover.
FREQUENTLY ASKED QUESTIONS
1. Do I need to let you know if there are any changes to my business?
Any changes to your circumstances could affect your policy and premium, so you must contact us to keep us updated. For example, this could be a change of address, or getting a motoring conviction.
2. Will you still insure me if I work part-time in the motor trade but full-time in another occupation?
Yes. A motor trade policy isn’t just applicable for full time traders. If you are part time, but able to prove you are running a valid part time business as a motor trade, we are happy to offer you a motor trade insurance policy. We may also be able to offer you additional business use to cover your main occupation dependent on what that may be. Give us a call on 0121 248 9300 for more information.
3. Can I get immediate cover over the phone ?
If you are trading vehicles, buying and selling them on a part time or even full time basis then you will need a motor trade insurance policy. If you are repairing or servicing other people’s vehicles, where you have a customer’s vehicle in your care, custody or control for the purpose you will need a Motor Trade Insurance policy…
4. What is employer’s liability insurance?
Employers’ liability insurance is designed to protect your business against compensation costs should any of your employees suffer an illness or injury as a direct result of their employment. This is especially important for anyone working in a mechanical, construction or trade environment where there is an especially high risk of injury.
The law says that as a minimum, your employer’s liability insurance should provide cover for £5 million. Tradesure employer’s liability insurance provides cover for £10 million as standard, with higher rates of cover available.