When you run a business in the motor trade you must take steps to protect your business in order to decrease the chance of break-ins and other risks as well as keeping your insurance affordable.
The risks you face will depend on the type of motor trade business you run. Below is some advice on getting the right type of motor trade insurance policy as well as some recommended security measures to take to make your business safer.
Motor trade insurance
Motor trade insurance is a special type of cover that’s designed for people who run businesses in the motor trade. A motor trade insurance policy enables you to protect all aspects of your business. Below are some common types of cover –
- Road risks – This type of policy will enable you and your staff to work on customer vehicles legally. This also includes transporting them. You can get third party cover; third party, fire and theft or fully comprehensive.
- Combined policy – A combined policy is extremely useful for those who work in the motor trade since it enables you to cover customer and company vehicles as well as your premises, including stock, tools and cash.
- Part-time policy – A part-time policy is suitable if you only work in the motor trade on a part-time basis.
In order to get motor trade insurance at the best price, you should use a comparison service that enables you to get quotes from many different providers.
Best security measures
One of the best ways to save money on motor trade insurance is to take as many steps as you can to make your business more secure. Below are some recommended steps to take –
- Be selective with your employees – This one may seem obvious but the more selective you are with your employees, the less chance there is of incidents occurring, such as road incidents that could lead to liability claims. The best type of people to hire are those who are over 25 years of age and who have a lot of experience in the motor trade.
- Secure your premises – Securing your premises is one of the best ways to make your business safer. There are many steps you can take to make your premises more secure. Installing CCTV cameras, security lights and an alarm are all excellent ways to do this.