Looking for affordable, reliable insurance for your motor trade business? As trusted motor trade insurance brokers for over 20 years, SEIB Insurance Brokers have helped motor trade businesses of all sizes source the insurance they need.
Simply complete our quick enquiry form below or call us on 01708 850 011 and one of our dedicated motor trade insurance experts will provide you with jargon-free advice and a value for money quote.
What is motor trade insurance?
Motor trade insurance, also sometimes referred to as Traders insurance or Trade insurance, provides cover for a wide range of businesses involved in the motor industry.
At SEIB, we can arrange insurance for a wide range of businesses in the motor trade including motor traders specialising in the service and repair of cars and small vans, MOT garages, body shop repair garages, accident repair garages, motor dealerships, tyre, brake and exhaust fitters and more.
What does motor trade insurance cover?
As independent insurance brokers, we work with leading insurers to find you flexible, specialist cover that can be adapted to suit your needs. Our experts understand the risks your business face and will be able to offer advice on the specific insurance required to protect you and your business.
Our motor trade insurance policy can include:
- Road risks – covering you to drive cars owned by both your customers and your business.
- Business premises and contents insurance – cover to protect your business for repair or rebuild costs in the event of fire, flood, burst pipes and more.
- Public liability – covering legal expenses or compensation claims if a member of the public suffers personal injury or property damage because of your business.
- Employers’ liability – covering compensation costs if an employee becomes ill or injured as a result of the work they do for your business.
- Product liability – cover against compensation claims caused by faulty products e.g. if failure of a part fitted to a vehicle leads to an injury.
- Business interruption – covering lost business income following a disaster such as a fire.
- Goods in transit – covering items such as portable hand tools and diagnostic equipment being transported by vehicle from theft, loss or damage.
- Equipment cover – including tools.
- Commercial legal expenses – cover for legal costs relating to a range of commercial disputes
As it is a legal requirement for a competent person to regularly assess certain items, we can also arrange statutory Engineering inspections, to ensure that the machinery and equipment you have (such as lifting equipment) is safe to use.
Why choose SEIB for motor trade insurance?
We’ve been helping businesses to find the right insurance cover since 1963. We only work with ‘A’ rated, UK based insurers that provide exceptional claims service. There are no admin fees and your premiums can be paid in instalments at low-interest rates (subject to status).
With a customer retention rate of over 90%, however specialist your requirements are, you can rest assured that we can arrange an affordable policy that you can depend on.
Get a competitive motor trade insurance quote today
Getting a quote couldn’t be easier, simply complete our quick enquiry form below, call us on 01708 850 011 or email motortrade@seib.co.uk
Our experienced team will ask a few initial questions to better understand your business and will then advise you on the bespoke cover you need and provide a cost-effective quote quickly.
We know everything there is to know about Motor Trade Insurance. What would you like to know?
Does a Motor Trade policy cover me to drive all vehicles?
Motor Trade policies generally cover drivers to drive any motor vehicle that is the property of the Policyholder or in their custody or control for Motor Trade purposes.
Are there any limits on the numbers of vehicles that can be included under a Motor Trade policy?
There are no limits on the vehicle numbers.
Are there any limits on the values of vehicles?
Motor Trade policies will generally have an Indemnity Limit under the Road Risks section, which controls the maximum value of any one vehicle being driven on the road.
Who can I include to drive under a Motor Trade policy?
Motor Trade policies will generally offer options on either selecting Named Driver or Any Driver cover, depending on the size of the business.
What is Wrongful Conversion cover?
Wrongful Conversion is to protect you against loss following the purchase of a vehicle from someone who is not the true owner.
Is Motor Trade insurance a legal requirement?
Two key cover components of a Motor Trade insurance are a legal requirement, these are Road Risks cover (Road Traffic Act 1988) and Employers Liability cover (Employers Liability’ (compulsory insurance) Act 1969). Additionally, Engineering Inspections are an essential aspect of ensuring Plant and Machinery are safe to use. It is a statutory requirement that certain items of equipment and plant are inspected.
How can I save money on my Motor Trade Insurance?
Always remember to check the interest rates on any direct debit facility a broker or insurer may offer. It’s also worth checking whether any administration fees will apply at any stage.
How much does Motor Trade Insurance cost?
This will depend on whether you purchase a Road Risks only policy, or require a larger combined Motor Trade insurance with greater cover.
