Motor trade insurance is a complex, specialist policy that anyone who works in the industry requires, whether full or part time, individual or company. Motor Trade Plus can help you find a cover that will suit you no matter how big or small your business is. We have insurance for everybody from traders and valets to mechanics and recovery drivers. Each Policy can cover road risks only when moving customer’s vehicles as well as personal or company cars on public roads. More complex Motor Trade Plus policy can also cover your premises, tools and equipment as well as public liability cover against injuries on your premises, defective workmanship and more.
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Motor Trade Road Risk Insurance
Completing your application
You’re responsible for answering any questions relating to your application honestly. If the information is found to be incorrect it could invalidate your insurance and your insurer may not pay out for any claims you make. Always make sure that the policy you’re applying for has the right level of cover and features that you require.
Road risk only policy
Our standard “Road Risk Only” policy is a great cover for those people who buy and sell vehicles . The policy covers your personal vehicles and vehicles that you own to sell.
This insurance is ideal for sole traders & companies which operate in the motor trade either on a full or part time basis. “Road Risk Only” policy is a perfect solution for those people who require cover for their own and customer’s vehicles, while they are being driven on the road, parked at their home address or their trade premises.
The policy allows all eligible drivers to drive any motor vehicle for the purposes of their motor trade business. Permanently owned vehicles may be driven for social, domestic and pleasure purposes.
Standard benefits of cover:
- Comprehensive Insurance, Third Party Fire and Theft to choose from
- Choice of Indemnity limits from £2,500 to as much a £1,000,000
- Flexible Payments – Ask your broker for lower deposit, less monthly payments
- MID Updates App on your phone
- Unlimited vehicles
- Trade Plates
Additional Covers are available:
- Demonstration Cover
- Goods in Transit
- Breakdown Cover
- Windscreen Cover
- Accident Cover
- Legal Cover
- Public Liability
Why choose My wallet to find your best cover?
We offer access to:
- Motor trader insurance experts
- New Venture, New Start up, New Business
- Competitive premiums from our panel of leading Motor trade insurers
- Cover for one man bands to national companies
- Cover for convicted drivers
- Cover for drivers with an adverse claims history
- Cover for all vehicle types
It’s common for many motorbikes to have some form of modifications added onto them. When shopping for insurance, it’s important that you make note of any modifications that are on your bike, and if you do plan on adding any modifications onto your bike during your policy term, make sure to contact your insurer about these changes as well. There are several types of modifications that can be added to your motorbike, such as:
- Physical modifications
- Practical modifications
- Performance modifications
- Safety-enhancing modifications
- Security modifications
Types of cover for your motorbike?
Third party only is the minimum level cover required by law in the UK. It covers:
- Liability for injury to others (including passengers)
- Damage to third party property
- Liability whilst towing a caravan or trailer
Third party, fire and theft covers everything that third party does, but also:
- Fire damage
- Theft of vehicle
- Damage to your car caused during theft
This typically allows you to make a claim for any damage that has been done to your motorbike (unless otherwise noted in your policy exclusions). This would include accidental damage to your motorbike, vandalism and medical expenses. But between these three levels of cover, which one is the best to go with? Third party only cover is typically going to be cheaper than the other two, as the insurance company won’t have to pay out as much, but for many that may not be the best option.
Simply put, an excess is what you contribute towards a claim. There are two types of excess payments: compulsory and voluntary. The compulsory excess is decided by the insurer and it’s the amount that you must pay if you make a claim on your policy. A voluntary excess is the amount that you choose to pay in addition to the compulsory excess when a claim is made. You can choose how much you pay for your voluntary excess. For example, if you choose to pay a higher voluntary excess, then your premium will be cheaper. However, if you choose to pay a lower voluntary excess, your premium will most likely be more expensive.
What type of bike can I ride?
Your motorbike license entitles you to ride certain types of motorbikes. Age and consideration will be taken into consideration as well as the strength and power of the bike.
There are a total of 4 categories of license:
- AM– this means you are qualified to ride a moped from the age of 16
- A1– qualifies you to ride a 125cc motorbike that has a power output of 11kW or lower and tricycles with a power output of 15kW or lower. Must be at least 17 years old.
- A2– this means you can ride a motorbike with a power output of 35kW or lower, and you must be at least 19 years old
- A– this qualifies you to ride unrestricted motorbikes that have a power output above 35kW. There is a minimum age of 24 under direct access, or 21 under progressive access. For tricycles, power output can be over 15kW, with minimum age of 21.
Please refer to the Government Website for a full list of restrictions.