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Criteria for Getting Access to Motor Trade Insurane

Not every Tom, Dick and Harry can get access to motor trade insurance. This is a niche product and there are certain things that are considered before making an offer. It is in your best interest to understand the criteria so that you do not end up very disappointed. First of all you need to be within the motor trade. For example you could be a garage chain or might be in the business of selling both new and pre-owned cars. The provider will want to ascertain that you have independent status and that you have your own premises.

Sometimes there will be exceptions if you work from home. The motor trade insurance policy can cover both full time and part time traders. You can get the policy if you are a static or tied mechanic within the premises. Mobile mechanics have successfully applied for motor trade insurance. They may own a van that is covered under the policy. Vehicle delivery where you are a non transporter can be acceptable under the terms of the policy.

The intricacies of motor trade insurance

There are certain grey areas that might be covered but you need to confirm with your provider. For example the policy might include a full or part time car valet as long as they have premises. These premises can also be classified under the mobile car valet system. The policy will cover you for the car that you are driving and the car that is being delivered. Before taking the car to the client's home you need to consider these factors: The testing coverage does not cover late periods such as between 11pm and 7am. You need to ensure that you notify the provider if you are going to drive the vehicle within that time gap.

You need to be wary of the temptation to get this coverage just because you want to cover a high performance car. The providers of motor trade insurance have become wise to the fact that some people are abusing the system in the hope of getting cover for high performance cars. The company tends to check that the car has been bought and sold. If you cannot provide sufficient evidence of these transactions then the entire policy will be cancelled. You could also be reported to the police for an attempted fraud.

You must be in possession of a full driving license for at least 12 months. The EU has specific requirements for citizens of member states. You cannot get this policy if you are younger than 18 years of age. Drivers that are under the age of twenty five years will face further restrictions on their motor trade insurance policy.

The engine size has to be restricted. For example cars with turbo facilities or higher engine sizes will be excluded from the policy. The Subaru is a favored car and the motor trade insurance providers will be on the lookout for younger clients trying to get coverage in circumstances where other providers will laugh them out of court. They undertake routine checks on the information that you have provided to them.

Why get motor trade insurance?

There are specific circumstances where you will need motor trade insurance. It is important that you stick to these themes and that you do not try to pretend that you are a trader when in reality you are some teenager trying to pull a fast one. There are specific arrangements for high performance vehicles. Do not pay a cent to the dealer until you are sure that you can get coverage. In the absence of other mitigating factors the policy will be cancelled if the provider finds that there are deliberate attempts to mislead them.

For details on motor trade insurance cover for traders with or without premises, please contact our business insurance team to discuss your requirements