Motor Trade Insurance Questions

Our motor trade insurance brokers are experts in finding a great value quote for your business. Here are a few commonly asked questions.

Have more questions? Call us on 01227 285540

Yes, if you want to drive or protect other people’s cars in connection with your business. A Motor Trade Road Risks policy will allow you to drive customer’s vehicles on the road, this may be required to test, collect or deliver a vehicle regardless of whether you repair, service, valet, MOT test or undertake other work on the vehicle. If you are involved in vehicle sales, you can also upgrade your cover to include accompanied demonstration use.

There are also various different types of liability policies that can be included in a Motor Trade Policy which give valuable cover:

  • Public Liability Insurance – will protect your business from claims made by third parties for injuries or damage to property, caused as a result of your business activities. For example if you sold a car that was in an accident on the customer’s journey home due to the brakes failing or a tyre worked loose following its replacement you would be covered for any damages
  • Employer’s Liability Insurance – required if you employ anyone, to cover the cost of compensation, should they be unfortunate enough to be injured whilst at work.
  • Asset Cover – cover for the cars you have in stock, your tools and machinery, your office equipment and even your business premises can be added into a combined policy should you need it.
Motor Trade – Your Motor Trade No Claims Bonus will usually need to be earned whilst operating as a Motor Trader, in the UK, in your name, within the last 12 months and not used to insure your private car.

  • We can sometimes offer policies where you can use an No Claims Bonus earned on a private or company car policy, but this will need to be discussed with the insurance advisor when you call.

Van – Your No Claims Bonus needs to have been earned on a policy with the same type of use, within the last 12 months, in the UK and in your name.

HGV – Your No Claims Bonus needs to have been earned on a commercial policy, driving any size HGV, within the last 12 months, in the UK and in your name.

Motor Trade Insurance – Quote Me Today’s Motor Trade policies can cover a wide range of vehicles. We can often provide cover for those with non-factory modifications, imports, high performance and sports cars.
HGV – Quote Me Today’s HGV policies cover lorries from 7.5 to 44 tonne. We do try to accommodate most vehicles and typically cover flatbeds, skip carriers, tippers, tankers, articulated trucks, rigid body trucks, refrigerated and temperature controlled containers, curtain sliders, gritters and sweepers. We can also cover vehicles that carry hazardous goods, including those for which you need an ADR licence (see below for more details).
Van – Quote Me Today’s van policies cover all types of vehicle up to 3.6 tonne, whatever the design or goods carried.
If you are unsure whether your vehicles can be covered why not speak to one of our advisers, who will be more than happy to answer any questions you may have. You can contact us directly on 01227 285 540.
No. We can amend your policy to take account of the proportion of time you spend working in the Motor Trade. We can often offer additional business use on your trade policy to cover your other occupation too.
Normally most insurers will require a minimum of 7-10 car sales per year before they will provide trader cover. As part time motor traders won’t sell as many cars, we can provide insurance for as few as 5 cars per year in some cases. You will be asked to provide evidence such as receipts to most insurers.
We can tailor your policy to meet your requirements, whether that be only a couple of vehicles at any one point in time up to 20 or 30. The indemnity level can be set to meet your needs. We can even include your own personal vehicles in the policies if you prefer, at trade value, to save you having to have several policies running at the same time.

We also offer single vehicle or fleet policies for people with a number of lorries, vans or cars.

Yes, you can trade from home, business premises or even mobile, as long as you have advised us of how you would like to operate so we can reflect this on your policy. Your cover will vary depending on where you trade from so you must discuss this with the specialist advisor when you call, to ensure you have the cover you need.
If you would like to allow customers to test drive a vehicle you can do this with Quote Me Today. If you add demonstration cover to your policy customers can take the vehicle on a public road with you, or any other person you have specified on your policy as being eligible, in the passenger’s seat.
Of course. You can add named drivers to the policy, such as those you employ, your business partner or your spouse. In fact, it is often a requirement that anyone that you would like to be able to drive your Motor Trade vehicles are specified on the policy, as ‘Any Driver’ policies are no longer offered by most insurers due to the risk they pose.
Your indemnity level is the level of cover that you have chosen. This may be split down by category i.e. you may have one level of cover for your own cars and a higher level of cover for those of your customers. For full information on what level of cover you have please refer to your policy letter and your Statement of Insurance in your policy pack.
It is usual to have a compulsory excess, set by your insurer, but you may also have requested an additional voluntary excess.

The details of these can be found in your policy letter and your Statement of Insurance in your policy pack.

The trade value of a vehicle is the value a trader would pay for it and is often lower than you would expect to pay for a vehicle of the same age and condition in the open retail market. It is normally similar to the wholesale value, the value the car would bring at a wholesale auction.
Turnover is the level of income you expect to receive by operating your business, before you take account of any costs. This is sometimes referred to as sales revenue.
Our prices are among the lowest on the market; however, you may occasionally find a cheaper price elsewhere. If you find a cheaper price please make sure you are comparing like with like, including the total excess and any limits to payments made in the event of claim.

You may also be able to reduce your price by increasing your policy excess or changing your cover levels. We will happily discuss your cheaper quote with you to make sure you are getting the right cover.

Quote Me Today specialise in giving the best, most suitable policies rather than a “one size fits all” approach.

Yes you can protect your No Claims Bonus. This is usually subject to an additional premium.

Please bear in mind though, that unlike with private car policies, if you change insurer and have made a claim, your new insurer may step back your NCB entitlement.

  • Motor Trade – Yes. We also offer the ability to use your No Claims Bonus accrued on a private car for your business if you are setting up in the Motor Trade business for the first time. This gives you the helping hand you need when starting out in a new venture. Ask the advisor for more details when you give us a call on 01227 285 540, selecting option 1.
  • Van – Yes, call us on 01227 285 540, selecting option 1, for a quote.
  • HGV – Yes, call us on 01227 285 540, selecting option 1, for a quote.
We typically have No Claims Bonus introductory discounts of 50% or 55%. In addition to this we have a number of risk related discounts available to us that could give you a further discount.