If you run a car dealership or in some other way make your living buying and refurbishing motor vehicles, you will need motor car trade insurance. It is absolutely necessary for those in the motor trade industry. This specific kind of insurance will protect your assets if you get adequate coverage. The first thing to think about when you research motor car insurance are your finances, and then if you will need only a basic policy or one that is comprehensive. Think about more than just how much it will cost you, think about protecting your business assets if something happens.
Basic Trade Coverage for Companies
You have several options when it comes to finding coverage for motor cars that require trade company insurance. Road Risk Only is the most basic policy. There are three different kinds: third party only, fire and theft from third party, and then comprehensive. The first kind will cover injuries, damage to property, and death from a vehicle related to your business. The second kind covers everything the first kind covers, as well as any damage to your vehicles from fire or theft. The last kind is the broadest and will cover accidents as well as all of the above.
Liability Policy Coverage
You will need to purchase a liability policy if the general public is allowed on your business premises. This kind of insurance will ensure you are protected against any damage and injury claims that may occur as a result of a member of the public being on your premises. This may also cover employer liability, faulty workmanship, and sales and service protection.
Combined Coverage Policy
The most comprehensive policy is a Combined Insurance Plan. This covers anything to do with the motor car trade industry that you may come in contact with. It will cover any losses at your place of business or at your home. If you want to ensure there are no coverage gaps, this is the best motor trade insurance for you.
As a business owner, you want to save as much as possible on overhead costs, but you should avoid skimping on motor trade insurance. If you do not protect your business, then you are not just risking your business, you are risking your personal assets, as well. Make sure you compare policies and insurance companies so that you will have enough coverage to keep your peace of mind in place.
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Article Source: http://EzineArticles.com/?expert=Vincent_O'Neil
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