The Basics of Motor Trade Insurance

Motor trade insurance is a special insurance plan optimized for people in motor or trade. Motor trade in this context refers to the business of selling motor vehicles – vehicles of all kinds; trucks, cars, motorcycles, exotic cars, luxury cars, even earthmoving and heavy equipment under some definitions. Now business processes are as unique as the products they sell. And all of them have some form of insurance suited to their requirements. Motor trade insurance is an insurance plan designed to optimize for the auto trade industry in order to offer them coverage for the risks that are unique to their trade.

Now any business would have several forms of insurance – insurance for the building, insurance for assets and property, insurance for vehicles, insurance for machinery etc. Proprietor’s often make the mistake of approaching different vendors for different kinds of insurance. Motor trade insurance offers you coverage for everything under one consolidated plan. Now the definition of ‘everything’ will differ according to what you choose and how you customize the plan. This is pretty much standard procedure on all insurance plans where the buyer can pick and choose and make sure that the most probable risk factors are covered first. This allows the buyer to prioritize.

With motor trade insurance, you can choose what risks you want coverage for and hence avoid ending up paying unnecessary money for risks that have a very low possibility of occurrence. Most businesses run like a tight ship, especially start-up businesses where every penny counts. Accountants work overtime to pinch every penny and ensure ongoing revenue and positive cash flow. In such a delicate scenario, motor trade insurance has a triple benefit. Firstly, as explained above, the plan is perfectly suited for the auto trade industry and offers a complete end to end solution. Proprietors need not go to separate vendors for separate coverage and hence avoid having a disparate, disconnected insurance system which entails a lot of time and paperwork.

Secondly, motor trade insurance will allow the business to pay only what it needs to pay and if you have very safe building layout and feel that fire hazard is not a major risk, then you have the option of not paying premium for that. Thirdly, such insurance will come to your aid when you need it. Times are difficult and most companies, especially start-ups will not have the resilience to absorb the impact of a blow delivered by a sudden mishap.