The Go-getter’s Guide to Part-time Motor Trade Insurance

As the name insinuates, part time motor trade insurance is basically established to cater to the needs of business owners who are in the motor trade for a part-time basis only. You may be involved in another trade while trading vehicles on the side for added income, or you may be employed in an office while dealing car and their parts as a side job, too. Whatever situation you may be into, it is always important that you get proper insurance for your tools, equipment, and other significant assets.

If you are into part-time motor trade, it’s always advisable that you compliment your business with part-time insurance. This will actually save you a lot of money, especially when you have been taking out separate insurances for every vehicle that you have.

part time motor trade insurance

Defining Part-time Motor Trade Insurance

Apparently, the part time motor trade insurance works in a similar way as its full-time counterpart. One difference here is that the policy includes amendments that are made to fit the requirements set by motor traders. All basic activities are particularly covered including repair, service, restoration, exhaust replacement, and sales. The key difference in being a part-time trader is the fact that you may only have a few employees or none at all. This will definitely be reflected in the insurance policy.  An extension may also cover a secondary occupation if you have another business aside from motor trading, and both businesses will be covered by the same insurance policy.

Features of a Part-time Motor Trade Insurance Policy

There are basically two primary types of insurance policies that cover part-time motor trading –road risk and combined insurance. Most part-time motor trade owners do not have a specific office for the overall operation. Hence, the road risk insurance is highly recommended to cover both vehicles that are on the road and those that held in stock.

If there is a specific office or premises for the vehicles, you can also take policies covering the whole building, tools, equipment, money, and machinery. A public liability insurance may also be taken out.

When looking for a good part-time motor trade insurance policy, make flexibility and reliability as your basis. By being flexible, the policy can actually cover several varieties of tasks done in the trade. Most policies also include extra features depending on your needs, too. These added options include material damages, single or multiple drivers, business partner or spouse coverage, and other products based on the nature of your business.