What is Vehicle Importers Motor Trade Insurance?
If you import vehicles to sell, then it’s vital that you have the right type of insurance in place. Vehicle importers motor trade insurance will cover you for all the main risks that come with importing vehicles, including high value and high performance vehicles.
A motor trade insurance policy can include road risks insurance of all types, or you can get a combined policy if you want cover for your premises as well as vehicles.
You can easily tailor your policy so it includes the exact type of cover you need, including extras such as legal protection to give you full peace of mind while operating your business.
What the experts say…
“Importing cars comes with risk, so you want to be sure you have the right type of insurance in place to protect yourself and your business. Motor trade insurance will enable you to cover all of your vehicles under one, easy-to-manage policy and can even include cover for your premises and cash. Policies are very easy to tailor too.”
– Ian Beevis, Founder of Clean Green Compare
Optional Extras for Vehicle Importers Motor Trade Insurance
You can choose from additional types of cover from the options below:
If you were unable to run your business for a period of time, then you’d be compensated until you were able to get back on your feet.
If a customers’ keys were lost, damaged or stolen while in your possession, then you’d be covered for the replacement cost.
Breakdown cover is an extremely useful extra when you’re running a motor trade business. It will ensure that your customers’ vehicles are covered for breakdowns when being moved by your or your staff. It usually includes roadside assistance and sometimes onwards cover.
Employers’ liability cover will protect you for claims that come from your employees. This might be due to a dispute or an accident that occurred at your premises. You can also have legal expenses included with most insurance providers.
Liability claims from members of the public are another risk that motor trade businesses must be prepared for, so it’s a good idea to consider having this added to your policy.
What’s Not Covered?
Each motor trade insurance business is different and has different needs. A vehicle importing business is not the same as a mobile mechanic, for example. When getting cover your for vehicle importing motor trade business, it’s important to know what isn’t covered so you don’t get a nasty surprise further down the line.
Some of the main things that aren’t usually covered by motor trade insurance include:
- Personal use of vehicles: – You will not be able to use any of the vehicles you import for personal use unless you specifically request this when taking out your cover.
- Vehicles not in your care, custody and control: – Only the cars that are under your control and part of your business operations will be covered.
- Unlisted drivers: – Any employees who you want to be able to drive customer vehicles will need to be named in your policy.
- Intentional damage: – You won’t be covered for malicious acts of damage to your vehicles.
- Unattended or unsecured vehicles: – Cars that are considered to be at unnecessarily high risk if stolen may not be covered, such as if the keys were left inside the vehicle.
- High-value or high performance vehicles: – Some insurers will have an upper limit for the value and performance of vehicles they cover, so be sure to find out beforehand if this is the case.
It’s always recommended that you check the details of any policies you’re considering before committing.
Who Needs Vehicle Importers Motor Trade Insurance?
There are several types of motor trade insurance businesses that import vehicles and it’s useful to know if the business you’re currently operating or plan to in the near future, can benefit from having this type of cover.
Some of the main motor trade businesses that need vehicle importers motor trade insurance include:
- New and used car dealerships: Many new and used car dealerships import cars from across Europe and further afield. If this is something your business does, even if only occasionally, then you can certainly benefit from having vehicle importers motor trade insurance
- Specialist importers: If your business specialises in importing vehicles to sell or rent, then you’ll certainly want to have this type of cover in place.
- Part time motor traders: There are also part time motor traders who import vehicles and if this describes you, you can get flexible cover that’s ideally suited to your needs.
In short, if your business puts you in charge of vehicles that aren’t your own—even for a few minutes—you’ll need motor trade insurance tailored to car jockeys or valet work.
Get Vehicle Importers Motor Trade Insurance Quotes Today
How to Get a Vehicle Importers Motor Trade Insurance Quote
It’s very quick and easy to get a vehicle importers motor trade insurance quote. Here are the steps involved:
How Much Will Vehicle Importers Motor Trade Insurance Cost?
There are a few key factors that insurance providers will take into account when calculating the cost of a vehicle importers motor trade insurance policy. The main ones are listed below:
- Number of named drivers: The number of named drivers you have on the policy will certainly affect cost, particularly with younger and less experienced drivers.
- The location of your business: Businesses located in the city centre or other busy locations sometimes cost more to insure than those in quieter areas.
- Types and value of vehicles: Imported cars are often high value and/or high performance and this is certainly something insurance providers will take into account.
- Claims and driving history of named drivers: It’s best to employ experienced drivers with clean records if you want to keep your insurance costs down.
- Level of cover taken out: Third party only cover is the cheapest option but only providers minimal protection for the cars in your care.
- Any extras: Add extras to your policy will increase its price too.
Comparing quotes is an excellent way to save money on vehicle importers motor trade insurance and it’s recommended you do this each year when your policy is coming to an end.
Ways to Save Money on Vehicle Importers Motor Trade Insurance
Below are some excellent ways to save money on vehicle importers motor trade insurance:
Taking even a few of the above steps could help you save significantly on your motor trade insurance.
FAQs – Vehicle Importers Motor Trade Insurance
Is vehicle importers motor trade insurance necessary?
Yes, you’ll need to have motor trade insurance in place to operate your business legally, especially when importing cars to sell. Having motor trade insurance in place will allow you to drive them for purposes related to your business and will also cover them for risks such as theft and vandalism.
Can I get cover for my premises too?
Yes, a combined motor trade insurance policy will provide cover for your premises in addition to the vehicles you have on-site.
Is vehicle importers motor trade insurance expensive?
This will depend on the size of your business as well as the cars you’re importing, how many employees you have, where your business is based and the level of cover you take out.
Are there any restrictions?
Some very high end vehicles may not be covered but this varies depending on the insurance providers, so it’s always a good idea to check beforehand.
