Motor Trades
Motor Trade Insurance is a tailored product for businesses that work with vehicles, provides a trade service to vehicles at a retail and commercial level, covering them to work on and drive their customer’s vehicles and vehicles the company owns.
Faulty Workmanship
This coverage protects your business against claims arising from errors or defects in work performed on customers’ vehicles. It covers the costs of rectifying mistakes and compensating customers for damages resulting from faulty repairs, servicing, or modifications. This protection is essential for maintaining your business reputation and financial stability when workmanship issues lead to customer claims.
Public & Product Liability
This coverage addresses third-party claims for bodily injury or property damage arising from your business activities or products supplied. It protects against claims from customers, visitors, and other members of the public who may be injured or whose property may be damaged on your premises or due to your products. This coverage is particularly important for motor trades with frequent customer interactions.
Burglary and/or Theft
This coverage protects against financial losses resulting from theft of vehicles, parts, tools, equipment, and stock. It covers losses from break-ins at your premises, ensuring your business can recover quickly from criminal activities without suffering devastating financial consequences. Given the high value of vehicles and parts, this protection is crucial for motor trade businesses.
Cover for Tools of Trade
This coverage specifically protects the specialised tools and equipment essential to your motor trade operations. It covers repair or replacement costs when tools are damaged, lost, or stolen, whether at your premises or while in transit to job sites. This protection ensures your business can continue operating with minimal disruption when tool loss incidents occur.
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Don't let the complexity of insurance get in the way of your peace of mind. Simply fill out the form and one of our expert insurance brokers will contact you to help you find the coverage you need.
What types of businesses need Motor Trade Insurance?
Motor Trade Insurance is essential for a wide range of businesses including mechanical repair shops, auto electricians, tyre and exhaust centres, vehicle detailers, car dealerships, roadside assistance providers, windscreen specialists, paint and panel beaters, mobile mechanics, and auto parts retailers. Any business that regularly handles, repairs, or sells vehicles should consider this specialised coverage.
Does Motor Trade Insurance cover driving customer vehicles?
Yes, Motor Trade Insurance typically includes a road risk component that covers you and authorised employees to drive customers’ vehicles for business purposes such as test drives, collections, deliveries, and diagnostic work. This coverage is essential for businesses that need to move customer vehicles as part of their operations, providing protection that standard commercial motor policies don’t offer. Please speak with your Knightsbridge Insurance Broker to ensure that this is included or included as an extension onto your policy
How is Motor Trade Insurance different from standard business insurance?
Motor Trade Insurance specifically addresses the unique risks of automotive businesses, including coverage for customer vehicles in your care, custody, and control, road risks while driving various vehicles, specialised tools and equipment, and faulty workmanship claims. Standard business insurance typically doesn’t provide these industry-specific protections that are essential for motor trade operations.
Do I need additional coverage if I sell vehicles as well as repair them?
Yes, businesses involved in vehicle sales should ensure their Motor Trade Insurance includes additional elements such as demonstration coverage for test drives, stock of vehicles coverage for inventory, and possibly title errors and omissions cover. Sales activities present different risks from repair work, including issues related to vehicle history disclosure, financing arrangements, and warranty obligations.
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Knightsbridge Insurance Group is an Insurance Broking Business with over 70 years of collective insurance experience and is founded on generational values that make you feel secure, protected and cared for. As we grow and expand the Knightsbridge Family, we continue to have a deep understanding of your desire to innovate and be extraordinary — both in business and in life.
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