If you’re a part time motor trader, don’t fall victim to the idea that you don’t need a full time insurance policy! Whether you work a few days during the week or even just a few hours on the weekend, it is essential for you to take out adequate coverage. It may seem like your minimal hours reduce the risk of any claim worthy issues, however the reality is that you are just as likely to fall victim to damaged customer cars and break ins as any other full time motor trader. If you’re not covered by motor trader insurance for these sorts of issues, the consequences could be crippling for your bank account. Especially if you don’t have the security of a full time motor trader salary!
Thankfully, there are a range of flexible insurance options specially designed to suit the needs of part time motor traders. To help you gain a better understanding of what’s on offer, we’ve put together this useful reference list looking at popular policies at what they cover:
Simple road risk insurance
If you use vehicles on public highways, taking out simple road risk insurance is a legal requirement. This will allow you to test drive customer vehicles with the peace of mind that you are completely covered should anything go wrong. Third party coverage is the legal minimum requirement while upgrades to third party fire/theft and comprehensive coverage can also be chosen if you prefer additional peace of mind.
Vehicle theft or damage
Just because you work part time, it doesn’t make your customer vehicles any less at risk of theft or damage. If you are forced to cover such expenses out of your own pocket, it could put your business in a dire position.
Public liability
While you many spend less time on the job, it doesn’t eliminate the risk of any customers falling victim to injuries when visiting your workplace. In the case of any issues or compensation claims, it pays to be covered with adequate public liability insurance.
Whether you work as a part time car and motorcycle salesperson, mechanic, body shop repairer, breakdown recovery assistant, windscreen fitter, auto electrician or MOT tester, it is critical to make sure you have a valid insurance policy. As well as protecting yourself from any financial issues, a comprehensive policy will also help to build your business reputation and encourage positive word of mouth advertising from satisfied customers whose issues have been solved quickly and efficiently.
But with part time motor trader considered as a higher risk by most insurance providers, where can you find the best deal? Compare Crazy offer a huge range of part time motor trade insurance policies at highly competitive prices. The clever platform trawls the web for the best online insurance deals which means that even if you only work part time, you’ll still be able to turn a healthy profit. With the ability to take out online cover in just minutes, it’s an easy and convenient way to ensure you are completely protected in a worst case scenario.
