Comprehensive Motor Trade Insurance Solutions

Understanding Motor Trade Insurance

Motor Trade Insurance is a specialised insurance policy designed to cover businesses involved in the automotive industry. This includes car dealerships, repair garages, service stations, body shops, MOT centres, and mobile mechanics. Motor Trade Insurance provides comprehensive coverage for the various risks associated with running a motor trade business, ensuring protection for your business assets, employees, and customers.

Why Motor Trade Businesses Need Insurance

1. Risk Mitigation: Motor trade businesses face numerous risks, including vehicle damage, theft, accidental damage, and customer injuries. Motor Trade Insurance helps mitigate these risks by covering associated costs and liabilities.
2. Legal Compliance: In Australia, businesses in the motor trade industry are required by law to have certain types of insurance, such as compulsory third-party (CTP) insurance. Having comprehensive Insurance ensures compliance with legal requirements and protects against potential legal penalties.
3. Financial Protection: Unforeseen incidents can lead to significant financial losses. Motor Trade Insurance provides financial support to help businesses recover from claims and continue operations without substantial financial strain.

Key Features

• Road Risk Insurance: Covers vehicles that are driven on public roads, including customer vehicles in the care of the business.
• Public Liability Insurance: Protects against claims of injury or property damage caused to third parties on the business premises or due to business activities.
• Employers’ Liability Insurance: Provides coverage for medical expenses and lost wages for employees who are injured or become ill as a result of their job.
• Product Liability Insurance: Covers claims arising from defects in the products sold or supplied by the motor trade business.
• Business Interruption Insurance: Offers financial support for lost income and additional expenses incurred due to disruptions in business operations caused by insured events.
• Tools and Equipment Insurance: Protects the business’s tools, equipment, and machinery against risks such as theft, damage, or loss.
• Property Insurance: Covers the physical assets of the business, including buildings, office equipment, and contents, against risks such as fire, theft, and natural disasters.

What Does This Insurance Typically Cover?

• Vehicle Damage and Theft: Coverage for repair or replacement costs if vehicles in the business’s care are damaged or stolen.
• Third-Party Injury Claims: Protection against legal fees and compensation payments if a third party is injured due to the business’s activities.
• Employee Injuries: Insurance for medical expenses and compensation for employees injured while performing their duties.
• Product Defects: Protection against claims arising from defects in the products sold or supplied by the business.
• Property Damage: Coverage for repairs or replacements needed due to damage from fire, theft, storms, or other insured events.

How iQuotes Helps You Find the Right Insurance

iQuotes simplifies the process of obtaining Insurance by connecting businesses with a network of specialist insurance brokers. Here’s how it works:

1. Submit Your Request: Fill out an online form with details about your motor trade business and specific insurance needs.
2. Receive Multiple Quotes: iQuotes forwards your request to relevant brokers who provide competitive quotes tailored to your requirements.
3. Compare and Choose: Review the quotes and select the policy that offers the best coverage for your business.

How iQuotes works

iQuotes is a free quote-request service. We are not an insurer and not a broker, and we do not give advice.

1. Tell us what you need insured: one short form covering the risk, where you are, and when cover needs to start. No paperwork and no account.
2. We pass it to matching brokers: your request goes to Australian brokers who write that class of insurance, and they contact you directly.
3. You deal with whoever you prefer: compare what you are offered and take it up with the broker you choose. The advice and the policy come from them.

There is no cost to you at any stage and no obligation to accept anything you are offered.

Comprehensive Motor Trade Insurance Solutions