Part-time Motor Trade Insurance: What You Need to Know

The essence of the part-time motor trade insurance is lodged in the fact that it basically provides you the full protection of a regular motor trade insurance policy with acknowledgement that you are only in the trade in a part-time basis. The insurance typically covers the premises and vehicles, tools, equipment, and stock. Here’s what you need to know about this type of insurance.

What does a part-time motor trade insurance cover?

Relatively, this type of insurance also works similarly as that of its full time counterpart. It consists of the same insurance level that provides you with protections to keep your business at bay even when faced with difficult situations. Hence, even if you are just working in the motor industry for a particular time in a week, you can still avail of the minimum coverage for third party issues like fire, theft, and risk.

Most part-time motor trade businesses operate remotely from home so that insurance on premises may not be covered in the part-time policy. Unless, of course, if you want to add it to your coverage. The basic and most important features that you should look for must include road risks, public liability, protection of tools and employer’s liability.

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How do you qualify for the part-time motor trade insurance?

To qualify for this insurance coverage, you need an established proof as to the operation of your part-time business for profit. Some of the evidences that you can submit include sales invoices, official receipts, and other documents stating that you have received money from a customer. However, if you are offering your services to family and friends for free, you may not be able to qualify for this insurance policy type.

What can be added to the part-time motor trade insurance policy?

As a part-time business owner, you need to have a more flexible policy than that of the full-time platform. In fact, you can use your business vehicle for your personal meet-ups, too. In this case, however, you need to add this feature to the existing policy. The key here is to look for a flexible insurance broker who can help you in assessing the overall situation so that every essential part can be covered.

If you are looking for cheap part time motor trade insurance, then you should be open for every opportunity and possibility. Do your own research and don’t hesitate to ask around for information. After all, it’s always worth doing your own thorough investigation, especially when money is involved.