Is Motor Trade Insurance Expensive For A Part-Time Hobbyist?
Nearly 20% of our customers are part-time motor traders. Having given a decent number of motor trade policies exclusively to part-time enthusiasts such as yourself, we are aware of what you need. In fact, we offer a part time motor trade insurance designed just for you.
As a hobbyist, you don’t need a team of professionals and work on customer vehicles in your free time. Whether you make repairs, refurbish old cars and sell them or operate a detailing and valeting service in your own time, we can customize a motor trade policy to suit your exact nature of vocation.
Our plans start with the basic third party road risk only cover, which should suffice in most cases. However, if you buy and sell cars in your free time, then you may need a demonstration cover and probably even a comprehensive road risk policy. Again, your requirement will depend heavily on the level of involvement in the motor trade industry and the nature of your business.
Nevertheless, you do not need large indemnity and can opt for a higher excess, thus reducing the cost of insurance. You can do without employers liability and public liability since you mostly work from home. In some cases, you may not even need a content and tools cover. Honestly speaking, all you need as a part time motor trader is the essential third party only road risk insurance. Anything beyond that is purely optional since your involvement, and hence your risks are highly limited, unlike someone who looks at it as a profession.
Is motor trade insurance expensive if you decide to make it your profession?
No, it is not. You can continue with a part time motor trade insurance for a few months while setting up your garage, hiring employees, and purchasing tools and machinery. When the time is right, and you can afford the higher cost of a comprehensive traders insurance, we will advise additional riders and covers on your existing traders policy.