For those looking for the baseline of coverage, road risk only motor insurance can be a handy alternative.
These policies are the bare minimum that your motor trade business needs to legally operate on the UK’s roads. They will protect any vehicles involved in your operations, including those being sold, prepared for sale or delivery, and those being delivered to clients.
Much like standard motor insurance, Road Risk Only motor trade insurance is divided into three main brackets:
- Third Party Only – Third party insurance is the minimum legal requirement to drive a vehicle on the road and covers any costs you might incur should a vehicle in your care cause damage to someone else’s property. It won’t, however, cover the cost of damage to your own vehicle should you be involved in an accident where you’re at fault or where there’s no third party to claim from.
- Third Party, Fire and Theft (TPFT) – One step above Third Party Only policies, TPFT policies provide additional cover against costs associated with fire damage or theft of vehicles under your care. A TPFT policy still won’t offer any cover against accidents where you’re at fault or where there’s no third party to claim against.
- Comprehensive cover – Comprehensive policies are often the go-to option, as they offer complete protection for your vehicle. They offer all the protections of a TPFT policy but also cover the cost of your vehicle even if you’re involved in an accident where you’re at fault.
Our cover options are completely flexible, and you can tailor your cover to match your needs with a number of policy extensions including test drive cover, windscreen cover, vehicle transit cover, trailer cover, protection for your no claims bonus, and cover for vehicle stock while in storage.