Anyone who wishes to work on vehicles that are not registered in their name will need road risks insurance. Road risk is the most basic form of traders insurance you can get, and the law mandates it. In short, you should not drive or operate on customer vehicles without road risks insurance.
When Do You Need Road Risk Insurance?
You need road risk insurance if you run your motor trade business from your home, backyard or any space in your residential area. It does not matter what kind of motor trade service you provide.
You can work as a part-time mechanic from your home’s garage. You may even buy and sell cars online, store your inventory at your home or simply clean customer vehicles as a means of second income. The bottom line is that if you handle customer cars, do not have a registered business address but operate from your home – you must get road risk insurance.
Unlike many other brokers, we don’t deal with just a handful of underwriters but instead talk with the top performers in the market. Our goal is to get you the cheapest possible road risk insurance*, so you can take additional covers and extras to improve your indemnity and protection better.
Here at Insurance Partnership, we understand every business is different and needs varying degree of cover. When you contact us, you receive a quotation inclusive of all covers and extras that your particular business requires to stay healthy and active even through the toughest of times. Insurance Partnership provides bespoke road risk insurance!
Depending on the kind of coverage you need, we can provide you with three basic levels of road risk insurance. Remember that each successive cover will cost you more but will include greater indemnity and protection.
A road risk policy is valid for any named driver and vehicle that is registered in the Motor Insurance Database or MID. This policy will not cover vehicles that are personally registered to any of the named drivers or vehicles that you need to carry out your motor trade business. Furthermore, it does not include employer liability, public liability or other such necessary insurance to operate a full-fledged business in the UK.
Don’t Forget To Update the MID
To ensure your road risk insurance is always valid, make sure that all customer vehicles in your possession are immediately added to the MID and only named drivers are allowed to work on the cars.
We offer a simple and efficient solution to updating the MID. You can give us a call or drop a mail with all the vehicles to add or remove from the MID (phone calls are quicker but emails work just as well). Let us handle the paperwork and processing while you concentrate on growing your business.
We do not personally underwrite insurance contracts so why should you deal with us? An entirely legitimate concern but let us share some light on how the motor trade insurance industry operates. Each insurer weighs the risks and prepares a different quotation for you, which will not be the same as the next insurer. To find the cheapest insurer offering you the best package, it will take a lot of research, interpretation, and comparison.
Bespoke Policies Are Our Specialty
Give us a call today or request a quotation online to get a fully customized road risk insurance.
On the other hand, we speak with multiple underwriters at once, on your behalf, sourcing the best quotations at the lowest possible prices. What would otherwise take you days, if not weeks, takes us 24 working hours at most. We shortlist the best quotations geared to your exact requirements.