Part-Time Motor Trade Insurance
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Why Compare Part-Time Traders Insurance Quotes With SimplyQuote?
If you want to save money on your part-time motor trade insurance, the quickest and easiest way to do so is to have SimplyQuote on your side.
We understand working as a part-time motor trader or vehicle mechanic can be tough, especially when it’s your sideline business. That’s why the free, online comparison tool is here to streamline the process for you.
Forget the time-consuming process of comparing multiple part-time motor traders’ insurance and opt for the easy solution. Try out the online comparison tool today!
What Do You Need To Get A Part-Time Motor Trade Insurance Quote?
SimplyQuote requires the following information before we can provide you with a part-time insurance quote:
- Personal details – name, surname, UK address
- Business details – business address, company registration information, nature of your motor trade services (e.g. motor trader, classic car restorer, mechanic, valet, etc.)
- Employee details (including all drivers) – name(s), UK/EU driving licence, age(s)
- Policy details – what type of cover are you interested in
Note: Most insurance providers require drivers to be at least 23 years old.
Why Do You Need Part-Time Motor Vehicle Trade Insurance?
You need a motor trade insurance policy if you work part-time for a motor trade business or sell vehicles part-time.
This kind of vehicle trade insurance is ideal for those who already have a full-time job (or are retired) and dabble in the motor trade business as a sideline venture. For instance, you’re a part-time mechanic, valet or motor trader on weekends.
This is where part-time motor trade insurance comes in handy.
Note: Part-time motor trade insurance is also referred to as ‘part-time traders’ insurance’.
Which part-time traders need this type of insurance cover?
- Part-time motor trader (i.e. buying and selling cars)
- Part-time mechanic
- Part-time body shop (including tyre fitters, telematic installers, aircon technicians, etc.)
- Part-time valets and car jockeys
- Part-time vehicle recovery services
Basically, any business operating in the motor trade industry on a part-time basis needs this type of motor trade policy.
What are the benefits of a part-time motor trade insurance policy?
- Easy to get
- Get the right cover you need
- Save money on monthly/annual premiums
- Tailor your insurance to match your motor trade business (i.e. flexibility)
- Avoid unnecessary cover (as seen with full motor trade insurance policies)
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What Does Part-Time Motor Trade Insurance Cover?
Part-time motor trade insurance offers a wide range of cover for those operating in the motor trade sector.
At a minimum, you must have road risk insurance cover so you can legally drive vehicles you do not own. Additionally, employers liability cover is a legal requirement if you have more than one employee.
You can mix and match different types of part-time motor trade insurance to best suit your business type.
What’s covered
- Employer’s liability cover: This is required by UK law but only applies if you employ more than one employee, whether they’re full-time, part-time or casual workers. It protects you against employee claims should a worker become ill or sustain injuries whilst on duty.
- Public liability cover: This is not a legal requirement but is highly advised to have. This type of cover protects you/your business against third-party claims in the event a member of the public is injured or their property is damaged.
- Product liability: This covers compensation costs if you fit faulty parts that cause an accident.
- Road risk insurance: This is a legal requirement that everyone in the motor trade industry needs when driving vehicles they do not own (i.e. customer vehicles). This applies to both full- and part-time motor traders, even if you are only driving the vehicle(s) a short distance.
- Premises cover: Apart from insuring you and the vehicles in your care, consider premises cover to protect your commercial building, office, workshop or storage units. It offers protection against unforeseen events like flooding, fires, burglary, theft and vandalism.
- Contents cover: This goes hand-in-hand with premises cover and covers interior equipment and furnishings like printers, laptops, electronics and office furniture in the event of burglary or natural disasters.
Note: Some of these policies are not standard and may be charged as optional extras.
What’s not covered by part-time motor trade insurance?
- Goods in transit
- Personal belongings
- Uninsured/unnamed drivers
- Damaged due to negligence
- General vehicle wear and tear, such as brake pads and tyres
- Damages caused by driving under the influence of alcohol or drugs
What Levels Of Part-Time Motor Trade Insurance Are Available?
Part-time trader insurance includes everything that a standard private car policy would, with the option of three levels of insurance to choose from:
Third-party only (TPO)
TPO is the lowest level you can opt for and forms part of UK motor trade law.
It’s there to protect any third party involved in an accident that was the fault of the policyholder. If you cause a vehicle accident that damages someone else’s car or property, your insurance provider will pay any third-party costs.
It does not cover damages to your vehicles, employees or property.
Third-party, fire and theft (TPFT)
This type of insurance offers an extended version of the third-party-only cover, including compensation for damages caused to your personal vehicles by fire or theft.
This level of insurance does not cover repair costs should your vehicle be involved in an accident.
Fully comprehensive cover
This policy covers the widest range of motor trade insurance, combining both TPO and TPFT, with added benefits. A comprehensive insurance policy covers all damage to your vehicle and a third party if you are involved in an accident that was your fault. As a part-time trader, having a comprehensive policy means you can drive any vehicle whilst it is in your possession, including a customer’s car.
What Insurance Add-Ons Are Available For Your Part-Time Motor Trade Business?
There are several add-ons you can include on your part-time motor traders insurance policy, such as goods in transit or demonstration cover – amongst others.
Part-time motor traders can take advantage of as many optional extras that align with their day-to-day operations, or you can opt for the bare minimum of road risk insurance cover as seen in standard plans.
- Goods in transit cover – protects goods in your vehicles while on the road (e.g. tools, equipment)
- SORN cover – you need this cover added to your policy if you store statutory off-road notification vehicles.
- Commercial property cover – can be added to your part-time motor trader insurance policy.
- Contents cover – covers the contents of your business properties.
- Cover for all vehicles – allows any employees to drive vehicles left in your care.
- Cover for personal vehicles – if you use commercial vehicles for personal use.
- Refurb and restoration cover – protect vehicles you’re restoring against accidental damage or theft.
- Demonstration cover – applies to part-time motor traders and allows customers to test drive the vehicles.
- Combined liability cover – ensures you tick all the liability compliance boxes, offering an extended version of basic road risk cover. It includes TPO, TPFT and comprehensive cover as well as leased or owned buildings and content insurance. However, you must confirm these details with your insurer.
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How Much Does Part-Time Motor Trade Insurance Cost?
Part-time motor traders can get basic motor trade insurance for as little as £39.25 per month.
However, the final price is determined by your insurance provider, including the level of cover you opt for, how secure vehicles are overnight and your claims history.
What impacts part-time motor traders’ insurance prices?
- Your chosen level of cover (TPO, TPFT, comprehensive)
- The nature of your business operations
- Your UK location
- The type of vehicles you deal with – including make, model and estimated replacement value
- How secure your vehicles (and business properties) are when not in use
- Age of drivers
- Claims history
How Can You Reduce Your Part-Time Traders Insurance Premiums?
Here are a few ways to lower your part-time traders’ insurance premiums:
- Only choose the level of cover you need to avoid unnecessary expenses.
- Shop around to find the best part-time motor trade insurance that aligns with your needs.
- Hire experienced teams (including drivers with clean records and over the age of 25).
- Ensure vehicles are secure in a lock-up garage when not in use.
- Ensure business premises are secure with locks, alarm systems, CCTV cameras and burglar bars.
- Increase your voluntary excess.
- Opt for annual payments upfront as opposed to monthly instalments.
- Keep claims to a minimum.
How To Compare Part-Time Motor Trade Insurance Quotes With SimplyQuote?
- Fill in the quick form: Tell us about yourself, the nature of your work and your location.
- Select the cover you want: Choose your level of cover and any additional add-ons.
- Compare quotes: Use SimplyQuote’s tool comparison tool to compare multiple insurance quotes from first-rate UK insurance providers within minutes.
- Save cash: Get the best deal and experience cost savings like never before!
Frequently Asked Questions
Part-time motor trader insurance is a type of business insurance required by anybody who works part-time in the motor trade industry. For example, if you work evenings or weekends as a mechanic or car dealer, you should look into this type of insurance.
While part-time traders’ insurance is not required by UK law, there are elements of mandatory cover you will need, such as road risk and third-party cover.
Public liability cover is not a legal requirement for part-time motor traders but it is advised to add this kind of cover to your policy. It protects you against third-party claims should someone sustain injuries on your business property or if you damage third-party property.
Without it, you are liable to foot the bill.
Part-time traders can add as many optional extras as they like, provided they are aligned with the nature of your business. To avoid unnecessary expenses, we advise you only choose the add-ons you really need.