It is common knowledge, that to be able to drive legally on the roads in Britain, you must have car insurance. Anybody who drives a car is more than well aware of the legal stipulations of being insured, and more importantly, what can happen if we are not.
There is a lot of information and public notices about general car insurance, however the area of motor insurance for businesses are entirely different matter.
Motor trade insurance is a vital component for any motor related business to trade legally. Trade insurance is a specialised policy specifically for businesses in the motor trade industry. This can range from mechanics to car dealers and tradesmen to name but a few.
The general requirement for this type of insurance is anybody who uses a vehicle for work/business purposes. Driving a vehicle for work purposes under a private usage policy is illegal.
There are three main types of motor trade insurance; these are:
• Road Risk Insurance;
• Liability Insurance; and
• Combined Insurance.
Road Risk Insurance:
This is the lowest band trader insurance and is a minimum requirement in order for a business to trade legally.
Liability Insurance:
This particular level of insurance is vital if a business has employees, as this covers them also.
Combined Insurance:
This type of insurance covers both road risk and liability insurance.
For more detailed information regarding the different levels of insurance available, and which one is right for you contact a reputable motor trade insurance provider and be sure to tell them your exact requirements.
Erin Ryan is a freelance writer on behalf of And Insure Motor Trade Insurance
Article Source: http://EzineArticles.com/?expert=Erin_M_Ryan
Find More : motor insurance , Motor trade insurance , type of insurance
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