What Exactly Is Motor Trade Insurance?

[Yusra]

Motor trade insurance is a type of insurance that covers the risks associated with buying and selling new or used cars, trucks, and other vehicles. It could also cover your workers' compensation claim if you're involved in an accident while operating a vehicle.

In most cases, motor trade insurance covers the cost of damage to your car when it's used for business purposes. You might also be covered if someone steals your car and causes damage to it. This coverage is typically provided by a company called an "insurance broker," but some companies sell motor trade insurance directly.

Motor trade insurance can also protect your business from liability claims if someone is injured in an accident caused by your vehicle.

There are two types of motor trade insurance:

1) Collision Damage Waiver (CDW)

This type of insurance covers your car in the event of an accident with another vehicle or object on the road. It will also cover your car if you hit something on the side of the road, such as a tree or a pole.

2) Comprehensive Protection

This type of motor trade insurance covers all damages to your vehicle caused by fire, flood, theft and vandalism.

 

[LucasWilliam]

Motor trade insurance is a type of insurance designed specifically for businesses that work with or sell vehicles. It provides financial protection in the event of an accident or other covered incident involving a vehicle. Motor trade insurance may be used by businesses such as auto dealerships, repair shops, body shops, and car washes.
Motor trade insurance policies may include a wide range of coverage options, including liability coverage, property coverage, business interruption coverage, employee coverage, and road risks coverage. The specific types of coverage included in a motor trade insurance policy may vary depending on the specific needs and risks of the business.
Motor trade insurance is designed to cover the unique risks and liabilities associated with working with or selling vehicles. It may be used to cover damages to vehicles, equipment, and other property, as well as to protect against liability claims made by customers or other third parties.