What type of cover do I need to operate from home?
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Generally speaking there are two main types of motor trade insurance, road risk and combined. Road risks insurance is the legal minimum level of cover required and will typically provide cover for motor traders operating from home. As the name suggests, road risk insurance covers the road elements of a motor trader’s operations only and therefore does not cover your home premises or contents.
Much like a standard car insurance policy, road risk insurance falls into three brackets, third party only, third party fire and theft, and comprehensive. Third party only is the absolute minimum level of cover required by law for businesses dealing in vehicle sales, repairs or maintenance.
If you then require additional cover for example employer’s liability insurance, this can be added on to your policy.
Alternatively, you may find a combined motor traders insurance policy is better suited to your business. A combined policy can also include cover for your premises, even if you work from home, tools, vehicle stock, equipment and more.
If you are unsure, it is best to ask for advice from any of the insurance providers you speak to when arranging your quotes.