If you run a business in the motor trade whether that is as a car dealer, repair garage, MOT centre or car valeting then you will need to protect your business from a variety of losses, damage and liabilities as well as cover to drive other people’s vehicles. There are a variety of cover levels available in the market, so we have examined what is on offer below.
The table below gives a quick comparison of the top UK providers for motor trade insurance.
| Company | Minimum cover | Maximum cover |
|---|---|---|
| Aviva | Not stated | £250,000 |
| ACE | Not stated | Not stated |
| Allianz | £2 million | £5 million |
| QBE | Not stated | Not stated |
| Covéa | Not stated | £10 million |
| NIG | Not stated | £10 million |
| Acorn Insure | Not stated | Not stated |
| DNA Insurance | Not stated | £10 million |
* The facts and figures included here come from each company’s website and were accurate at the time of writing but may have since changed. Also, please keep in mind these may not be apples to apples comparisons as each provider offers different solutions. This guide should be used as a starting off point for more research on your part.
Below we profile each of the companies’ services and features in a bit more detail.
Note companies are ranked in no particular order and this no way indicates one solution is better than another.
Topics
1. Aviva
Some of the features and benefits of Aviva’s motor trade insurance.
- Large single or multi-location motor trade businesses
- Flexible cover
- All risks cover
- Discount to effect sale
- Loss of use of customer’s vehicle
- New vehicle replacement
- Seasonal increase in vehicles
- Offers a range of optional cover
- Legal protection
- Also offers small motor trade
Aviva is an insurance provider that offers a wide range of business insurance products which includes a variety of motor insurance products such as motor trade insurance. They offer two levels of motor trade insurance which are small business motor trade for those with a maximum of 6 drivers, and large single or multi-location motor trade businesses.
Aviva’s motor trade cover offers all risks cover which includes discount to effect sale, loss of use of customer vehicle, new vehicle replacement and seasonal vehicle increases. They also offer a variety of optional extras which includes road risks, legal cover, income protection and engineering cover.
2. ACE
Some of the features and benefits of ACE’s motor trade insurance.
- Policies for small to large motor trades
- Tailor-made insurance cover
- Simple and straightforward service
- Assists you in getting the right level of cover
- Road risk only cover
- Motor trade combined insurance
- Affordable quotes
- Insurance designed to give you peace of mind
- Covers mechanics, valeting businesses and dealers
- Can include stock, tools and assets
ACE specialises in providing insurance for vehicles and motor-related industries which includes the motor trades and those that need to drive other people’s vehicles. Their motor trade insurance is split into road risk only and combined insurance.
ACE’s road risks only insurance covers those who sell cars from home, mechanics or valet cars as it allows you to drive other people’s vehicles. Motor trade combined insurance caters for larger businesses such as motor dealers, repair garages and MOT centres. This covers damage to property, stock, tools and your assets with the option to cover business interruption, engineering inspection and goods in transit.
3. Allianz
Some of the features and benefits of Allianz’s motor trade insurance.
- Designed for small motor trade businesses
- Covers dealerships and repair shops
- Tailored insurance
- Material damage
- Road risks
- MOT loss of licence
- Business interruption
- Public and products liability
- Employer’s liability
- Commercial legal expenses
Allianz offers a variety of business insurance products which includes a portfolio of motor insurance products such as fleet insurance and motor trade insurance. They offer a complete motor trade insurance product that is suitable for a variety of businesses including dealers and repair shops.
Allianz’s complete motor trade provides a wide range of cover which includes damage and liability cover. Their cover includes material damage for equipment, money and vehicles including seasonal increase in vehicles, road risks to drive other people’s vehicles, and MOT loss of licence. They cover liability for public, product and employer’s liability to protect from claims as well as commercial legal expenses.
4. QBE
Some of the features and benefits of QBE’s motor trade insurance.
- Competitive motor trade cover
- Designed for businesses of all sizes
- Covers traders, garages and MOT centres
- Tailored policies
- Comprehensive and flexible cover
- Will work with you to create a policy that meets your needs
- Motor cover
- Property cover
- General liability protection
- Dedicated team of specialist underwriters
QBE is an international insurance provider that offers a range of business insurance products that are designed for businesses of all sizes. Their insurance range includes motor insurance products which include motor fleet and motor trade insurance products.
QBE’s motor trade insurance caters for a wide range of businesses of all sizes which includes motor traders, repair garages and MOT centres. Their policies can be comprehensive and flexible as their dedicated team of specialist underwriters will tailor the cover to meet your needs. They offer cover that can cover motors, property and general liabilities to protect you from claims from the public.
5. Covea
Some of the features and benefits of Covea’s motor trade insurance.
- Offers two levels
- Motor Trade Road Risks
- Motor Trade Internal Risks
- Covers businesses from home or business premises
- Choice of cover level
- Public and product liability cover up to £5 million
- Employer’s liability up to £10 million
- Flexible indemnity limits
- Covers up to 6 named drivers
- Can cover buildings, contents and money
Covea offers business insurance products that can be purchased through their e-portal if you are a small business or through an independent broker. Their product range includes a variety of motor insurance products such as Motor Trade Internal Risks and Motor Trade Road Risks.
Covea’s Motor Trade Internal Risks provides cover for up to 6 named drivers, public and products liability up to £5 million, vehicle stock, buildings, contents, money and business interruption. You can add employer’s liability up to £10 million. Their Motor Trade Road Risks insurance covers up to 6 named drivers and a choice of cover – comprehensive, third party fire and theft, and third party only.
6. NIG
Some of the features and benefits of NIG’s motor trade insurance.
- Designed specifically for the motor trade
- Flexible cover
- Material damage all risks
- Public and employer’s liability
- Road risks cover
- Goods in transit
- Loss of business money
- Defective workmanship/sales indemnity
- Embedded engineering cover
- Legal expenses
NIG is an insurance provider that offers a variety of business insurance products which have been created to meet the needs of specific industries and professions. They provide tailored packages of cover which include motor insurance such as mini fleet and motor trade insurance.
NIG’s Motor Trade insurance offers a range of standard cover including material damage all risks, public and employer’s liability up to £10 million, road risks cover, goods in transit, loss of business money, defective workmanship/sales indemnity, embedded engineering cover, legal expenses, and business interruption, personal accident including assault. They also offer optional covers such as MOT loss of licence, loan and hire.
7. Acorn Insurance
Some of the features and benefits of Acorn Insurance’s motor trade insurance.
- Insurance to protect your reputation, equipment and business
- Competitive insurance
- Tailored cover
- Will consider all circumstances
- Quick and easy quotes
- Covers dealers, MOT test centres and garages
- Choice of cover
- Windscreen cover
- 24/7 accident and claims helpline
- UK based service
Acorn Insurance is an insurance provider that offers a range of specialist insurance products that have been designed specifically for businesses that require motor insurance and their range includes a variety of vehicle types and motor trade businesses.
Acorn Insurance’s motor trade insurance provides protection for your reputation, equipment and business with a tailored cover that is competitive, and they will consider all circumstances. Their cover includes a choice of comprehensive, third party fire and theft, and third party only as well as windscreen cover and 24/7 accident and claims helpline. They offer optional cover of key care and public liability insurance. They also offer Motor Trade Road Risk only.
8. DNA Insurance
Some of the features and benefits of DNA Insurance’s motor trade insurance.
- Flexible insurance
- Tailored cover depending on your needs
- Varying levels of indemnity
- Immediate cover available
- Flexible payment options
- Legal expenses
- Optional cover
- Employer’s liability
- Public liability up to £10 million
- 24-hour claims helpline
DNA Insurance is an insurance provider that offers a variety of business insurance products and they specialise in providing motoring insurance products for a variety of vehicles, fleets and motor trade insurance. They are UK based and operate their call centre in the UK.
DNA Insurance’s motor trade insurance offers tailor cover with varying levels of indemnity which includes basic cover and legal expenses with flexible payment options. You can combine your premises and vehicle cover. They also offer optional extras which include employer’s liability, public liability up to £10 million, protected no claims bonus, excess buyback, windscreen cover, breakdown and gadgets.