Purchasing motor trade insurance is a necessity for motor dealership owners. It helps manage financial loss in business due to unforeseen circumstances. But coverage of garage insurance Liverpool is quite wide, so you need to do some research to find out what covers you need. Since motor trade insurance does not come cheap, it is vital to know some of the top cover available to help you make an informed decision.
Business Interruption – In case your business is affected due to many reasons such as flood, fire or others, the insurance company will offer coverage for a period of about 12 months. Some companies provide a more extended coverage period, as well.
Stock Cover – It protects your stock from any kind of threat. Different stocks have different levels of risks, and the insurance company should be able to provide you information about high theft risks.
Premises Cover – Here, the entire business premises is covered if you own it. But, if you have a rented building, ask your landlord for permission before taking this cover.
Public Liability – If any public member suffers from an injury or a public property is damaged while they are on your business premises, they would be given compensation.
Employers Liability – It is a protection for all the employees in case they are involved in an accident at work and claim damage from you.
Road Risk – It provides cover to all the vehicles of the dealership involved. Whether it is your own vehicle or the customer’s one that you take out for a road test, you need to keep your motor insurance up to date.
Apart from the above, there is other insurance covers too offered by garage insurance Liverpool companies such as Loan and Hire, Engineering Inspection, Accompanied and Unaccompanied Demonstration, and others. You need to ensure that you have adequate coverage so that you can continue your business in peace.