not familiar with this type of cover, a motor trade policy can provide protection for several different areas of your company. It doesn't matter if you considered a small time business with only a few employees or a large corporation with hundreds of them. The goal is to make sure the company is protected in every way possible. However, you have to get a better understanding of this type of insurance to figure out whether or not you need it.
What if you own a Small Business?
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Obviously motor trade cover revolves around vehicles and other type of work involving them. The best example for small business purposes is a repair shop. Everyday you have customers come to your place of business in order to get repairs or preventative maintenance done. This type of policy is important for you, because it keeps the clients, the employees, the premises, the vehicles and even the tools and machinery protected.
The day-to-day operations can eventually take their toll on the tools and equipment that is used. Take for instance the repair shop that utilises a lift in order to get underneath the vehicle. What happens if this breaks down? Do you have the money to get it fixed? How much business will you lose while it is out of commission? These are all great questions, and in order to overcome them you need insurance that will provide help.
Why would Larger Companies need them?
A lot of bigger businesses don't understand why this type of policy should be purchased. Most of these types of companies are either dealers or manufacturers. There is a huge need to keep the lines constantly moving. If you have vehicles delivered from one area to another, you definitely don't want to transporters falling apart in transit. Then again you also have to consider the vast amount of employees and customers that are on the property every day.
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