Motor Trade Insurance in Northamptonshire
Organising insurance for the Motor Trade is pretty complicated, it can be confusing to try and understand the different levels and types of cover available and particularly what you need in place.
With over 40 years of experience planning, organising and managing insurance packages for the Motor Trade, gsi insurance have relationships and facilities with most of the main Motor Trade insurers. You will be assigned your own dedicated account handler who will be your day to day contact, ensuring you have exactly the right, bespoke policies for your businesses needs.
Tailored Insurance Quotations for the Motor Trade
Customer Service is at the very heart of the gsi insurance business ethos and your account handler will be responsible for planning your policies, organising your premiums and even assisting and supporting you in the event of a claim.
Free MID Vehicle Updates
The Motor Insurance Database (MID) must be kept up to date to comply with Motor Insurance Bureau legislation, as your broker, gsi insurance are able to keep this updated on your behalf without any further charge.
There are three levels of Motor Trade Road risk insurance cover available:
Third-Party Only
This is the minimum legal requirement by law and covers you against any loss or damage that you may cause to others.
Third-Party Fire & Theft
Third-party fire and theft also protects you if your vehicle is stolen or subject to a fire, this is in addition to Third Party Only cover.
Comprehensive Cover
Comprehensive cover is the same as third-party fire and theft, but additionally, the cover also includes damage to your own vehicle.
Road Risk Indemnity Level
This is the maximum amount of money that your insurers will pay out in the event of a claim. It’s important to remember though, that this will often only be for the trade value of your vehicles and not the retail value.
In some instances, it is possible to split the indemnity (for example £10,000 for trade vehicles and £15,000 for your own vehicles) or even allow for retail value on your own vehicles.
Vehicle Stock Insurance
Cover for your own vehicle stock and also customer’s vehicles.
Employers Liability
If you employ somebody you are legally required by law to take out an Employers Liability insurance policy. This covers you and the business should an employee decide to take legal action against you for whatever reason.
Public Liability
Public Liability Insurance covers you should a member of the public decides to bring legal action against you or your company, often if they suffer a loss due to the negligence of you, your employees or your business.
Products Liability
If you sell products to the public then you have a responsibility to ensure they are safe. This cover protects you if a customer suffers a loss and decides to take legal action against you or your business.
Business Interruption
When a business makes a claim, it’s usually because it has suffered some kind of loss and in these instances it’s easy to forget just how much time and effort goes into putting those things right again. Business Interruption cover can be included in your insurance package to make sure you are covered for any loss in profit you experience during the time spent dealing with an interruption of this nature.
Money Cover
If you keep sums of cash on your premises, or in transit (to and from the bank for example), Money Cover insures against loss and theft.
Shop Front Cover
Insurance to cover you against damage to your ‘shop front’ and/or glass. Cover can also be extended to include internal glass and frames if required.
Contents Insurance
Should your premises be broken into, catch on fire or damaged, Contents Insurance covers you for any losses from within the premises, such as (but not restricted to) furniture, computers, electrical equipment and more.
Buildings Insurance
Buildings Insurance is to cover the costs for rebuilding or repairing the physical structure of your business premises.
Goods & Vehicles in Transit Insurance
Goods in Transit Insurance covers your business against the damage or loss of any goods that are being transported from one place to another, various levels of insurance cover are available depending on the nature of how those goods are transported and their value.
Personal Accident and Assault
Provide cover for your Proprietor, Directors and Employees in the event of death or injury while carrying out their duties on the premises or as a result of a theft or attempted theft.
Tools and Machinery Cover
Protect yourself against loss, damage or theft of your power and/or hand tools.