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Created for anyone running a motorcycle business, specialist insurance for the motorbike trade gives you peace of mind that your business is sufficiently protected, should anything go wrong.
Motorcycle trader insurance is geared for businesses such as:
With insurance in place, your business is protected from financial losses if you need to make a claim, or if a claim is made against you.
If your stock of motorbikes or motorcycling equipment is stolen or becomes damaged, for example, with the right insurance policy, you'll be covered. Similarly, if someone takes your business to court, your policy can cover your legal fees and any compensation that needs to be paid.
Without motorcycle trader's cover, on the other hand, you will need to meet costs yourself if there is an accident or incident.
Depending on the type of motorbike business you run, some types of trade insurance may be a legal requirement for you.
You'll need employee liability cover if you employ staff, by law. You'll also need road risk insurance if you or your staff will be operating motorbikes belonging to customers. Again, this is a legal necessity.
Others types of cover will be optional but can offer your business a lifeline in unforeseen circumstances, which may allow you to avoid disastrous financial losses after an event like a burglary, fire or flood. An appropriate level of insurance cover offers peace of mind that your business will be supported to get back on its feet quickly.
Like other types of motor trade insurance, you can create a bundle of different insurance features to build the with motorbike trade insurance policy that reflects your business needs.
The level of cover that your business needs will depend on your specific circumstances, your business activities and how extensive you want your insurance coverage to be.
Two types of insurance have statutory minimums for the motor trade industry, they are:
Additional insurance cover is optional, but having sufficient coverage can be critical for some motorbike trade businesses.
It's a good idea to estimate the value of the items you plan to insure and reflect this in the total amount of cover you take out. This is sometimes called the sum insured or the indemnity level.
Your policyholder may determine the indemnity level, but you'll need to provide accurate figures from your data.
Motor trade cover can be scaled up to reflect the needs of your business, so your motorcycle trade policy might cost a different sum to another bike business.
Because of this, it's difficult to estimate an average cost, but as with most types of insurance, there are some common ways to push the cost of your premiums down. You can encourage cheaper rates by:
The best way to find cheaper deals for your motorbike trade insurance is by using Utility Saving Expert to compare policies at competitive prices from a wide range of insurance providers.
Input some details about your business and insurance needs at UtilitySavingExpert.com and we will automatically generate the best value insurance cover for you to choose from.