Many people owning vehicles are at risk of injury and losses of their possessions. Instead of losing everything they worked for in a minute they can be protected by applying insurance. Companies and other individual must have insurance for their assets in order to acquire compensation resulted from damage.
Motor trade road risk was created to provide coverage to any motor trader who are either working from home or an enterprise. It offers protection of these traders and their vehicles from any unforeseen losses. For one to be compensated he must have the following features
His business must be generating some income
Being a driver he is required to be 25years of age and above
His motor trade business should be authentic
The driver should have a 2 year license
This policy is meant for those who are employed, self-employed or works in a business organization, motor trader who wish to protect their vehicles. Their business should only be related to anything dealing with motor vehicles, either repair or maintenance, of such premises. This policy is essential for motor traders because they have control of customer's vehicles and others which they cannot protect by themselves.
The policy is not expensive to acquire and its procedure is quite simple. Each motor trader can choose the policy that best suits his needs.
The policy has its features and benefits and can provide insurance in 3 levels
Third Party Only
This insurance explains the least legal requirement to be driven by vehicles on any public road. It covers for the third party of any loss and injury that may have been inflicted on them. This does not restrict on passengers only but also other premises damaged as well. One thing to be kept in mind is that one's losses will not be protected except for injured passengers who were involved.
Third Party Fire and Theft
This a like the third party only but it covers for two people, the motor trader and any third party involved. This insurance will cover for any loss incurred for the owner's assets involved in an injury and any third party injured from the trader's vehicle. This insurance best serves events like theft or fire.
It covers the same things as the third party only and the third party fire and theft but has one more benefit. The benefit include compensation for any damage for the trader's vehicles. Example, when the vehicle is taken by a customer for testing and happens to be damaged then this insurance will cover for any repair and maintenance cost required to it.
The policy can be cancelled if a person wishes to do so but one will be deducted some amount for the time heshe received the coverage.
In motor trade risk insurance, there are qualified staff with vast experience who can provide support on 3 levels insurance covers and advice you on the best type of coverage to opt for. Try us for effective insurance services.