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You might have heard of Public Liability Insurance. This covers businesses that deal with the general public against claims made by a person who has suffered an accident or injury as a result of their interaction with the business or sustained it on your premises, such as tripping in a shop.

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In a similar vein, businesses that have vehicles among their assets can take out Motor Trade Insurance to protect them from claims from the public or indeed from employees. Businesses in the motor industry should also consider Employer’s Liability cover against claims from injury whilst at work and also Sales and Service Indemnity, which protects against damage or injury caused by a used car. If used car sales or servicing is your sector, then this sort of insurance is vital. The term ‘motor trade liability’ covers a whole raft of specifics relating to the industry.

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How much your premium will cost will depend on a variety of factors, including the cost of repairing or replacing the vehicles, whether a claim has been made before, and if so for how much, and the age of the driver(s) among other things.

The Money Advice Service goes into more detail about what constitutes insurance. If you have specific questions about taking out motor trade liability cover, speak to specialists like https://www.quotemetoday.co.uk/motor-trade-insurance, who will be able to talk you through specifics relating to your business.

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Value for Money

Insurance is one of those instances where the lowest price does not necessarily equate to the best value. The key is to get the right cover for your business circumstances and then to find that at the best price. Compare the basic policies quoted to you and what is considered an extra to allow you to compare like for like, and also so you are absolutely confident in what is covered by your premium.

Be sure to read the small print: any inaccuracies could invalidate your policy. Whilst it might be tempting to use an insurance calculator, they might not be able to compare the intricacies of the policies. Although it can be quite time-consuming, a manual comparison is the best way to get the right deal for you. Don’t forget to take into account any discounts or special offers.