If your motor trade business is part time, you probably work at another job on the side. If this is the case, you may well benefit from being able to use your part-time motor trade policy to provide cover for vehicles when you are using them in your other occupation. The relevant cover is known as Additional Business Use and is available for people who have an existing part-time motor trade policy.
About part-time motor trade insurance
This type of insurance has been designed specifically for part-time traders. This typically refers to people who also have another occupation, but it can also be used by retired people who have decided to carry out their motor trade business as a part-time job.
Will my motor trade policy include additional business use automatically?
If you require additional business use, you will have to ask your insurer to add it on. This is one of the reasons it is important to use a reputable company. According to The Independent, there are frequently inconsistencies on insurance price comparison sites, so it is easy to be confused about exactly what cover you are getting. Naturally, it is important to add any vehicles you intend to use for your second occupation to your policy.
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Can any occupation be covered by additional business use?
No. Although many jobs can be covered, not all are eligible, so it is always wise to check your specific policy. It is a good idea to ask about your eligibility early in the process of obtaining a quote. This can be done quite simply by going to sites like https://www.quotemetoday.co.uk/motor-trade-insurance.
Is additional business use affordable?
Adding this option to your insurance policy is usually reasonably cheap and is often much more affordable than having to take out a separate policy for your other job. It can work out to be as little as five percent of the overall cost of your part-time motor trade policy.
Other products you can link to your motor trade policy
Besides additional business use, you might like to consider adding another product, such as product liability or goods in transit, that could protect your motor trade business further. What you need will depend on your individual circumstances, and your broker will be happy to help you sort through the options.
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