Car Dealer Insurance

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Why Compare Car Dealer Insurance Quotes With SimplyQuote?

Running a car dealership can often give you sleepless nights, worrying about the financial loss should something happen at your business premises. Most times, you don’t have endless hours to scroll through insurance policies from multiple insurers, which results in staying with the same old insurance company year after year.

Sound familiar?

Finding cheaper car dealership insurance should provide peace of mind. And this is where SimplyQuote comes in.

We understand how stressful, time-consuming and downright annoying comparing quotes can be; that’s why the online comparison tool is designed to streamline the entire process from start to finish.

In just a few clicks, access multiple insurance cover policies from first-rate UK insurance providers. Finding the best deal can’t be simpler.

What Do You Need To Get A Quote?

Why Do You Need Car Dealer Insurance?

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What Risks Does Car Dealer Insurance Cover?

What Levels Of Car Dealer Insurance Do Motor Traders Need?

What Add-ons Are Available For Car Dealer Insurance?

Car dealers can add a few optional extras to their insurance policy, such as:

Legal expenses cover

This protects you and your business against legal disputes and will pay legal fees you might incur if you go to court or are in a legal battle with a third party.

Demonstration cover

This policy allows potential customers to test drive vehicles, offering protection should something happen when out on the road. This policy is also known as customer liability insurance.

Vehicle transportation cover

If you transport vehicles from one location to another – between multiple dealerships or to and from car auctions – this policy covers your stock vehicles against damage or theft while being transported.

Guaranteed Asset Protection (GAP) cover

GAP insurance is designed to cover the “gap” of what customers owe on their motor vehicle financing payments and the amount insurers are willing to pay out in the event the vehicle is written off or stolen.

However, you need to clarify this with your chosen insurance company as there are discussions that the Financial Conduct Authority (FCA) might ban these policies in the near future.

Personal accident cover

These policies cover you and your employers in the event of injury (or death) from a road accident while operating dealership vehicles.

Money cover

Money cover is a viable option if you accept cash payments at your dealership. It protects cash on your premises in case of theft. However, there are strict procedures to follow for insurers to pay you out, such as keeping cash takings stored in a secure, locked safe.

EU Cover

Let’s say your car dealership is based in Birmingham but some of your clientele reside in France – you’ll need EU cover when transporting and delivering these vehicles across the UK border. While not all dealerships need this type of cover, it’s worth considering if your business involves cross-border transactions or if you frequently transport vehicles outside the United Kingdom.

Voluntary excess

This cover gives you the option to increase your voluntary excess (a.k.a the amount you pay when making a claim) in exchange for lower excess payments.

How Can You Get Cheaper Car Dealer Insurance Rates?

How To Compare Car Dealer Insurance Quotes With SimplyQuote?

Here are nine handy tips to reduce your car dealer insurance premiums:

  1. Compare car sales insurance quotes from numerous insurers to ensure it’s the right insurance for your business needs
  2. Opt for annual payments as opposed to monthly instalments to avoid interest hikes
  3. Select named drivers to operate the vehicles in your dealership
  4. Hire experienced staff and drivers over the age of 25
  5. Providing an accurate valuation of your stock, premises, tools and equipment to keep your insurance costs down
  6. Only include the policy add-ons you need
  7. Ensure your dealership (and vehicles) are properly secured. Install CCTV cameras, burglar bars, security gates and alarm systems.
  8. Pay higher voluntary excess. This is the lump sum you pay if you make a claim.
  9. Keep claims to a minimum.
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Frequently Asked Questions

What is car dealership insurance?

Car dealer insurance is a specific type of motor trade insurance for anyone who owns or runs a new car showroom, second-hand car dealership or a similar vehicle sales business.

Insurance policies can range from large dealerships that employ many staff members and have a substantial amount of stock including high-priced vehicles, to part-time traders, self-employed solo car dealers or hobbyists who spend their spare time fixing up and selling used cars.

Do car dealerships legally need a car dealer insurance policy?

Yes, car dealers legally need car dealership insurance cover. At a minimum, you will need road risk insurance and employers’ liability cover. Public liability insurance is not a legal requirement but is highly recommended.

What insurance do I need to buy and sell cars in the UK?

All car dealers need motor dealer insurance whether full- or part-time. Motor trade insurance policies are tailored to meet the needs of each business in the motor trade industry and offer protection should legal action or accidents occur.