Chidiogo Insurance Agency

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Before you make that extravagant spending these periods, always remember that "Money is a fleeting visitor that arrives with efforts and departs with ease"

MOTOR TRADE

Motor trade insurance is a flexible policy designed for garages, car dealers, individuals, etc. It can be on;

· road risk only,
· premise risk only or,
· combined (road and premise) risks

Also, it can be one-off (applicable to road risk only) or yearly basis.

With the assumption that the client will be taking the combined (road and premise) risks, the short description on motor trade below is given.

Just like the conventional comprehensive motor insurance, motor trade insurance will compensate the insured if;

i. damage or loss is incurred on insured’s stocks (vehicles) as a result of accidental collision or over-turning, fire and theft while the vehicle is driven for delivery (by any named and known driver) and also while on premise of the insured;
ii. legal liability to third parties for death, bodily injury or damage to their property

The policy can also be extended to cover the building (i.e. the premise itself) and contents therein.

Please find attached specimen motor trade policy and questionnaire to be completed by the proposer.

Further to the attached questionnaire, the below are needed (in monetary terms) for quote:

a. Annual turnover
b. Total limit (of all vehicles) that can be on the premise at a given time
c. Limit (highest value vehicle) that can be on the road.
d. Location of the premise and surrounding trades (i.e. proximity to gas station, mining site, fire station, etc.)