Car Transporter Insurance

Moving vehicles, such as cars, vans, and more, means you or your employees spend a lot of time on the road. That means you’re at higher risk for being in an accident. In addition, thieves sometimes target trucks carrying vehicles. It’s even possible a member of the public could be injured when vehicles are being loaded or unloaded. Even the safest company has occasional accidents.

What would happen if a claim was brought against your company? Does your business have funds on hand to cover even one claim? If you don’t have the right insurance policy, a claim for thousands of pounds (or more) could close your business.

With so many risks, it’s imperative to protect your business and employees. Protect your company today with car transporter insurance. You’ll have peace of mind that you’re protected from industry-related risks.

There are basically three levels of car transporter insurance:

Third-party only: this policy offers protection for claims made by third parties in case they are injured or suffer property damage caused by your business operations. This is the lowest level of insurance you’re legally required to have. This policy does not protect your truck or your injuries in case you’re in an accident.

Third-party, fire & theft: includes the same coverage above but also includes protection for your truck in case it is damaged by fire or theft. It doesn’t protect your vehicle or you in case you’re in an accident. In that case, you are responsible for paying any claims, repairs for your vehicle, and your injuries.

Comprehensive: This policy includes all of the above and protects you and your vehicle. It will pay for repairs or replacement of your vehicle, your injuries, and for other vehicles in case you’re involved in an accident. A comprehensive policy is the highest level of coverage you can get.

These policies are available for car transport businesses of all sizes and can protect one truck or an entire fleet.

Car transporter insurance is a motor trades insurance policy that can be customized to fit your business. That means you won’t have to pay for services or coverage you don’t need. With a customized insurance policy, you only pay for the coverage your business needs. You can choose the best options you’re your business and create a bespoke insurance package that covers your company’s needs.

Each insurance package is therefore different; however, some features of each policy are similar. Then there are other conditions that may be different such as exclusions, excesses, and more.

Most car transporter insurance policies can include the following (this varies by insurance provider):

Business interruption insurance: offers financial support when your business is unable to operate due to closure and loss of income from unexpected events beyond your control.

Business premises cover: protects your office, yards, garages/units against fires, floods, and vandalism. Some also include contents cover (or you can purchase this separately) that covers computers, office equipment, and even cash stored on the premises.

Car storage insurance: this protection is beneficial if you store vehicles before transporting them or if they need to be stored somewhere during the transport process. This protection also the goods if they’re stolen or damaged while being stored.

Goods in transit insurance: protects your business against loss or damage of goods that may occur to the cars being transported. This is also sometimes referred to as freight liability coverage.

Loading & unloading insurance: protects vehicles against damage when they’re being loaded or unloaded from the truck (or other means of transport being used).

Own goods cover: replaces items owned and used by your business, such as straps, ropes, and more if they are damaged, destroyed, or stolen.

Personal items insurance: provides protection for the driver’s personal items during transport, such as if their mobile phone is damaged or stolen during their work.

Road risk insurance: offers protection when you and your employees drive vehicles that aren’t yours. If you operate the customer’s cars during business activities, this insurance is required by law.

Vehicle transportation liability insurance: includes public liability that covers accidents that may happen to a member of the public. Employers’ liability is also included, which offers protection for employees in case they’re injured, become ill, or die while on the job (employers’ liability is required by law if you have one or more employees).

Each insurer uses several factors to determine your insurance premium. While the factors may be the same, individual insurance providers use their own criteria to weigh the risk factors they use to calculate your premium.

The most common factors that insurers review when figuring an insurance premium include:

• Your business name and address
• Your excess
• Cover type, whether it is comprehensive, third-party only, third-party, fire & theft
• Renewal date
• Insurer’s name
• The number of vehicles you have insured
• The number of claims your business has had
• The amount paid out in claims and set aside for unsettled claims

Yes! There are a number of things you can do that may (or may not) lower your premium. Remember, each insurance provider uses its own criteria to calculate your premium. Even so, here are some things that might help lower your premium:

Pay higher voluntary excess: this is the amount you’re required to pay if you make a claim on your insurance. It is possible to set the premium to zero; however, the more you agree to pay voluntarily, the lower your premium will be.

Choosing your policies carefully: as noted earlier, car transport insurance coverage can be customized to fit your specific business needs. That means you must carefully choose the policies that your business needs. Avoid paying for anything that doesn’t apply to your company. Doing so can lower your premium.

Steps to ensure safety & security: another step you can take is to ensure your vehicles are safely stored with security measures that deter thieves. This may include the installation of CCTV and high-security locking systems, which protect your vehicles against vandalism and theft.

Select named drivers carefully: ensure that each named driver is reliable, experienced, and obeys traffic rules. In addition, choose drivers over age 25; younger drivers are often seen as a higher risk.

5. Pay annually: Many insurers may also lower your premium if you choose to pay annually rather than monthly or pay-as-you-go. The reason is that paying annually helps keep down the insurance provider’s administrative costs.
6. Comparison shop: in addition to the steps above, you can also comparison shop for the right car transport insurance policy and premium. While it’s possible to do online research or call different insurers, you can also get fast quotes directly on our website! We make it easy and fast to compare insurance policies and premiums in only minutes!

No matter the size of your car transport business, you can use MyMoneyComparion.com to help you compare car transporter insurance policies. We make it fast and easy to compare quotes in only a few minutes! The quotes come from our highly esteemed car transporter insurance brokers, who are happy to help you find the right policy and premium for your business.

All you need to do is fill out a simple form, hit “Enter,” and wait for our insurance partners to send their quotes to you. Take your time to review the policies and the premiums. And if you have any questions, we recommend contacting the specific insurance provider. They will help you with any questions and ensure you receive the right policy and an affordable premium for your business.

The Institute of the Motor Industry Website

Retail Motor Trade Federation – The Retail Motor Industry Federation (RMI) is the UK’s leading automotive trade body, representing franchised car and commercial vehicle dealers, independent garages, bodyshops, motorcycle dealers, petrol retailers, auction houses and cherished number plate dealers,