Once youdecide to purchase Motor Trade Insurance, there aremany different kinds of policies from which you can choose, according to yourneeds and circumstances. There are two main categories of MotorTrade Insurance. One is Road Risk, which includes Comprehensive, ThirdParty Only, Third Party Fire and Theft and Liability Insurance. The otheris the Combined Policy which provides cover for the trader’s business andmaterials and equipment as well. Whilechoosing a policy, the most important thing is to consider the extent to whichthe motor trader wants to protect their vehicles, and also those of theircustomers. The firsttype of WP Worm Gear reducer machine MotorTrade Insurance policy is Third PartyOnly. If a motor trader doesn’t really require insurance, he would have to atleast get this to fulfill the legal requirement for driving on public roads in theUK.

With this policy, only the damages of the other party would be covered and thetrader would not have any protection against damages and losses. Third Party Fireand Theft is an upgraded form of the Third Party Only Policy. It covers theclaims made by any third party, and also covers the trader in the event oftheft or fire. The Comprehensive Policy has all the features of the first twopolicies but also provides cover for several damages caused to the vehiclewhile it is being used by the trader. This policy also covers the expense ofthe repairs. The nexttype is Liability Insurance. This policy covers liabilities that the motortrader might incur towards his customers and employees. It also includes theliability of products that the trader carries in the vehicle. The last is thecase when the motor trader is a mechanic or owns a garage. This policy includesPublic Liability Insurance, Product Liability and Employee Liability.

The last kind of insurance is the Combined Policy, and itcovers almost all areas of the motor trader’s business. These covers include the machinery, tools, businessinterruption, goods in transit and many other aspects related to the businessthat are encompassed by the premises where the motor trade is being undertaken.This policy also covers for road risks and repairs. This is a simple policy andprovides maximum protection to the motor trader. Everypolicy has its own exclusions and limits. It is important to understand thesebefore agreeing to Motor Trade Insurance.These are important because the trader should be aware of the limits theinsurance company has for different kinds of damages. In the case of queries,the motor trader can contact an insurance consultant for clarification.Whicheverpolicy the motor trader gets, it is important to inform the company of changesin the number of drivers and address of the policy holder over a period of time,because these things can cause a change in the premiums.