Motor Trade Insurance Working From Home

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A Guide To Working From Home Motor Trade Insurance

By from the MultiQuoteTime Editorial Team - July 2023

Many car traders and mechanics work from home, the lucky ones have lots of extra space, making working from home the most cost effective way to get started in the car trade or mechanic service business. For some, it may be just a part time activity or a hobby that makes a little money on the side. For others, it is an easy way to start a new business without having to rent out expensive business premises.

Working from home is not only the reserve of the part-time many full time traders successfully trade from home. A motor trade insurance policy can be tailored to your individual requirements. Perhaps you only need road risk insurance to drive cars that are entrusted in your care, or you need a road risk combined with other cover elements. What ever style of motor trade business that you operate, a policy can be tailored to fit your needs without having to pay for elements that are not necessary.

Motor Trade Insurance Working From Home

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A Guide To Working From Home Motor Trade Insurance

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Woking From Home Car Trade Insurance Options

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Can You Become A Car Trader Working From Home?

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Is Having Motor Trade Insurance Working From Home A Legal Requirement?

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Woking From Home Car Trade Insurance Options

Working as a car dealer is a popular full and part time trade, home car traders insurance is available at 3 levels that cover different things.

Comprehensive : Cover for damage caused to another vehicle, fire and theft, plus the car that you are driving. This can be a customer's car or your own business vehicle.
Third Party : Damage by other drivers to your car or customer’s cars
Third party with fire and Theft : Also covers fire and theft of your vehicle, plus customer vehicles

Can You Become A Car Trader Working From Home?

Most car traders start off working from home without premises, in these circumstances part time motor trade insurance is sufficient. Working as a car dealer without premises from home has obvious advantages, it gives you an opportunity to explore the business without significant overheads and risk. If you find it successful and need extra space, you can then look at getting your own premises or forecourt. Working from home is also an attractive option for mechanics, they will need a good size garage and extra parking space, no need for expensive business premises. Later, as your car dealing business grows, you can consider relocating the business to find a dedicated business park or forecourt.

Car dealing is one example of working from home within the motor trade sector, other popular work from home trades include mechanics, Tyre Fitters, Car valet service and mobile mechanics. The panel can provide mobile mechanic insurance and other trade related cover tailor exclusively to your individual requirements

Is Having Motor Trade Insurance Working From Home A Legal Requirement?

If you will be drivings customer vehicles, your business will need a minimum of road risks insurance .

How Many Cars Can I Sell From Home?

If you are selling cars from home for profit, the number of cars does not matter, selling for profit will classify you as a car trader. HMRC does not stipulate numbers when assessing whether somebody is actually running a business. Their rules state that anyone who's "sole object of acquiring an asset was to re-sell it at a profit, without any intention of holding it as an investment" is defined as proof of trade.

Pros And Cons Of Selling Cars From Home

Working as a trader from home has many attractions and whilst it is associated with younger traders, more experienced traders also choose to work from home in the UK. Whilst the advantages far outweighs any limitations, we have also included some possible limitations below.

Some Advantages Of Selling Cars From Home

Freedom to work flexible hours and saving on fuel and travel associate costs
Start up costs are going to much less than having to rent a forecourt o garage
Risk over being overstretched from a finance perspective is greatly reduced, giving you time to grow organically.

Possible Downside Of Selling Cars From Home

Depending on the space available and how you are set up, you may come across as unprofessional.
The local Council may impose limitations on how many vehicles can be stowed on your private property.
Neighbours, make sure your neighbours have been informed and set up they are okay with your car dealer intentions. If you deal in older cars bearing the scrapper's yard, this may be an issue

Car Dealer Working From Home FAQ's

Is Selling Cars From Home Legal in The UK?

No special licence is required to deal in cars in both England and Wales. However, in Scotland you will need a licence to deal in cars from home without premises. A full or part time licence can be obtained from your local authority.

Can I run a car sales business from home?

For many, this is the ideal way to start, without premises your overheads should be low and starting off from home lets you gain experience and an understanding of the nature of the business. At which stage you can decide if it is something that you wish to invest further in and make full time in the future.