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Guide To Road Risk Only Insurance 

In simple terms, a road risk insurance allows you to drive any vehicle trusted to your care. Road Risk only insurance is a policy taken out most often by people that work with cars to be able to take the cars on the road, even though they don't own them or have a specific policy in their name for each car.

Common uses of road risks insurance include motor tradesmen, such as mechanics that have to transport the cars they work on, car sales such as showrooms and auctions, as well as some business-use vehicles to assist tradesmen on the job. 

This type of road risk insurance policy, or road risk only policy, will cover the cars you work on for third party only, third party, theft and fire, or comprehensive. The options can be more or less flexible depending on the policy provider.

The road risk only policy will not include any other business cover, such as public liability, employer's liability, commercial, or commercial fleet insurance, but a road risk policy can be taken out with a commercial policy. 

What Is A Combined Trader Policy? 

This is the term used to refer to a motor trade insurance policy that has combined several elements specific to the requirements of that particular business. When we talk road risk this a core element of any motor trade policy, but you can then add cover for business premises, cover for stock and liability under one combined policy a with a single renewal and payment date. Although most providers will allow flexible monthly payments spread over 10 or 12 months.

Road Risk Insurance Under 25

When insuring traders that are under 25, the same principles apply as those concerning regular motor insurance for younger drivers; it's notably more expensive. That's due to the fact that they are less experienced on the road, have less maturity, and are therefore more likely to get into an accident. 

Young motor workers or sole traders that are in need of not only their own motor insurance but also road risks insurance will not like to hear about this increased expense, but to combat the hiked premiums they can seek specialist under 25 policies. Due to the targeted focus on road risks insurance for younger drivers that goes into underwriting these policies, they are often worked out to be a better rate, more relevant to the driver, and with more comprehensive cover than those provided from general insurers. 

How Much Does Road Risk Insurance Cost?

The road risk insurance cost will vary depending on certain features of the business and the insured, but can start at as low as, £300 per year. 

Can I Drive Any Car On A Road Risk Insurance Policy?

Not too long ago, comprehensive motor insurance cover allowed any motorist to drive your car as standard, but this type of cover is less common these days. Instead, for anybody but the owner or a named driver on the policy to drive the car, a special road risks policy must be held by the non-owner. 

The owner or named driver must give permission and hand the car into the care or custody of the person named on the road risks cover. At this point, the policy will cover the road user, so long as the car is within the value that is allowed on the road risks policy and a car in care or custody of the company, driven for the purposes specific to the owner’s needs. 

How You Can Save Money On Road Risk Traders Insurance?

Save money of road risk traders insurance by following the following tips and advice.

Motor Trade Business Types Insurance