The different types of Road Risk Motor Insurance

Motor Trade Insurance

No matter what vehicle you have for your business, it is important to take out the motor insurance. The insurance of the private car and the business traders insurance are completely different. You can’t use the private car’s insurance to continue your business. In addition to that, the types of insurance depend on different insurance companies. The road risk insurance of the Motor Trade Insurance is an important insurance for your vehicle if you want to use it commercially. There are the different types of road risk insurance. Let us know what they are.

Third Party only

This is the lowest level of insurance that is available to the customers. This is the minimum level of protection that a vehicle has to opt for before setting it out on the road for commercial purpose. This road risk insurance covers in time when an accident is caused by other vehicles. In such a case you don’t have to pay any of the cost required to repair the damaged car. This insurance will cover you from that. However, in this insurance, only the 3rd party will be covered in case of loss and damages and you and your vehicle will not be covered anyhow. However, the person that is with you during the damage or accident is covered under this insurance.

Motor Trade Insurance

Third party fire and theft

This insurance covers up everything that is mentioned in the ‘third party only’ contract and in addition, it also covers the car in case of theft, damages, fire or any other loss that is included in the motor trader’s forum or control. This covers the third party vehicle for all the mentioned problems; however, in this too your car is not covered.

Fully comprehensive cover

This type of cover is also known as fully camp. You guessed that right; the camp is the abbreviated form of ‘comprehensive’. This is the topmost level of road motor insurance that you can purchase. This is the elite insurance policy which covers you everything that is mentioned in the third party only and third-party theft and fire policy. With this policy, you are assured that whatever may be the issue with the third party vehicles your insurer would look into anything and everything under the policy. If there are damages caused by you then the issuer will pay for any necessary repairs.


 So far, the fully comprehensive cover looks the best option. This is furthermore more expensive than the rest two options. However, if you have done the first two policies separately then it is always better to look into the comprehensive cover. It will be cheaper.

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