Torque Bike Motorcycle Trade Insurance is designed for businesses of all shapes and sizes. Whether you run a multi-location dealership or you’re a sole trader, we can help you arrange the protection you need. With a range of different options on offer, we’ll tailor your insurance to your business.
- Wide unaccompanied demonstration options
- Rider training cover
- Low claims rebate available
- 2.5%-interest direct debit options available*
- Full theft coverage
- Self-drive hire
Why Choose Us For Motorcycle Trade Insurance?
Because we’re passionate about motorcycles. We have owned, ridden and enjoyed life on two wheels, just like you.
The Torque Bike team also has a wealth of knowledge when it comes to handling motorcycle motor trade business, with more than 20 years’ combined experience working within the industry. Having come into contact with dealerships and associated businesses along the way, we know the risks you face and will work with insurers to tailor policies to your specific needs. Torque Bike has the cover to protect your business and we can even arrange a 30% uplift on your sums insured during peak trading seasons, to guard against underinsurance.
And if something does go wrong, we’ll help you put it right. Our experienced in-house Claims team is on hand to help you get back on your feet as quickly as possible, keeping disruption to a minimum.
Our results speak for themselves, with 96.6%** of our customers staying with us at renewal time.
Why do I need Motorcycle Trade Insurance?
A motorcycle business can encompass a lot of different activities. For instance, you may have potential buyers wanting a test ride, or perhaps you are running a course that teaches people how to ride. You may also need to hop on a motorcycle from time to time to check it after repairs.
Your business could also have a number of assets it needs to protect. For example, you may own premises from which you run your business, which could be stocked with tools and other equipment.
In addition, you could be responsible for other people. You may have employees, or need to have protection in place for members of the public.
All of these different aspects of a motorcycle business can be covered by Motorcycle Business Insurance, which will help to protect you, your reputation and your organisation. Without it, you could open yourself up to expensive claims and legal action.
What does Motorcycle Business Insurance cover?
Motorcycle Business Insurance can be tailored to meet your individual business’s needs, but it can include the following:
Employers’ Liability Insurance
If you employ anyone within your motorcycle business, you are legally required to have Employers’ Liability Insurance. It will provide financial protection should an employee claim that they were injured or made ill while carrying out work for you.
Public Liability Insurance
This insurance will financially protect you if a customer or other third party claims that they are injured or their property has been lost or damaged as a result of your business.
Road Risk Cover
It’s possible that you may need to ride a motorcycle that you don’t own, perhaps to test it or to ride it to another branch of your business. If so, this will cover you for the journey. This policy can also include accompanied and unaccompanied demonstration cover so that your customers can road test motorcycles before buying.
Rider Training Cover
If your motorcycle business offers motorcycle learners courses, having specific cover in place to cover learner riders and your employees for training them will be an essential component to your tailored Motorcycle Trade Insurance.
Self-Drive Hire Cover
You can opt to have Self-Drive Hire Cover included in your Motorcycle Business Insurance if you rent out your motorcycles. This will provide financial protection should a motorcycle from your fleet be lost or damaged. It will also provide third party liability cover in case the worst should happen and one of your motorcycle rentals results in death, injury or damage to someone’s property.
Not available as a standalone policy.
If you own your motorcycle business premises, you can protect it against events such as fire, flooding or malicious damage with appropriate Buildings Insurance.
Stock or Contents Insurance
If you have other vehicles on your premises, tools, parts or other equipment needed to run your business, Contents Insurance will financially protect you should they be damaged, lost or stolen.
Material Damage Insurance
This insurance will provide protection for business-critical buildings, contents, stock and vehicles should there be an unforeseen event, such as a storm, flood or fire.
This provides cover for motorcycles (or parts) that are lost, stolen or damaged while in transit. It includes up to 4 motorcycles in transit as standard.
Product Liability Insurance
If you sell a part or provide a service that later proves to be defective, this will provide you with financial protection. This cover also includes defective workmanship should you manufacture your own products or provide repair services.
Motor Trade Risks
This provides cover for vehicles when they are driven or ridden on public roads for business purposes. The policy can cover multiple locations and employees and you can choose from comprehensive, third-party, fire and theft, or third-party only. Windscreen damage is included with comprehensive policies. If you run a training centre, rider training can also be added to your policy.
Wide Unaccompanied Demo Cover
If you offer your customers test rides, this cover will protect you should something go wrong. It’s suitable for riders aged 21+ with no minimum licence period restriction, although the licence must be issued by the DVLA.
Can I get insurance to sell spare parts?
Yes, you can get insurance to sell spare parts. However, insurers will only cover you for selling brand-new ones, not second-hand parts. This is because second-hand parts have more risk attached to them. It can be difficult to establish where a used part came from, which means the liability will be placed on you, rather than the manufacturer, should something go wrong.
For this reason, you can only get Product Liability Insurance to cover new parts that you may sell as part of your motorcycle business. This will compensate any of your customers if they are injured or their property is damaged by a faulty part sold by you.
Can the scheme cover the use of other vehicles?
Yes, of course!
We know that many motorcycle businesses also use company vans and cars in their operations. Cover can therefore be extended to include those vehicles where required, along with a limited number of director-owned vehicles if they are used in connection with the business.
How Much Does Torque Bike Insurance Cost?
The price of Motorcycle Trade Insurance varies depending on the type of business you run, its size, your operations and a wide variety of other factors. Give us a call today for a bespoke quote.