The value of motor trade insurance has been made abundantly clear after a car dealership business was decimated by a fire earlier this week.
Thousands of pounds worth of damage was caused when flames ripped through the Paynes Road Vehicle Centre in Hampshire at around 10pm on Wednesday night (21 October). The blaze destroyed the reception area, which might need to be knocked down, as well as parts of the roof and several computers inside, the Southern Daily Echo reported.
A combined motor trade insurance policy is designed to provide cover for car repair businesses against the risk of fire, among other things. As well as customers' cars stored on site, this form of business insurance can provide protection for spare parts, tools, computers and the premises itself.
With business interruption cover, the combined trader's policy can also offer financial support for loss of earning if a garage has to close its doors while repair work takes place. Thankfully for Paynes Road Vehicle Centre the business is still up and running - manager John Mayhew has set up an office in one of the garages and will continue carrying out MOTs.
Mr Mayhew commented: "It has really set us back because there are people who rely on us and this has caused thousands of pounds worth of damage.
"Everything is burnt to the ground, computers, documents the lot, but we have to just crack on and get all our MOTs done."
