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A necessary investment for anyone involved in buying, selling or servicing of vehicles is motor trade insurance. Trying to obtain merit trade insurance at an affordable price, however, while still maintaining comprehensive coverage can be overwhelming.
With the right approach, though, you'll be able to reduce your premiums and find the cheapest motor trade insurance around that can still meet your needs. In this guide, we're going to give you 10 tips to help you to achieve just that. This ensures that you secure the best value of your business without compromising on any protections.
When you're purchasing motor trade insurance, you need to avoid settling for the first quote that you get. Insurance providers out there will offer you a range of policies and these will have varying levels of cover, so the best way to make sure that you get the cheapest is to shop around. You can use comparison websites that can allow you to compare quotes from multiple insurance at once as this will give you an overview of the best options available. Comparison websites are a great starting point, but you should never hesitate to call the insurers directly and discuss your needs specifically. Sometimes insurers can offer you bespoke rates or discounts and these may not be reflected on comparison site . If you're proactive about it, you'll get better rates and additional discounts.
Motor trade insurance comes in various forms and the type of cover that you choose will affect the cost that you have to pay. There are three primary types of motor trade insurance and these are:
This is the most basic type of motor trade insurance and usually it's the cheapest option. You will be covered for driving vehicles on public roads, but it won't cover your stock or your property.
You'll get broader protection with this coverage. It doesn't just cover your vehicles on the road, but it also covers damage to your property, any public liability and sometimes your premises too. It's more expensive than road risk cover, but it's the best choice if your business requires something more.
This particular insurance combines elements of road risk insurance and property cover into just one policy. Typically, it's more cost effective as an option for those who require more than just the basics but don't want to pay for the full comprehensive cover.
The policy type is essential in securing a great deal. If you're running a smaller business that doesn't require anything extensive, then road risk insurance could save you money if you're dealing with high value stock or you do need premises cover. However, it's always a better idea to invest in combined insurance that can offer you more value in the long run.
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If you're looking for a better balance between cost and coverage, third party fire and theft insurance can be an excellent option. You'll get third party liability cover, which is important for accidents, along with protection in case your vehicles are damaged by fire or stolen. It's not the most comprehensive coverage out there, but it is a more affordable option for those who don't need full vehicle damage cover but still want some degree of protection. If you're operating in a smaller business or you're dealing with lower value vehicles, it gets a great way to have a cost effective alternative to a more extensive policy.
Your excess is the amount you pay out of pocket when you make a claim on your insurance. Generally, insurers will reduce premiums so those who are willing to take on the larger excess amount. This is because by increasing your excess, you're taking more financial responsibility for small claims. This lowers the risk for the insurer. If you raise your voluntary excess to £500 or £1,000, your monthly premium will decrease. Just be cautious not to set an excess that you wouldn't be able to afford.
One of the most important factors that can affect the cost of your motor trade insurance is your driving history. An insurer will generally offer a cheaper rate to somebody with a clean driving record, so if you've been involved in accidents or had any traffic violations or received any penalty points, you could face higher premiums. If you maintain a clean driving record, you'll be able to keep your overall costs down. If you are new to the industry and you don't yet have a track record behind you, you might want to consider enrolling in something advanced like a driving course or a defensive driving course. This will improve your driving skills while also helping you to demonstrate to insurers that you are a responsible driver. This can lead to potential discounts on your premiums.
The technology that uses a device or a mobile app to monitor driving habits is known as telematics. You'll include speed, acceleration, braking and the time of day that you drive. Most insurers will offer telematics based motor trade insurance policies and this is where your premiums are linked to how safely and responsibly you drive. The safer you drive, the lower your premiums and if you drive your vehicles with caution and responsibility, you’ll get better discounts particularly if you have no convictions. Even if you have multiple vehicles, using telematics on each one can provide the insurer with the insights that they need in your driving behaviour. This can result in cheaper rates for your whole fleet.
The number of vehicles that you operate can directly influence the cost of your motor trade insurance. More vehicles generally leads to higher premiums because the insurer has a greater risk. If your business has grown and it includes several vehicles, you may want to consider reducing your fleet if your vehicles are underutilized or unnecessary. Before you make any decisions here, it's important to take a look at your fleet and determine whether all of the vehicles are essential or not. When you reduce the number of vehicles you have you can lower your premium significantly.
Insurance premiums will often lower for businesses that invest in their security measures. Protecting your vehicle and your premises is important, and adding security systems such as CCTV cameras, motion detectors and alarms will help you to reduce the risk of theft or damage. This in turn will lower your insurance costs and help you to afford better insurance for your business. By fitting your vehicles with anti theft devices like tracking systems and immobilisers, you'll also protect them from theft which makes you a lower risk customer to your insurers and is so doing the can offer the cheapest deal including the premises. When considering these upgrades, always check to see if you can save along the way.
Some insurers will specialise in offering motor trade insurance at much lower rates for specific industries. If you operate in a niche market such as classic car trading for example, or vehicle restoration, there might be insurers out there who are more attuned to your particular risk and needs. They may offer you tailored policies that provide a more comprehensive coverage at a lower cost. There are certain brokers out there that may have access to exclusive deals or discounts that aren't available through mainstream insurers. This is why it's so important to shop around.
Your insurance needs will evolve as your business grows or changes. It's important then to review your motor trade insurance policy every year to ensure that you're still getting the best deal. As your business needs change, your insurance needs may also change. If you acquire new vehicles or expand into new premises, for example, your existing policy may not be the most suitable or the most affordable option anymore. Reviewing your policy to see if there are any areas you can cut back on coverage or take advantage of discounts, for example, can help you to reduce your insurance costs. You can also talk to your insurer about any loyalty discounts or ask them to reassess your risk level. Over time, this may help you to lower your premiums.
Finding cheap motor trade insurance doesn't mean you have to sacrifice on service or coverage. When you are proactive about finding quotes, comparing those quotes, adjusting your excess, and implementing security measures, you'll be able to ensure that your business is protected at a price that is going to fit your budget, not exceed it. By making these adjustments and regularly reviewing your policies, you can keep your premiums low without compromise. You can also keep your protections high. When you start applying these strategies, you'll save money and ensure that your cheapest motor trade policy online provides you the best value for money over time.
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Motor Trade Insurance Policies from £499 |
Finding the right cheap motor trade insurance policy can take considerable effort but we can help part time and full time car sellers and combine the best deal and the right support, first time every time. We offer free quotes for discount motor traders insurance online with no deposit,
and have some providers that can include under 25s. How are you going to locate the most practical answer and advice in the shortest period and talk to an expert? Why should you settle for a high price when there are good traders insurance deals around. Can you find a better solution and see what is new ventures get in the trade market?
Accessing the correct experience and knowledge is very important and we invite you to see what solutions we can offer. Time and time again we help motortraders save money and save time and get happy customers recommending us to others.
So that you can get on running your car trade business in a successful way. What better way than speaking to us for the cheapest traders cover in the sector. We can combine a trade policy and include staff and buildings cover in one. We also enable you to have any driver included within all facets of the policy.
What car traders say about us is truly amazing as the saving can be so large . In conclusion we aim to assist motortrade business owners seek and find the most suitable and honest deal that they really need and can back this up with excellent customer service.
What about new ventures and new set up I may here you say, well these can all be covered to and we have considerable expertise to zoning in on the correct cover and we are pioneers of helping operations getting going and including additional business use with the car sellers policy. (Motor Trade Insurance)
Evans & Lewis Insurance specialise in providing Road Risk Insurance for Motor Trade business’ and business’ that sell vehicles. In recent times there has been a contraction in the Insurance market within this sector. There are now fewer Insurers to provide these types of policies. We have an experienced team providing competitive quotes for Road Risk and also provide cheap combined Motor Trade Insurance. We offer a range of payment options that can assist individuals to spread their payments over a variety of terms.
So whether you are looking for a Road Risk policy or Motor Trade Insurance with premises cover, it is extremely important to talk to a specialist in the Market like Evans & Lewis. It will take a short time to go through your insurance requirements and we provide quotes for Motor Trade Insurance combined with Buildings and also Employers Liability and Public Liability.
We can offer a range of different levels of cover. From third party only, third party Fire & Theft or fully comprehensive. We also provide excess options from £250 - £1000. There are also specialist policies which cover vehicles in transit, vehicles left at business premises and it is also possible to protect your no claims bonus. (Road Risk Insurance)
To get a competitive Motor Trade Insurance Quote
Please call 0161 5434552
When running a motor trade business is very important to have the correct insurance policy in place to cover all eventualities that can arise during the year. If you are employing staff and own a premises then the best cover is a combined motor trade insurance policy that will enable to put all the facets of your company under one roof. The main constituents of the policy are the road risk, employers liability, the public liability and the buildings cover. It is also greatly under estimated the importance of cover that provides revenue for you in the event of fire or flood or any other circumstance that may occur to your business activities.
In order to obtain the best costing it can be advisable to increase the excess as this can assist in lowering the motor trade insurance quote. Once you have identified all the attributes that you require with the policy it is best to speak to several firms who have significant experience and a dynamic approach to the service. Always choose a broker who has a reputable claims handling line because this is in essence what you are paying for. (Combined Motor Trade Insurance)
Telephone us now on 0161 5434552
How To Get Cheap Motor Trade Insurance Premiums Through Knowledge
Knowing how to get cheap motor trade insurance premiums for your motor trade business can require some brainstorming.
Most operatives in the motor trade are clued up business men in the middle of a daily vehicular business and the last person they wish to deal with is a broker who doesn't know their trade. You know the ins and outs and wish to deal with an insurer which is straight and shows common sense. Understanding the needs of the individual business, premises, vehicles, liabilities, indemnities and drivers to be insured.
Our clients offer advice about cars as a dealership or making essential body and engine repairs as a mechanical repairer whose coverage needs to be the right level to offer customers guarantees on the work carried out. There are also car park owners who are tasked with the safety and security of thousands of cars on a weekly basis, entrusting Evans and Lewis with their livelihoods and insurance coverage. A vast swathe operate in vehicle recovery as a breakdown service or offer garage repairs as mechanics. Their customers expect the highest level of service and so should you. (Cheap Motor Trade Insurance)
If you would like to arrange a quote for insurance
Please call us now on 0161 5434552
Motor trade insurance for the under 25’s has significantly contracted in recent years and there are now only 2 or 3 insurers in the market place who will cater for this type of risk. Often enough the insurers will request a business plan that provide projecting financial forecasts. If an individual is looking for a combined motor trade insurance with premises, then again, a similar format would apply. The insurers are increasingly wary of individuals who take out this type of policy but are not working within the motor trade.
We have an in depth and broad understanding of the motor trade insurance market and we have gained experience over the years to ensure we can deliver low cost solutions to suit your business. When starting off in the motor trade it is of paramount importance to contain all overheads that will enable the business to grow, rather than being lumbered with large costs.
The motor trade insurance that we provide is for vehicle sales, servicing and repair, windscreen fitters, valeters and tyre fitters. So whatever trade you work in within the motor trade sector, we are confident of finding you the best insurance deal. As we have worked with our insurers for numerous years, we can negotiate on your behalf to find a motor trade insurance with buildings solution that is bespoke to each business.
(Under 25 Motor Trade Insurance)
Please call 0161 5434552 or email info@evansandlewis.co.uk
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