Motor Trade Insurance - The Truth

1. Traders insurance is a commercial or business insurance policy and therefore is only available through brokers who manage the general running of the policy for its duration. The insurers like to issue the policies, deal with the claims but leave the general administration of the policy to the broker who takes a % of the overall premium. Generally individuals are looking for cheap motor trade insurance and so it is important to know how its calculated.

2. The premium is calculated on a number of variables or rating factors. One of the major factors is the no claims bonus that is applicable to this policy. This gives the insurer the overall picture of how the policy and the policy holder manage their insurance. If there is 5 years or more on a policy then significant discounts will apply of up to 65% of the overall premium. No claims bonus are a key to the pricing of a policy.

3. Age is another high rating factor and also the age of the other people to be named on the policy. It is a general understanding that if someone is younger then they are more reckless and therefore more likely to have a claim on their motor trade insurance policy. The market for motor trade policies for people under 25 years of age is very restricted to one Insurer who is very expensive making this type of venture not a viable option.

4. Post code and location is also a critical influence. The inner city postcodes (such as inner Liverpool or London) are higher rated that the sleepy post codes in the country such as Winchester or Cornwall. Unfortunately if you do operate in an inner city area it is more likely you will have to pay more due to the rating applied by the Insurer.

5. The number of claims that a policy holder has made whilst holding any insurance policy has a significant bearing on the overall premium. If a policy is constantly incurring claims then it becomes 'distressed' and no insurer will want to take the company or individual on as the risk is so high. In this situation it is possible that the company becomes uninsurable leading to the business being forced to shut.

6. During the initial fact finding discussion a broker the various question will asked. Following your inital request for a 'cheap motor trade insurance quote' you will often be asked 'what did you pay last year?' or 'what is the best quote that you have had this year?'. It is important to answer these question honestly. Some insurers have minimum premiums;if you answer incorrectly then you may miss out on these company's quoting for your insurance

7. It is not advisable to cancel motor trader insurance half way through the policy duration. There are significant cancellation costs applied with and some insurers will not give any refund after 6 months. It is the best plan to wait until your next renewal date and look around then to get further information and a better understanding of motor trade insurance.

8. A lot of traders insurance is dealt with via call centres which as we all know can be extremely annoying; as you will passed from person to person; nobody takes responsiblity and you will ever speak to the same person. However some brokers, such as Evans and Lewis, have opted for an office based/account managed approach ensuring you have a dedicated account handler who deals with all you mid term adjustments or queries on your motor trade insurance policy. These types of brokers provide a much better service and can save you the policy holder significant time.

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Advice and information about motor trade insurance

Where can I find cheap traders insurance?

UK motor traders are known to immerse themselves in their industry. Magazines, websites, the latest news, it's necessary to keep up with rule and law changes. One constant that doesn't change however is the need to have the correct level of liability, indemnity and transit insurance for your motor trade activity. Whether an owner driver, fleet manager, haulier or your operations deal with the buying, selling and maintaining of vehicles. It's important to have a go to broker at hand when it comes to motor trade insurance premiums and understanding policy clauses. If you ask us "Where can I find cheap traders insurance" you'll have your answer.

What to avoid when buying a traders policy

Sometimes asking what seems like a silly question, could actually save you money in the long run. Not many people read the policy particulars of a motor trade insurance document. But they should! "What to avoid when buying a traders policy?" The answer being anything that you don't really need, because everything adds up and costs in the end. A good broker will guide you through each part, even if it takes a bit of time and get you a really good quote. Coverage for special vehicles? EU breakdown when never crossing the channel. Only add named drivers when required and be sure that adding that private car really is cheaper than an individual policy. Call for more advice on what you don't need.

Who are the best trade insurance brokers?

Each and every day a person is reading the latest technical news involving your company and its motor trade niche. They read about motoring law, latest vehicle data, research crash numbers, parts updates and latest failure numbers. At the same time, they are making policy condition comparisons. Seeing where deals can be made, if certain aspects are now cheaper and arranging a renewal quote that cannot be bettered by another insurance provider.
For 365 days of the year, a broker is looking out for ways to make Goods in Transit insurance, Liability, indemnity, breakdown and theft coverage cheaper. Who are the best trade insurance brokers? This is what we do for our customers. If you are looking for a share traders brokers forum then follow the link

What are the finance options on a motor trade policy?

Whether you are opting for all road risks only or combined motor trade insurance, a broker and insurer are always willing to offer policy flexible payment options. But what are the finance options on a motor trade policy? No matter what you are told, you will hardly ever be able to get insurance in an instant without paying a sum of money upfront. Other options for payment are on an annual basis and a month in advance, where you might be offered ten or eleven months for the price of twelve. Or interest free credit on monthly premiums. You may also be able to tap into Pay on use breakdown recovery.

How do I save money on my motortraders policy?

You are not alone in asking "How do I save money on my motor trade policy?" Millions of motor traders ask thousands of specialist brokers the same question on an annual basis. It may seem like we're passing the buck, but being honest, most of the savings that can be made are down to you. Better locks, more security, advanced driving ability. Safer routes, preventative maintenance. Ensuring you have the correct Goods in transit insurance, breakdown recovery area and driver and vehicle history are current. There are additional comparisons our brokers can help drill down on, policy particulars that you may overlook. Give us a call and we'll help you with the final hurdle.

Can I put my wife on a traders policy?

If you have ever wanted to rope your other half into driving your 3.5 tonne truck up North while you lay in bed, there's some great news. Most insurers will allow you to add a spouse to your policy. The bad news is however, she or he may not be allowed to deliver your latest consignment due to restrictions put in place. Can I put my wife on a traders policy? Yes but be wary of any stipulations. Trader's insurance does come with benefits such as the ability to add named partners and add private vehicles. They simply need to be added to MID and the insurer informed.

Will the motortraders insurance cover any vehicle?

Trader's insurance is tailored to each individual business. No two policy documents will be the same. Will you be able to drive any vehicle? Will the motor trade insurance cover any vehicle? When you set up a motor trade insurance policy you are required to add vehicles and their types at the time it is written. The answer to the above questions will be found within the terms and conditions of the document. Should you need help reading and understanding which vehicles are on your policy do please get in touch. You will either be able to drive a certain class of vehicle, all vehicles owned only by your or a range as advised within a policy.

Motor trade insurance on social media

In today's new media world, the best way to keep up to date with news on the motor trade industry is to follow people or companies on the internet. This can be done by finding Motor trade insurance on social media such as Facebook or Google+. It is also a great way to read reviews and chat directly to brokers and get instant advice. However, you should always be aware of the tips and help offered. Any broker and associated company should be registered with The Financial Conduct Authority in the UK. If discussing insurance, premiums and savings to be made, be sure to get advice from someone authorised to provide such offerings.

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Motor Trade Insurance Services

Motor Trade Insurance

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)

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Road Risk 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)

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Combined Motor Trade Insurance

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)

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Cheap Motor Trade Insurance

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)

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Under 25 Motor Insurance

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)

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8 Frequently Asked Motor Trade Questions