Finding The UK's Best Motor Traders Insurance Policy
Finding the best Motor Trade insurance is an important part of being a motor trader.
One of the biggest mistakes a motor trader can make, or anyone looking for insurance to cover their business, is to immediately go for the cheapest option without considering whether it both offers all of the protection they need, and is the best Motor Trade insurance policy for their business.
Motor Trade businesses can all be very different and complex in their own ways, and therefore need an insurance policy to match, and one with all of the required add-ons and different covers for all of the different products and services they offer.
Having the best Motor Trade insurance policy can often mean simply having the right Motor Trade insurance policy. For example, if you ask for the best Motor Trade insurance money can buy, you may actually be paying for things you might not need. However, some Trade Car insurance add-ons often only alter the price by a small amount, and in some cases may not alter the price at all. You may even find that some add-ons won’t affect the price of your insurance premium, so it’s always worth asking what your options are!
How Do I Get the Best Motor Trade Insurance?
This is a question we, as Motor Trade insurance specialists, get asked a lot. Every motor trader wants to know how they can get themselves/their motor trade business the best insurance policy. The easiest way to get the best Motor Trade policy for your business is to fully assess your motor trade activities and what you will need to get insured. There are some things you may need to cover by law, and there are others which you wouldn’t want to have to pay for out of your own pocket, should anything happen and you need to make a claim.
Having insurance isn’t just a legal necessity (to drive on UK roads or to cover any employees), it can also cover your business in the event of accidents, criminal damage and all sorts of other things.
Your motor trade business is likely to be different from other traders you know, so when looking for the best Motor Trade insurance, your policy should reflect this difference and therefore the price could be either cheaper or more expensive.
Price is of course a hugely important factor when looking for insurance for anything, whether that’s Black Box insurance or regular Car insurance. This means it’s important to know where to find a policy with the best price and the best cover for you. People often think that going direct to an insurer or using an online comparison site is the best place to go for their insurance policy, especially when it concerns the overall cost. However, when it comes to comparison sites, not many offer Motor Trade insurance, and for those that do, there may be a lot of insurance providers excluded or missing, which means you might not be getting the whole picture when it comes to what is available to you.
If price is a major concern for you, like it is for many other traders in the industry, then it is worth having a further look at your Motor Trade business to see what you may actually be able to do without. This could be something as simple as removing an employee as a driver, if that employee has a less than satisfactory driving record. Of course, this may not be possible for all motor trade businesses, especially ones that have only a few employees. If you do withdraw cover for any employees you must make sure they aren’t driving any cars associated with your business as this could invalidate your Motor Trade insurance policy.
Should I Use a Motor Trade Insurance Broker?
To get the best Motor Trade insurance policy for your business at a price that’s right for you, then we strongly recommend using a specialist Motor Trade insurance broker. This is because specialist insurance brokers such as ourselves often have access to exclusive prices that can’t be found on motor trade comparison sites and cannot be achieved by going direct to the insurer.
In addition to exclusive rates, specialist insurance brokers such as Think Insurance, have a wealth of experience and information on Motor Trade insurance, and our staff can happily help you design a bespoke policy, so that you can get the best Motor Trade insurance cover for your business.
Best Motor Trade Insurance Online Quote
After reading the above you may have conducted a full analysis of your motor trade business to find that your current Motor Trade insurance policy doesn’t fully cover all of your needs, or maybe your motor trade operation has grown and/or expanded meaning your cover needs to reflect that growth. If you need further guidance on what you may now need to include in your Motor Trade insurance policy then please get in touch.
To speak to a Motor Trade insurance expert call 0800 221 8077 or you can click ‘Get a Quote’ below and a member of our specialist Traders insurance team will be in touch to discuss a quote with you.