Cheap Motor Trade Insurance
Finding cover shouldn’t just be about getting cheap Motor Trade insurance, but about getting the right cover too.
When looking for any type of insurance cover, whether that be Motor Trade insurance, Young Driver insurance or something completely different, most people will look for the cheapest quote they can find.
However, often the cheapest Motor Trade insurance quote may not be the right policy for your motor trade business, and in the long run you may end up spending more money because your cover wasn’t sufficient or suitable for your business. In extreme cases, whether you’ve deliberately chosen not to cover certain aspects of your business or you’ve just not been aware, if something goes wrong and you find out you’re not properly covered, then you could end up having to fork out the money from your own pocket, and if you don’t have the money available, you may even struggle to continue trading.
It can sometimes be a misconception that speaking to an insurance company or broker can lead them to trying to sell you things that you don’t need. While there may be some unscrupulous companies out there, the majority of specialists are genuine and will offer you professional advice and service to help you find the right cover, and not just a cheap Motor Trade insurance policy. A good Motor Trade insurance broker, such as Think Insurance, will advise you why it is important to fully assess your business before getting a quote to make sure you take out the right cover. It is also wise to review it before renewing an existing Trade Car insurance policy too, as aspects of your business may have changed since taking out your original Motor Trade insurance policy, and therefore you may need to change elements of your cover.
Consider What Needs to be Insured
The type of motor trader you are and the nature of the business you operate will determine the things you need cover for, and the level of protection you require. The more complex your trade business is, the more complex your Motor Traders insurance policy is likely to be. So, if you are a mechanic with a dedicated business premises you may want to make sure your Trade policy includes Buildings & Contents Cover, as well Product Liability cover too. If as part of your mechanic business you offer a courtesy car to your customers, you may also want to have Courtesy Car cover.
Even motor trade businesses that are often considered to be simpler, such as valeters or car washes, need additional coverage. A Valeters insurance policy may include cover for moving client vehicles, as well as Tools & Equipment cover. You may also need Public Liability to cover customers on your premises, and Employers’ Liability if you have any employees. However, you may be a motor trader who sells vehicles from your own driveway, and therefore think you just need a cheap Motor Trade insurance policy with the minimum level of cover, but that isn’t always the case. For a start, as someone selling vehicles, your prospective customers will in most cases want to test drive the cars they are looking at, which means you will need Demonstration Cover as not every customer will have the appropriate cover themselves. Even potential customers that do have an insurance policy that allows them to drive other cars, may not want to take on the risk themselves, and so you could lose business if you don’t have the Demonstration cover in place. You may also need Public Liability cover if your customers come on to your property to view your cars.
Motor Trade Insurance Broker
Of course, price is still a huge factor when taking out a Motor Trade insurance policy, as saving money in any areas of business is crucial for any type of trader, and there are ways you can find a cheaper insurance quote for your Motor Trade business without forgoing cover for vital components of your business. Finding a competent and experienced Motor Trade insurance broker is an easy way to access exclusive quotes for cheap Motor Trade insurance that the general public cannot obtain themselves, whether that’s going direct to the insurer or by using an online comparison site.
Utilising the knowledge of a specialist Motor Trade insurance broker also allows you the added benefit of being able to consult with a professional insurance representative about your business, so that you get the right cover. To get a Motor Trade insurance quote with Think Insurance you can click ‘Get a Quote’ below or to speak to a member of our experienced sales team, call 0800 221 8077.
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