When it comes to motor trade insurance, it’s important to compare prices with various providers. Specialists can often offer cheaper rates than general providers, so it’s worth comparing quotes. Not only will this save you money in the long run, but you may also find a policy that better suits your needs.
A broker can compare quotes for you when you are looking to find the best price for the cover that your motor trade business needs. This is because insurance brokers have the pick of many different insurance companies. Okay, the choice is more limited with specialist insurances such as motor trade insurance, but there will still be a choice to compare against.
Finding and Choosing a Good Provider
Motor trade insurance can be complex, so it’s important to work with a provider that you trust. By taking the time to compare prices and policies, you can find the motor trade insurance that’s right for you. With a little research, you can find the best provider for your needs and get the coverage you require at a price you can afford. A broker can carry out that research on your behalf.
Types of Cover to Include
Some of the cover provided by motor trade insurance is optional while other parts are a must. For instance, you will need road risks when driving a customer’s vehicle, as well as employer’s liability insurance for your staff as a legal requirement.
While public liability cover may be optional, it is advised, because if a customer should injure themselves while collecting a car, settling with an injured party could potentially put many out of business. We should always look to protect against any potential financial disaster to ensure the longevity of a business should the worst happen.
It is also advisable to make sure that a customer’s vehicle is insured against fire and theft while on business premises. This might include storing it overnight as well as while working on it in the daytime. It might not be possible to store everything under a garage roof, so the car might still be visible even when kept inside a locked complex. It is sensible to have the vehicle insured for the protection of the customer and the business.
Think about the needs of your type of business when taking out the cover. For instance, a garage that services vehicles might have different insurance requirements than those washing vehicles in a supermarket car park. Also, those selling vehicles will have more in their possession at any one time. Consider if there are limits on a motor trade policy that restrict the value of individual vehicles in your possession too. Some will exclude top-of-the-range sporty models. It is wise to check the policy details before taking out the insurance.
Comparing Cover in a Like-for-Like Way
When you’re looking for motor trade insurance, it’s important to compare cover in a like-for-like way. This means that you should reach the level of cover offered by each policy, as well as the exclusions and restrictions, for it to be comparable. This will help you to find the right policy for your needs.
It’s also important to remember that not all policies are the same. Make sure you read the terms and conditions carefully before you decide on a policy.
By comparing motor trade insurance policies in this way, you can be sure that you’re getting the best deal possible. Motor trade insurance can be a complex and confusing area, but by taking the time to compare prices and policies, and accepting the help of a broker, you can find the motor trade insurance that’s right for your business.
This is a basic guide on how you should compare prices with motor trade insurance. Comparing quotes from specialist providers can often lead to cheaper rates. It is important to compare cover comparably and to remember that policy cover, including policy excesses applied, can differ significantly. Make sure you know for certain just what your policy is offering when looking to go for the cheapest option. If you obtain three quotes, then sometimes the one in the middle can offer the best deal in terms of peace of mind alongside your financial requirements.