Six useful motor trade insurance facts

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Finding insurance quotes in the car trade business can be stressful; however, it doesn’t need to be. Let’s look at what you need to know before you decide on your next insurance policy.

Age

As with most vehicle insurance, age is a contributing factor to your overall premium. If you, or your named drivers, are under 25, you may find it difficult to find a suitable policy. Think carefully about which employees you need to insure – if you do require someone under 25 to be insured, you should be prepared to payfind a suitable policy. Think carefully about which employees you need to insure if you do require someone under 25 to be insured, you should be prepared to pay higher premiums.

Timing

When looking for insurance, don’t leave it until the last minute. Timing is key, as quotes will steadily begin to rise the closer you are to your renewal date. Start getting quotes around three weeks before your policy is due to start to get thebegin to rise the closer you are to your renewal date. Start getting quotes around three weeks before your policy is due to start to get the best quote; otherwise, you may be left paying more than you expected.

Location

If you operate your business in a busy area, your insurance is likely to be higher than a similar business within a quiet postcode area. Unfortunately for those in busy cities, your location will make a difference to your premium even if you are a particularly careful driver.


Previous claims

If you have made previous claims, your insurance policy is sure to rise. Frequent claims will only increase your premiums and could eventually see you becoming uninsurable, with insurance companies categorising you as too much of a risk.

No claims

If you have a no claims bonus, make sure you use it. Insurance companies look for reliable drivers; therefore, if you have not made a claim, this will help to reduce your overall premium. Check with potential insurance brokers, such as https://www.quotemetoday.co.uk/motor-trade-insurance, to see how your no claims bonus can make a difference to your motor next trade insurance quotes.

Honesty

Whilst it may be tempting to stretch the truth alittle when it comes to finding the right trade insurance, the simple fact is that this could leave you in serious trouble. Insurance companies may ask what your previous year’s insurance premium was to see whether you fall within their minimum premium little when it comes to finding the right trade insurance, the simple fact is that this could leave you in serious trouble. Insurance companies may ask what your previous year’s insurance premium was to see whether you fall within their minimum premium allowance. If you don’t answer honestly, you may miss out on a perfectly good quote that may end up being the most beneficial to you.

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