Locating the right insurance policy for your business can be rewarding in terms of ensuring you have the cover you need at a competitive price, so it is well worth putting a little effort into finding the best policy.
Acquiring the best motor trade insurance can describe to be uncommon things to uncommon businesses. What is most significant, however, is that you get a superb policy that covers all ground roots and is accessible at the correct cost. If you need the apt insurance package, there are a few easy steps you should take. It could be the contrast between paying very much for cover you don’t require, or paying very little and being vulnerable to possible issues in the future. Here are our six top tips.
Give your insurer accurate information
Providing the correct details is very important. Ensure that the information you give them is up to date and accurate, even if you are tempted not to disclose certain information. Otherwise, in the event of a claim, your motor trade insurance policy could be invalidated if the company discovers that you have given them false information and this could result in you having to pay the entire bill yourself.
Restrict the drivers covered
Any Driver policies are more expensive than Named Driver cover, so it can pay to think carefully about who is allowed to drive for you. Restricting your drivers to only those with a clean driving record and no claims would be best if possible.
Use No Claims bonus
You may be able to negotiate a premium reduction if you have another policy that has a no claims bonus on it, as some companies will take a private car policy into account. According to the Guardian, it is often not worth protecting your NCD, but this is one time when it can be useful, so ask your insurance provider if it can be considered.
Pay the total premium
Paying a lump sum normally works out less expensive than spreading the payment into monthly instalments or a similar arrangement, since this attracts interest. Paying by debit or credit card is usually a better option and you know that you will not have to worry about it for twelve months.
Go to a specialist broker
You may be wondering who can provide motor trade insurance, and whilst many insurance brokers may offer this, it always pays to seek out a specialist who can understand specifically what you need.
A company that works with motor traders will not only have a greater awareness of your requirements, they may be able to find a better deal for you. This is because they understand the market better and will have links to specialist underwriters.
Follow these guidelines
For the best deal available, just follow these simple guidelines. Insurance is there to safeguard you and your business. Paying a little bit additional for actual cover is much better than curtailing nooks and being left with big amounts to pay in the time to come.