How To Get Cheaper Motor Trade Insurance

As with most types of insurance there are some proactive steps you can take to help lower the costs and while cheap may seem like a good option it does not necessarily give you sufficient cover.

Never assume that all types of vehicles, such as motor bikes or high performance cars are included on the policy. You need to make it very clear to insurance companies that you need a policy which covers all types of vehicles.

You could save money by applying online for motor trade insurance as a new customer. It is also worth considering using this method with your existing insurance company as many will offer discounts if they think they could lose your valued custom.

Consider offering to increase the amount of voluntary excess on your policy. This means that you will have to pay more if you have to make a claim before the insurance company pick up the rest, but if you rarely make a claim it is worth considering or discussing with insurance companies.

No claims discounts continue to give the largest savings. Some insurance companies will allow you to transfer no claims discounts earned on a private car policy to a motor trade policy.

Although paying one instalment for your policy may seem expensive, paying by monthly instalments will cost you more in the long run, so it is worth giving consideration to just one payment when you purchase the policy.

Having premises, equipment, public and employers liability cover all provided by the same motor trade insurance company can also help you save money as well as additional savings in your own administration costs.

Ways To Help Lower Courier Insurance

Courier businesses should give serious consideration to having both their vehicle insurance and their courier business insurance, such as Goods in Transit, Public Liability insurance and Employer’s Liability, all provided by the same insurance company.

Not only will they be able to negotiate better and possibly lower insurance premiums, having one insurance company can save a lot of administration time and manpower as there will only be one company and renewal date to deal with.

Many insurers who specialise in courier insurance are offering some very competitive deals for new business ventures for the first year of a policy. The usual no claims discounts held by drivers and those over the ’age’ thresh hold set by the insurance companies can also help to lower the costs and save you money.

The ‘age’ thresh hold is generally 21yrs, but this can and does vary between insurers, some have an young driver age limit of 25yrs.

The courier insurance market is a competitive place, as such the insurers are offering to beat like-for-like quotes which you may receive from their competitors. The best advice is to shop around to find a great insurance deals which meets your courier business needs from companies who specialise in this type of insurance.

Don’t be fooled into thinking that cheap is best – read the small print, terms and conditions to ensure the quotes you receive meet your needs, if you are in doubt or have questions use the free phone numbers or ring back service to ask before you make a commitment and part with any money.

Having the Correct Motor Trade Insurance For Your Business

Public Liability insurance cover is needed if anyone in the motor trade business invites a member of the public onto their premises. This includes business such as:

* Buying and selling of any type of motor vehicle from showrooms or forecourts.
* Garages and workshops which repair vehicles for payment or reward, including business who restore vintage vehicles.
* Driving any kind of vehicle on a public road, this includes motor trade businesses who run on trade plates.
*Breakers or scrap yards.

Basically anyone who operates a motor trade business and allows members of the public onto their premises, forecourt or any part of their land or property needs to ensure they have appropriate public liability cover included on their insurance policy.

Additionally if you have employees you will also need to Employer’s Liability cover as this is a legal requirement in the UK irrespective of how many employees you have.

A recent TV advertising campaign featuring Sir Allen Sugar shows a motor trade business which has an ‘apprentice’ learning one of the many motor trade professions, as such businesses who have apprentices working on government training schemes will also have to ensure they have appropriate cover before they can take advantage of these schemes. If you are unsure of the type of insurance apprentices need you can find out either from the training company delivering the training or from the Learning Skills Council.

Check with companies who specialise in motor trade insurance to ensure your business is meeting legal requirements and that you don’t get caught out if an employee or member of the public harms or injurers themselves whilst they are on your premises.

Fleet Insurance For Multiple Vehicles

If your company has multiple vehicles, it is nearly always cheaper to get a fleet policy to insure your company vehicles. It is a common misconception that a fleet must be made up of trucks and HGV’s, any business vehicle can be counted as a ‘fleet’ no matter its size.

Typically however you will always receive cheaper fleet premiums if most of your vehicles are of the same type. This means that if you insure 10 small vans it will nearly always cost less than insuring a mix of cars, vans and HGV’s under the same policy. The price change is not very large but it is worth considering for companies with a small amount of vehicles.

Generally the minimum number of vehicles needed to use a fleet policy is 5, although the number typically varies from insurer to insurer. As such it is worth shopping around if you have small number of vehicles, just because a couple of companies will not insure your 4 vehicles does not mean others won’t!

This type of policy does not normally include Goods in Transit insurance and Public Liability insurance, these must be purchased separately if needed. In essence fleet insurance covers all of your vehicles under a single policy that is far easier controlled and renewed than multiple individual policies for every vehicle. This saves you the time and hassle of having to renew each policy next year and shop around again for a whole number of different insurance deals. Instead you simply have one policy to renew.

Finding Completive HGV Insurance Deals

Finding completive HGV insurance deals can be a nightmare, with insurance companies all offering cheap deals to gain your custom how do you which is best?

Insurance companies which specialise in HGV insurance are probably the best solution for those want to ensure their trucks are fully protected on and off the road.

Insurers who offer ‘all in deals’ such as One Business Insurance Solutions can save you a lot of time and hassle by including the truck insurance, Goods In Transit cover, Public Liability and Employer’s Liability (if applicable) under one company. This type of deal can also reduce your administration time and the problem of having to remember numerous renewal dates each year.

As with all other types of vehicle insurance there are many insurers who also offer this type of hassle free cover. Reputable companies have business and risk assessment plans which can save you time and money not only on your insurance costs but also help to lower your overall running costs.

Probably the easiest way to find competitive deals is to go online and carry out research and obtain quotes from a number of different insurance companies. If you don’t have the time or quite frankly the inclination, make use of insurance brokers who also specialise in HGV insurance and let them carry out the searches on your behalf.

Business which have more than 4 or 5 trucks can also make huge insurance savings by having a HGV fleet insurance policy. Again, search online to see if this option is available to suit your business needs, the number of trucks needed to qualify for fleet insurance does vary between HGV insurance companies -another good reason to shop around!