Motor Trade Insurance

Posts within the 'Trade Insurance' Category

  1. Average Cost Of Car Insurance Rises In Q1 2022

    April 27, 2022 by mti

    Whilst just because the average cost of car insurance has gone up in the first quarter of 2022 and that is actually the first time it has done so on a year to year basis in the last 18 months, does not mean to say that motor trade insurance premiums have also risen in the same period. Yes, many motor trade insurance policies are going to include cover for the motor trade business driving certain vehicles so it is quite possible that premiums for such cover have also increased. more »

  2. When Did You Last Review The Cost Of Your Motor Trade Insurance?

    January 23, 2022 by mti

    If you are a motor trader then you will no doubt have a motor trade insurance policy in place to provide cover for the likes of driving vehicles that you are considering buying or that you already own amongst other things such as tools. When there is a change in the cost of insuring a car it is quite possible that this will impact upon how much you will be charged for your motor trade insurance when you come to review your cover. more »

  3. Drop In Car Insurance Premiums

    October 19, 2021 by mti

    In the 12 months to the end of the third quarter in 2021, there has been a drop in car insurance premiums according to the Car Insurance Price Index. This may also have had an impact on motor trade insurance premiums.

    In the last year, premiums have fallen by an average of £97 per annum- down from £611 per annum in Q3 of 2020 to £514 per annum in Q3 of 2021. That is a fall of 16% – a sizeable sum of money that will be welcomed by consumers. more »

  4. Do You Review How Much Your Business Is Paying For Its Insurance?

    January 21, 2021 by mti

    Unless you are very fortunate, when you receive your renewal notice for your motor trade insurance, it will no doubt be going to increase for the next year’s cover. Of course, we are assuming that you bother to compare the cost of what you have been paying in the last 12 months with what your existing insurance provider intends to charge you for the next 12 months. more »

  5. Has Insuring Your Vehicles Got Cheaper?

    September 15, 2020 by Logan Biggs

    If you are a motor trader then you will need to make sure that your vehicles are suitably insured at all times such as when they are on your forecourt awaiting sale or are being driven by you or a customer who is test driving a car as part of their decision making process as to whether he or she is going to buy the vehicle. more »

  6. Cost Of Car Insurance Drops

    October 21, 2019 by Logan Biggs

    Motor traders and others running motor trade businesses may be interested to read that the average cost of insuring a car fell in the third quarter of 2019 when compared with the same period last year. You will no doubt have insurance covering driving customers’ vehicles plus you may also have cover for vehicles owned by your business so any change in the cost of car insurance may have an impact on how much your existing insurer will charge you at renewal. more »

  7. Small Reduction In Car Insurance Premiums

    May 6, 2019 by Logan Biggs

    If you are a motor trader selling/buying new and/or used cars then you will no doubt have a motor trade insurance policy in place to provide cover for the vehicles that pass through your business to include covering things like a customer taking out a car for a test drive or you collecting a used car from a customer’s home that you have perhaps taken in part exchange. So, any change in car insurance premiums will no doubt impact upon how much you are charged for your motor trade insurance policy at renewal. more »

  8. Cost Of Car Insurance Increases

    January 23, 2019 by Logan Biggs

    It is rather concerning to hear that car insurance premiums have gone up in the 4th quarter of last year based upon figures contained in the car insurance price index as this may have an impact on the amount that motor traders and certain other businesses in the motor trade industry pay for their motor trade insurance. more »

  9. Can You Afford To Pay Annually For Your Cover?

    December 20, 2018 by Logan Biggs

    If you run your own motor trade business such as a motor trader or perhaps a mechanic or car body repair shop then you will no doubt have suitable motor trade insurance in place to provide you with suitable protection in the event of something untoward happening. This could be say a road traffic accident, a customer injuring themselves on your business premises or someone breaking into your factory and stealing your tools. more »

  10. Why Review Your Motor Trade Insurance?

    October 23, 2018 by Logan Biggs

    If you own a motor trade business involved in the buying and selling of new and/or used cars, MOT centre, tyre fitter, car valeter or a garage servicing and repairing vehicles then you will no doubt have motor trade insurance in place. However, when did you last review the level of cover that you have in place to make sure that it is adequate to meet your current needs? Furthermore, when was the last time that you reviewed how much you are paying for your cover?

    If you own your business premises then is the amount that you have the premises insured for sufficient bearing in mind that property values may well have increased significantly over the last few years.

    Have you purchased additional plant and machinery since you arranged the cover? If so, is the level of cover enough to replace these things should they be destroyed in a fire or stolen?

    As your business has expanded, have you increased the levels and value of stock that you carry on the premises? If so, have you also increased the level of cover within your motor trade insurance?

    Is the level of employers liability cover adequate should you be subject to a claim by an employee who may have been seriously injured whilst at work?

    Is the level of public liability cover sufficient to meet any claim that a member of the public may bring against your business say due to slipping on the floor at the business premises and injuring themselves?

    You may wish to get one or more competitive quotes if your existing motor trade insurance policy is shortly coming up for review. There are many insurers all of whom will probably be interested in taking on your motor trade insurance so you may be able to get the required level of cover but for a lower premium than you are currently paying.

    It doesn’t take too long to get one or more comparison quotes so why not do so via our website as we provide access to a number of different insurers. We look forward to being of assistance.

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