Motor Trade Insurance

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.

The cost of insuring such vehicles is likely to be a significant business expense and, in the current pandemic, you will no doubt be trying to contain your outgoings.

You will be pleased to read that, according to the car insurance price index, the average cost of fully comprehensive cover has fallen when comparing the second quarter of 2020 with the first quarter of 2020. In the first quarter of 2020, the average amount paid for such cover was £809 per annum. In the second quarter of 2020, the average amount paid for such cover was £770 per annum. That is a drop of an average of £39 per annum that equates to a fall of 4.82%.

We are sure that motor traders will agree that if the cost of motor trade insurance policies were to have fallen by a similar percentage that is welcome news.

There are numerous providers of motor trade insurance policies so, if your existing policy is shortly coming up for renewal you may wish to shop around to try to get the level of cover you require but for a lower amount than you are currently paying. If you are considering setting up in business as a motor trader then you may also wish to do the same thing.

In this respect, why not get in touch with us at your earliest convenience and we will do all that we can to assist in obtaining a competitively priced motor trade insurance quotation without any obligation. We look forward to being of assistance.  

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