Motor Trade Insurance

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.

You may be interested to read that, according to the Car Insurance Price Index, the average premium for car insurance rose in the 4th quarter of 2021 to £539 per annum up from an average of £514 per annum in the previous quarter. That is a rise of an average of £25 per annum. It is still an average of £36 per annum less than it was a year ago when premiums averaged £575 per annum.

It continues to be young drivers who, on average, pay quite a lot more to insure their cars then say a 50 year old. For instance, a 17 year old paid an average of £1,206 per annum whereas a 28 year old was charged an average of £792 per annum. The main reason for this difference is because it is younger drivers who are more likely to be involved in a road traffic accident and this is reflected in how much they are charged by motor insurance providers.

Another factor in how much insurers charge is where you live. For instance, if you reside in Inner London you can expect to be charged more for your cover than anywhere else in the UK.

If your existing motor trade insurance is coming up for renewal in the next few weeks, why not get in touch with us with a view to getting a competitive quotation without any obligation to proceed. It is a quick and simple process. We look forward to hearing from you.

No Comments »

No comments yet.

Leave a comment

Mailing List

To get the latest news and offers from MTI, enter your email below.

Subscribe to the Mailing List
FacebookTwitterGoogle PlusLinked In