MSN Business Directory How do I qualify for a motor trade insurance policy?


Qualifying for a Motor Trade Insurance Policy

In order to qualify for a motor trade insurance policy you will need to ensure that you are able to provide documentary proof that your business operates within the motor trade industry.

Your business must be related to vans, motorbikes or cars whether in a selling or servicing capacity in order to for it to be a qualifying business when applying for a motor trade insurance policy.

As with any insurance policy, before entering into a signed agreement with a new provider, it is important to fully compare the policy against any existing cover to assess the like for like factor and make sure that you will be getting the same if not better levels of cover, for the same if not less monthly premium.

You then need to factor in the following points:

  • Exclusions. Certain types of vehicles are often disregarded by motor trade insurance policies, so double check that the vehicles within your business would be covered on the policy before committing to a 12 month contract of insurance.
  • Second Jobs. If the motor trade business is only operated part time, and your main job is actually in another field, it can impact on your ability to obtain motor trade insurance, it is important to be truthful when answering all qualifying questions, as failure to disclose any material facts may invalidate the policy in the event of a claim.
  • Benefits. Whereas many private car insurance companies include benefits such as windscreen cover or courtesy hire car, most motor trade policies do not offer these. Make sure you fully understand what the policy comes with.
  • Trading Location. Any damage or loss to vehicles maintained whilst sited on business premises is not guaranteed to be covered by the motor trade insurance policy.
  • Vehicle values. When any claim is processed under the motor trade insurance policy it is more often than not processed at the trade price of the vehicle in question.

Here at Insure Motor Trade we are UK based and fully comply with all insurance regulation.

We specialise in offering competitive unbeatable quotes for road risks, and providing full protection. It is important to get a tailored quote that matches your needs for a motor trade insurance policy to enable you to make an informed choice.

They can produce an easy to understand costing, with flexible payment options. Some will guarantee to protect any existing no claims, and offer both driver and multi vehicle policies.

Policies should be tailored to the individual needs and specifications of the client, following a detailed conversation to ascertain the cover currently held, cover you are looking for now etc.

When you are shopping around for a motor trade insurance policy, it is important to gather all of the quotes ensuring that like for like has been quoted to allow you to compare the policies and decide which one is not only most cost effective but also most appropriate for you and your business needs.

If you like this you may enjoy:

March 10, 2014