Monthly Archives: September 2010

Cover Yourself For Extra Work With A Traders Insurance Policy

Are you in the motor trade and fancy earning extra cash by doing a bit of work from home? Then maybe now is your time to starting making some more money!

A frequent question asked is  what occupation do you need to qualify for a Motor Trade Insurance policy. The answer is – most occupations related to the industry do apply. Whether you do body repairs, change tyres,  mechanical work, wash cars or even break vehicles we can cover you.

As someone in the trade it’s almost a sure thing you’ll be asked to carry out private jobs for people in the local area and obviously it is an extra revenue stream. The problem is that you may be a bit worried in case anything goes wrong – are you insured? Well, a traders policy is what you need. With such a policy you would be covered to drive someone else’s vehicle for motor trade use, but also you can generally add on your own vehicles for no extra charge!

The beauty of a Motor Trade Policy is that you can also cover your customer’s cars to a higher level than your own. Eg  you can add your own vehicle to the policy  - say around £10,000 value – but you may work on vehicles worth £20,000 or even £30,000 – you can split the indemnity whilst keeping the cost lower than having a full higher indemnity. A useful way of saving money on your insurance premium!

You may also like to think about other associated products such as public liability and sales & service liability. This covers you against the liabilities that may arise from a legal dispute with a client following an incident or accident.

In these times of financial austerity having a secondary income is a no brainer – and since there is a huge number of vehicles in the UK there should be no reason why you can’t succeed however big or small your business may be. Just make sure that you have the correct motor trade insurance to cover you for the work you are going to be doing.

Think Insurance, Quality Service and Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Your Motor Traders Insurance Could Cover You For A Speeding Ban

A Motor Trade  Insurance Policy should satisfy most of your needs but you should also consider the additional products your broker can provide. There are a whole range of extra tools which may be of interest to you apart from the free help and advice. An excellent example of this is a Camera Guard Policy.

Aren’t we all fed up of seeing these speed cameras? Most of us think they’re a blight on the landscape at best. You add speed cameras to the local constabulary’s vigilance and lets face it these days the majority of us out there have got a speeding conviction! Well if you are in this situation this may be of more than a little interest to you.

What this policy covers is if you receive a ban from a speeding conviction it will financially compensate you. The maximum ban covered is for 6 months long. A camera guard policy covers you for the 6 months - paying you up to £1000 a month in cover for alternative transport whilst you are banned . This can be in the form of any public transport, a taxi, or even if you need to add a driver onto the policy in order to carry on with your motor trade business. You can employ someone to take you to look at cars you want to buy and bring them back – that’s right this policy would cover it!

Getting banned from speeding is an increasing risk, with more and more convictions every year. If you already have a few points lurking on your licence then can you really afford to not have a policy like this?

With this type of cover available from just £24.99 for the year there really is no excuse if you want peace of mind that if the worst happens you can still carry on.

Ask us about adding a Camera Guard Policy to your motor traders insurance today. Think Insurance, Quality Service and Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Motor Trade Insurance Road Risk Indemnity

Thinking of getting a Motor Trade Insurance Policy but however hard you search for an affordable quote you can’t find one? Then you’re not alone and this could be why - your Indemnity level is the stumbling block!

If you are repairing, cleaning or working on vehicles for a living look at the cars you have dealt with in the past. What value are they? If there aren’t generally cars worth more than £10,000 then you may not need what’s called “split indemnity” and the price differential will be low anyway (although it’s always worth asking!).

So, lets talk about split indemnity policies. Is your own vehicle worth less than the vehicles of your customers?  A split indemnity is as simple as it sounds: you have one indemnity level for your personal vehicles and another for your customer’s vehicles. So if your vehicle is worth less than £10,000 and your customers vehicle’s could value up to £30,000, you don’t have to have a £30,000 indemnity – you have an indemnity level of £10,000 for yourself and £30,000 for work. This works out a lot cheaper than having to purchase a £30,000 policy. You can save literally hundreds of pounds with this neat little trick!

If you think a split indemnity policy may be suitable for you ring your Motor Trade Insurance broker today for free friendly advice. Remember – if your broker doesn’t do split indemnity you could end up paying more than the rest of the trade.

Think Insurance, Quality Service and Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Part Time Motor Trade Insurance For Sellers

There are  people around the country that sell just a small number of cars throughout the year. They are not selling as a full time occupation and may just be doing it to earn themselves a little bit of extra cash (with the economy how it is who can blame them!). Others simply love the buzz of selling cars. Whatever their reasons for doing so, the fact that they are involved in trading/working with cars on a regular basis means that they could be classed as working within the motor trade – this means that they should have a trade policy to be correctly covered in the event of a claim. This doesn’t mean that they need to pay for a full blown traders policy with all the bells and whistles but it does mean that they can be covered for their own and other people’s vehicles. (Always subject to terms and conditions of course!)

You will usually find that taking out one of these so called “part time” policies means that you can still get all of the added benefits of a full time one. You should  still be allowed to make additions to your  cover so that you can add demonstration use, stock of vehicles or public liability for instance,  to make sure that you are insured for all relevant risks. People that are working within the trade, but only on a part time basis, should not be discriminated against because of that fact but this can sometimes happen. Some insurer’s will see them as being a higher risk than someone doing it as their only job for various reasons – but why should this be the case?

In summary -If you are currently selling cars in addition to your  everyday job then you should make sure that you do things properly and find yourself an understanding  insurer. Easier said than done I hear you say? Choosing a broker that can offer you a tailor made policy for your specific situation means that you will end up getting a much better deal, and a fairer price. Taking out a part time traders insurance policy shouldn’t mean being ripped off – so it is best to consult with a knowledgeable broker to find out exactly what is best for you and how they can help.

Think Insurance – Quality, Service and Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

The Importance of Small Business Insurance

If you are involved in the running of a company then you will have plenty of things to think about on a daily basis.. You may have to think about getting stock in, meetings with suppliers/potential customers and a whole host of other things that directly impact on the success of your business. However, one thing that you must make sure that you deal with straight from the beginning is getting yourself the correct small business insurance policy. You don’t want to go out and just choose the first option that you come across, the policy should meet all of your requirements – so it may be worth putting in some effort for your search. What exactly should you be looking for though?

The policy you take out will ultimately depend on the type of business that you are running as different levels and types  of cover may not necessarily be needed for some industries. One of the major things to consider is public and employer’s liability cover. If your work involves any members of the public coming to your workplace, or you going to them to carry out work away  then this is an important addition. Taking this out means that you will be protected in the event of any accidents or injuries that could  occur. For smaller businesses a claim as a result of one of your customers being injured could be disastrous if you are not correctly covered. On the other hand, employer’s liability insurance is a legal necessity and leaving this cover out can lead to court proceedings – not what you need to be worrying about when concentrating on making your business profitable.

As well as the various types of liability cover that you may need, there are also other types that may turn out to be extremely valuable to your company. Business interruption cover can be very useful to have as this will protect you in the event of you being unable to trade for  forseen, and unforeseen, perils such as flood or restriction of access. Also, if you have any stock at your premises then you should look at getting contents/stock cover added to your policy. Taking out this option means that you will be covered in the event of any theft or damage to your stock and any other covered property that you hold within the building.

All in all, a company should spend a bit of time making sure it finds  the most suitable small business insurance policy. If you are unsure about anything, or would just welcome some free, expert advice associated with taking out cover then you should make sure that you speak to a qualified insurance broker.

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.