Although there are many companies pointing you towards cheap car insurance deals, from a traders point of view you must take extra care to make sure you get the right deal and correct cover for your business, in a motor trade insurance policy. You should never just dive in and go for the cheapest quote you can find, as the likelihood is that these policies will not cover you against all the options you might want or need. In doing this, you leave yourself and your company open to the possibility of a serious claim being made against you, and you simply not being able to cover the costs, as your insurance company won’t do it either.
While you might not think you need various extra options added to your policy, and you can make do with a standard policy, chances are that some of these options will be relevant and could cover your employees against accidents made when with customers (for example), or similar. What could be deemed as an irrelevant expense might go on to prove incredibly important, in the event of an accident or unexpected circumstance.
Make sure you invest some time into researching what insurers provide in their policies, and make sure that everything you may do in your work is covered against. For example, Car Salesmen normally consider Demonstration Cover to be essential, otherwise without it, potential buyers will not be able to test drive the cars, unless they have their own policy allowing them to drive other vehicles.
The best advice we can pass on is to speak directly with a broker with viable experience on policies relating to your line of work. They will be able to source the best deals which can be altered and tweaked to offer you the services and cover details your company needs. Always think carefully about what you need your insurance policy to cover you or your business against, and put in the effort to make sure your policy is watertight.
Taking these simple but important measures will leave you feeling safe in the knowledge that your company and assets are fully protected, and allow you to get on with running your business and making money.
Always remember that although cheap motor trade insurance policies might be appealing, the more expensive ones will normally provide you with more extensive and comprehensive cover, and as such, are an important part of your business model which need to be considered properly.