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Motor Trade Insurance | What Levels of Cover Are There?

In this step-by-step guide of Motor Trade insurance we’ll be looking at what levels of cover are available to your average motor trade businesses, and we’ll give you step-by-step guidance on what type of cover is the right fit for your company and budget. For example, if you’re looking for step-by-step guidance on finding a level of insurance that helps you save money, we will be looking into that. We will also discuss how you can save money by searching for insurance online as well as using the motor trade community to your advantage when looking for insurance.

What Level of Motor Trade Insurance Cover is Right for Me?

Only you know the answer to what level of insurance is right for your motor trade company, and it can all depend on your budget. However, in saying that, there are three main levels of cover to choose from; Third Party Only, Third Party, Fire & Theft, and Comprehensive. There are also two motor trade insurance specific levels of cover that run alongside the three levels of cover shared with Car insurance, and that is Road Risk Only and Combined insurance. If you’re looking to save money and that’s your only goal then a Road Risk Only policy with Third Party Only cover may be what you want for your motor trade business.

Speak to Other Members of the Motor Trade Community

When looking at what level of cover is right for your motor trade company you will have probably done some research online, looking at similar blogs and posts to the one you are reading right now. Whilst that type of research can give you an idea of what level of cover is good for your business, speaking to other members of the motor trade community may give you an even better idea. Search for motor trade forums to access the motor trade community online and look for any networking events locally to engage with the motor trade community offline.

How Can I Save Money on My Insurance?

Saving money is an integral factor of running a successful business, and there are ways you can save money when it comes to your insurance. After thoroughly researching what level of cover is appropriate for your motor trade business and speaking to members of the motor trade community, you should have a good idea of what sort of things in your motor trade business need insuring. Now this isn’t the time to cut corners in an effort to save money, because whilst you may initially save money on your insurance premium you may find yourself out of pocket down the line because you didn’t get insurance cover for a certain aspect of your business just to save a few pennies!

Find Insurance for Your Motor Trade Company Online

When looking at what level of cover is right for your motor trade business you should not only be looking at where to find the best cover, but where to find the cheapest and right cover. This is where you can utilise the motor trade community online, to find recommendations and read about experiences with different insurance companies. By using the online forums you’ll be able to get a wide perspective from motor traders up and down the country. You can also search for Motor Trade insurance quotes online to see what sort of prices your motor trade insurance may cost your company.

Conclusion

Hopefully you’ve found this step-by-step guide to what levels of cover are available for motor trade insurance helpful and figured out what level of cover is right for your company. However, if you are still unsure then you should seek out a motor trade insurance expert to help you decide what level of cover your business needs. Find and speak to a reputable specialist motor trade insurer such as a Motor Trade insurance broker, who will not only have the knowledge to help you decide what your company needs to be absolutely covered, but they even have access to insurance rates you can’t find yourself online.