How much does trade insurance cost ?
Every year, motor traders, realising that renewal time has swung by again, ponders how much does trade insurance cost a haulier or an MOT Centre or a part time hobbyist? Often enquiring whether they should stick with their current insurer or apply somewhere new. There are ways to save and sometimes moving is the best option. the industry like with most vehicles came up with the no claims bonus. A fully transferable reward scheme that allows motorists to get money off for not making a claim for one, two, three or more years. Though when traders hit the internet to compare motor traders insurance premiums online, they sometimes find existing renewed policies are dearer.
Why? The main reason is this business does not offer off the shelf insurance coverage. for the simple reason that most business have one less item to cover or a few bits more. Take for example a new Breakdown Recovery service with a new truck, but second hand tools. Versus a company with 20 years standing, old truck and high end tools and machinery. The former is part time while gaining contacts, while the latter operates from an established business premises. one requires part time coverage with the same liabilities but higher replacement truck cost, the other has combined motor trade insurance policy, higher liabilities and additional employee cover. Each and every motor related business is different.
Some require goods in transit insurance, some for fresh vegetables that could spoil, others for transporting luxury cars which would cost millions to replace after a collision. Work that is carried also needs to be covered by indemnity insurance. The find out more information about this product follow the link. The cost of which will vary between a person washing a car window, to replacing a window, to pulling out and replacing an entire exhaust system. Ask how much does trade insurance cost? You’ll need to compare trade insurance online against a raft of current offers, taking into account your current renewal deal of course. You could do this yourself, taking time to compare each particular, the limits of sums valued and trying to understand the legalities of each. Or do what most do and ask a specialist broker to compare trade insurance deals on your behalf. Which is by far the quickest and simplest option to choose. The cost of this insurance depends on your business needs. The least coverage may be cheaper when it comes to monthly premiums but could cost you dear after a claim is made.