Understanding Motor Trade Insurance Under 25 For Entrepreneurs
There aren’t many business ideas which are age restrictive in the UK. When it comes to motor trade insurance for under 25s the entrepreneurial spirit can often get a hit. In an era of age discrimination laws it is unfortunate that insurance companies still can’t see past statistics. Though this is how insurance risks, claims and pay outs are calculated.
Whether you are seeking motor trade insurance under 25 years of age or an MT insurance policy for a forty year old, both parties require similar coverage, so why the disparity? Statistically, young drivers under the age of 25 present a higher risk financially to an insurer than that of an older person with more years of driving knowledge behind them.
More prone to crashes, less aware to dangers on the road that a more experienced driver may know how to avert. This scenario doesn’t take into account the state of mind of a business owner however. Seeking to set up in the motor trade business as a mechanic, windscreen fitter or offering a valeting service. You would imagine that a responsible adult, looking to venture into self-employment and apply their skills in the motor trade circuit would be seen as a break from the normal age group risks.
Well at Evans and Lewis we fully understand the predicaments faced by an 18 to 23 year old trying to buy and compare motor trade insurance under 25 quotes for yourself or a new company employee. We have trodden this path many times before with young drivers and we have ideas and solutions to not only get you covered, but for the correct amounts.
Motor trade insurance under 25 years of age can be all encompassing, though it may come with certain restrictions which may or may not affect your future business activities. For instance:
A specialist motor trade insurance under 25 policy may restrict your hours of driving between 11pm and 5am. Might require for there to be an additional signatory of older age. Or simply require you not to drive vehicles over a certain horse power.
When it comes to attaining cover, knowledge and experience is key. If you can show to an insurer that you are responsible, have taken advanced driving courses and are more adept to dealing with road risks, a cheaper motor trade insurance under 25 quote may be available.
The obvious solution for any entrepreneur seeking out self-employment in the motor trade is to get sole coverage. Though employing someone to do the driving on your behalf while you undertake maintenance, repair and installation activity or remaining on site at the business premises may provide a workable insurance environment.
Not all in the motor trade require road risk cover. If you are a mechanic on site, 18 years of age, you may not need to drive company vehicles or operate breakdown vehicles at all. Therefore motor trade insurance under 25 years of age will be a simpler process. Policies tend to cover for contents, tools, equipment, public liability and cover for buildings and premises in the event of fire, third party damage or theft.
Complete our thirty-second enquiry form for a free motor trade insurance under 25 quote or call and we will work to find a solution directly applicable to your business situation. Young people should be rewarded for their innovation, not held back from starting their dream business.