All businesses throughout the country are looking for ways to reduce their overheads.
Lowering expenses means higher profit margins, so it's important for company owners to search and find the best motor trade insurance deals that offer the best level of cover at the lowest possible premium.
Whether you're in the process of starting your own motor trade business or you're looking to find a new policy, it's advisable to get some quotes before making any decisions.
There are a number of insurance companies offering insurance to motor traders, ideally you want an insurance company that specialises in your industry, which will understand your company requirements and assist you in finding the best level of cover to keep your company protected on a daily basis.
It's always a good idea to get a minimum of three quotes.
Get the quotes in writing.
This way you can sit down and read through each one to determine if you are getting the best possible deal.
The best way to achieve this is before looking for good motor trade insurance deals you should conclude a thorough risk assessment of your business.
This gives you a guide to work with when determining which of the quotes is the right one for your business.
The internet is one place where you can obtain quotes, another option is to speak to other traders in your area and see who they use for their insurance needs.
With your three or more quotes in hand you can start reviewing the quotes.
Be aware, when you obtain quotes online, sometimes you are only offered the bare minimum when it comes to public liability cover.
Another thing you find when obtaining quotes through comparison sites, is that you are only offered third party cover for driving customer vehicles, which as you know is not enough.
You need to review each quote thoroughly, comparing it to your risk assessment.
Contact the insurance companies that offered the motor trade insurance deals and amend the quotes to meet your immediate requirements, this may be increasing the public liability amount or changing the road risks to fully comprehensive.
Once you have made the amendments you can compare the quotes to the others, comparing the quotes lets you see what each company is offering in terms of insurance.
You may find some companies will offer less for more, while others will offer a host of additional covers, which will be beneficial in the long run, such as loss of income cover.
It's very important that you remember that the cheapest quote may not be the right choice for your business.
You want the best level of cover to protect your business on a daily basis.
Once you get to one quote in your hand that seems to tick all the boxes, you'll want to ensure the company is reputable and reliable with a quick and hassle free claims process.
Finding motor trade insurance deals is easy, but you need to read through customer reviews to ensure that the company does what they say they do.
The best place to find information on the company offering the best motor trade insurance deals is on the internet.
Read through forums, speak to other traders and when you're completely comfortable that they do what they say on the tin, then you can make your final decision.
Remember that you want complete coverage for your business when obtaining motor trade insurance deals, this should include your building, tools, liability cover, road risks, demonstration cover if you need it and then any extra cover such as loss of income or cash protection.
Having gone through the process and coming out with one quote that stands out from the rest, you can sign on the dotted line and enjoy the fact that your company now has the protection it needs to operate safely without added risk.