How to save on your motor trade insurance online in 3 easy steps

There’s little doubt about it, if you are in any way involved in this sector of the market, motor traders’ insurance offers the protection you and your business needs against potentially very expensive risks.

As any savvy businessman, however, you have an eye on controlling every aspect of your operating expenses, and that means a concern to save money on motor trade insurance.

By going online, here are three easy steps to doing just that:

  1. Be wary of comparison websites

  • it is commonplace these days to make purchases of goods and services via the internet – and this may still be one of the most popular ways of obtaining many types of insurance too;
  • when looking for ways to cut costs, many people may be tempted to use a comparison website;
  • be aware, however, that the Competition and Markets Authority (CMA) has had concerns about the fairness and reliability of comparison websites in general and, on the 26th of September 2017, released new rules about the way they must operate to stay within the law;
  • in other words, comparison websites may not offer an easy or cost-effective route to selecting motor trade insurance online;

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GAP Insurance – what is it and do you need it?

It can seem these days as though there is insurance for everything. Car insurance, life insurance, pet insurance – the list goes on.

So when you hear of another insurance policy it’s easy to make a knee jerk reaction about it. Usually this reaction is “not another thing to pay for”, but for other people it’s “well I don’t really understand it but I should probably just get it anyway to be on the safe side”.

Neither of these reactions is good. You should never pay for insurance unless you understand it and are sure you need it, but equally you shouldn’t just dismiss it without proper consideration.

GAP Insurance

GAP insurance is one such product you should think carefully about. Guaranteed Auto Protection is an additional type of insurance that you can take out when you buy a car with a loan. When you buy your car, you take out a loan based on the value of the car at that time. But your car will start to depreciate in value the moment you drive it out of the dealership. If your car gets stolen or written off, your car insurance will cover you but they will only pay you what your car is worth now, not what it was worth when you bought it. So if your car was worth £8000 and you took out a loan for this amount you will still be liable for the full amount of the loan but your insurance company will not pay you the full £8000.

GAP insurance quite literally covers the gap between what you owe and what your car is worth. This can sometimes be thousands of pounds.

You should consider GAP insurance if:

  • You want peace of mind that should something happen, you don’t have to worry about finding the extra money to pay off the loan.
  • Your car is quite expensive, new or a luxury car – these depreciate in value faster than other cars.
  • You don’t feel confident about where you park your car and worry about it being stolen.

If your car has a low depreciation value or if you really can’t afford the additional payments, then consider GAP insurance policies carefully. As with all insurance policies, it could end up being something that never pays out, so some consider the “dead money” to be a waste. However it is important to consider that having a car stolen or written off is a stressful enough situation without worrying about money too, so the added financial protection really can be hugely helpful.

Why Yes, You Do Need Motor Bike Insurance

The thrill of riding a motor bike just can’t be beat. When the weather is nice, a motor bike gives you a type of freedom that normal motorists just can’t really understand. But you know what you want, right? You want that thrill and you want to make sure that you’re covered for any circumstance that might arise. Even if you’re a careful motor bike operator, accidents can and do happen. The weather can be a factor, but you also want to think about all of the other things that can really go wrong with while you’re on the road. Do you really want to leave that type of thing to chance? Not at all.

Yet so many people go with the most basic motor bike cover that they can find. Is that something that you should do, always? Not at all. You are much better off looking at the exact coverage that you really need. This would include raising the amount of money that would be paid out in the event of an accident. Do you really want to skip over supplemental money that you can use to cover from a major collision with a regular automobile? Not at all!

Motor Bike Insurance

If you’re going to get the best coverage — and not just in price, but in true cover — then you have to go online. There are a few benefits of going online for your insurance needs. One, you’re going to get the exact cover you need without running around town looking at the high street. That’s frustrating to anyone. You also fall more easily to advertising that’s supposed to lure you into thinking you’re getting the best deal. You might feel tired and not really looking to shop around. This makes it even more tempting to fall prey to ads that just don’t serve your needs. It’s much better to make sure that you’re looking online, where you’ll have a wide variety of different quotes to choose from.

Make sure that you’re as honest as possible when you’re filling out quotes. Some people get tempted to make themselves look better on paper. Honestly, in this day and age… an accident isn’t the end of the world. While some insurers will ding you severely for it, others realize that everyone is entitled to at least one mistake. That’s fair, right? You might not always be able to avoid collisions, but keeping a fairly clean driving history helps. In addition, don’t forget that time tends to heal everything — most insurers will only require that you go back 5 years. Everything before that is wiped clean, so to speak. This means that even if you’ve had some driving problems in the past with your motor bike, it doesn’t mean that you’re going to be stuck dealing with them forever.

Once you find the right coverage, you can purchase it right online. Be sure that you have a chance to really look at the fine print to make sure that you’re getting exactly what you’re looking for. We’ve said that a few times but it really does bear repeating. You have to really think about not only saving money, but having a policy that’s truly worth having. Good luck with everything that you have ahead of you and don’t forget to enjoy the ride!

1 Day Car Insurance

As you may well already know, car insurance in mandatory in the United Kingdom, unless of course you don’t intend driving you vehicle on any public roads. What many people in the UK don’t realise is that even if you’re simply driving a new car from the showroom to your home, you still need adequate insurance in place.

Perhaps your home is only a mile and a half away from the showroom, but if you get stopped by the police, and you don’t have insurance, they will treat you the same way they treat all drivers who get caught without insurance. In other words, you’re going to get a fine, you’re going to get points against your license, and they are not going to allow you to drive the car away either. Bear in mind that if this happens to you, insurance is likely to cost you more than it would otherwise have, simply because you will already have what they term to be a poor driving record.

1 Day Insurance Options

Now, even though the law requires you to have insurance, you do however have several options available to you, each with its only set of benefits. For example, at the very bottom end of the scale you have third party, fire and theft cover. This cover is the cheapest and most basic. Generally speaking, it covers you against fire damage and/or theft and it also covers any damage to a third party’s property. For example, if you were to hit someone, this type of cover would pay for all damage to the other driver’s car, but it will not cover the car you were driving.

Distracted dangerous driving

On the opposite end of the scale you get fully comprehensive cover. This is the most expensive form of cover, but has the most benefits. Basically, fully comprehensive cover covers virtually everything. If you’re in a collision, you insurance company will pay for all repairs and/or replacements concerning both your own car and the other person’s car. Depending on what exactly you’ve opted in for, this type of cover may very well also cover any belonging you may have had in the car, whether they got damaged in an accident, or whether they got stolen from your car.

Of course, even though insurances policies are much the same, irrespective of which insurance company you choose to use, the cost of those policies can vary tremendously from one provider to the next. Shockingly enough, the difference can amount to hundreds of pounds per year. When it comes to temporary insurance, or at least 1 day insurance, the difference in rates can be even more staggering.

Example of getting 1 Day Car Insurance

Why would anyone want or need 1 day car insurance? Buying a new car is just one example. Another example would be if you intend purchasing a secondhand car, but you plan to carry out quite a bit of work on it before actually taking it on the road. 1 day insurance would allow you to legally drive the car home, and of course then you also would be paying for insurance even though you’re not even using the car. Perhaps you don’t own a car of your own, and a friend has told you that you can use his or her car over the weekend. Just because you friend has insurance, that doesn’t mean you’re entitled to drive under their cover, unless their policy includes “all drivers”, which is not very likely because such privileges cost quite a bit extra.

Temporary cover or 1 day cover can also sometimes save you money if you intend hiring a car, but here again, a lot depends on who you get your cover from. Don’t for a minute assume all the large insurance companies are out to offer you a great deal. To the contrary, many insurance companies don’t like providing 1 day cover simply because when that cover expires, you could end up going elsewhere. As such, they would much rather have you sign a one year contract. To stay competitive, they have to offer short term cover, but that doesn’t mean they want to.

If for whatever reason, you require temporary insurance or 1 day insurance, it’s always best to look for a provider that actually specializes in this type of cover. This is what they do, so they don’t really have any reason to bump up the premiums just to make longer term insurance seem more appealing. Quite often, insurance companies will say that drivers requiring 1 day car insurance pose a higher risk, but here again, this is nothing more than a feeble attempt at justifying over-inflated rates.

Do’s and Don’ts of choosing motorbike insurance

Choosing bike insurance is like a voyage – in the same way that you create a new journey each time you ride your motorbike. Whether you are looking for a new insurance policy that is affordable for you or you want to find a motorcycle insurance policy for a specific bike, we have made a handy list of do’s and don’ts that will help you whenever you are in the market for motorbike insurance, there is probably lots of help at the financial ombudsman site also:


• Shop around for the best deal especially if you are choosing classic bike insurance. The idea of avoiding overpaying for a classic bike is bound to be on your mind so don’t overpay on insurance either. Use our service to find cheap classic motorbike insurance that will not break the bank.

• Ask your insurance provider about how much legal protection you will receive. Many providers can give you motorbike legal cover of up to £100,000.

• Find out the ins and outs of your no claims discount feature on your insurance policy. Does it included a protected no claims bonus? Look for the answers you need before you buy your next policy.

• Pay monthly if you can only afford to pay monthly – insurers are aware that many people live on strict budgets so you should not feel too squeezed with low premiums on a variety of motorbike models.

• Pay yearly if you want to have a discounted price off the insurance. Some insurers provide discounts that can sweeten the deal if you have just paid for your motorbike with a lump sum.

• Take female motorbike insurance if you are a woman. The numbers do not lie and statistics show that women tend to be safer riders than men when it comes to motorbikes, which adds lower insurance premiums onto the table.


• Think that insurance call centres are not based in the UK! Many insurance providers have UK based call centres that can answer all your queries without any issues.

• Insure only one motorbike if you have plenty of bikes in your portfolio. Insurers are now giving riders the chance to have multi-bike insurance policies under the same name which is guaranteed to give moneysaving returns to you.

• Be alarmed if your motorbike breaks down and you think insurance will give you a hard time. A typical feature of insurance cover is UK breakdown protection at the least. This will give you peace of mind as you explore the country with your bike.

Overlooked Ways to Lower Your Auto Insurance

If there’s one expense that we love to gripe about, it would definitely have to be car insurance. Indeed, auto insurance becomes the number one target because most of us feel that it’s unnecessary. After all, if you’re a good driver then why would you ever really need to worry about getting into an accident and thus needing the car insurance to kick in? However, no matter how you feel about the process, you’re going to have to still pay those payments every month. It’s not just something that’s nice to have — in order to drive your car legally you must pay auto insurance. Yet what ends up hurting people is that they really don’t look into all of the different ways that they can save on their vehicle insurance. They think that it’s hopeless to fight against the rise in insurance rates, but that’s where you’re wrong.

In order to understand why you should look for the best rates, an explanation of the insurance industry is in order. You see, the entire industry is based on one principle; risk management. This means that you might feel pressured to just take a rate because you need insurance, but you can always try to save money by simply lowering your risk.

The number one issue that insurance companies worry about when it comes to your car is safety. The company doesn’t want to have you get into an accident because that means that it’s going to have to pay out on a claim. In order to remain profitable, insurance companies have to limit the number of claims they process. If they process too many of your claims, then they’re going to raise your rates. It’s a simple formula that means you have a little more control than you think you do. For example, you can take a driver safety course online or at any of the local learning centers in your state. This is one thing that you will want to go offline for. Some insurance companies are really picky about this. In addition, you can also take other advanced courses that will help you actually learn a little bit more about how to be a defensive driver. These classes are designed to help you lower your risk of getting into accidents — the exact thing that your insurance company wants to see happen. The avoidance part, of course.

Another point that you will want to consider is trying to keep your driving record as clean as possible. If you’re a driver that never gets into accidents, then you’re going to get a discount because of your safe driving record. If the insurance company doesn’t make a big deal of this, then it will be up to you to really make sure that you let them know how important your driver’s record is to you. As you can imagine, you can step up and let the insurance companies know what matters to you. The last thing that you will want to do is just take anything that comes your way. In order to really get things done, you’re going to have to get a little aggressive.

If you’re currently a good student, you’re going to want to point this out as well. Now, you might have to send in proof that you are a good driver, a good student and you’ve taken an accident prevention course or two. However, it’s well worth it when you start thinking about the discounts that lie in wait for you.

Safety isn’t just about avoiding accidents — it’s also about avoiding theft too. Remember that your auto insurance company is going to have to pay out for any losses you incur when your vehicle gets broken into. That’s why they like for you to also get better anti-theft device son your car. VIN etching, alarms, automatic disabling and other safety features are a good step in the right direction. So if you have those things, you will truly need to bring it to the insurance company’s attention. Even if you’re requesting a quote online, you’ll want to still give them a call and make sure that you’ve covered just about every discount that they have.

This also includes any employer-based discounts or even alumni association discounts that you might be eligible for. The networks that we belong in socially can save us money — even when we don’t even realize it. So if you know that you belong to an organization that counts, definitely let the company know that. Some insurance companies even offer deep discounts if you are a first responder of any kind, so don’t count out your job either!

There are a lot of different discounts out there, and these mentioned in these guide are some of the most overlooked ways to save on vehicle insurance. Why not take action today and start looking online for multiple insurance quotes? You don’t want to delay another moment!

Why It’s Important To Insure Your Vehicle

Since the advent of the Road Traffic Act in 1988, insuring your vehicle for driving has been an unambiguous and unarguable must. Given the range and choice of insurance policies available, to fail to do so is not only grossly negligible it is also extremely dangerous to both yourself and other motorists.

Approximately a third of Britons choose not to buy insurance with their vehicle. Statistics released by the Motor Insurers’ Bureau (MIB) show that around 1.4 million motorists are thought to be uninsured. An estimated 23,000 people are injured and 160 killed by uninsured, and often untraced, drivers every year. The cost of uninsured drivers to insurance firms stands at £500 million a year and increases each individual’s annual premium by an average of £30.

There are typically three types of vehicle insurance available. First, there is basic third party cover, legally the minimum insurance required. Third party covers you for damage caused to other people or their property during an accident. The second type of premium available is third party, fire and theft. Again, this covers damage to others and their property while also covering your vehicle for damage sustained during a theft, attempted theft or fire. If the vehicle is stolen and unrecovered, or lost in a fire, then the insurance company will pay you the value of the vehicle at the time of the accident. Finally, there is the all-encompassing safety net of comprehensive insurance cover.

Taking out a comprehensive premium is, of course, the most expensive form of insurance; it could, however, be well worth paying the extra pennies. As well as providing all the cover available in the first two categories, comprehensive insurance also protects your own vehicle against any problems sustained during an accident, even if you are at fault, as well as any malicious damage. Most comprehensive policies will carry an excess which is an amount you agree to pay towards any claim. If, for example, you make a claim for £1,000 and your excess is £250, you will be required to pay the first £250 of the claim and the insurance company will cover the rest.

Most premiums frequently offer a range of optional extras, enabling you to tailor your cover to suit your own specifications. These extras typically include breakdown cover, travel in Europe and using other vehicles with the owner’s permission.

One way to bring your monthly premium down is to offer to pay a higher voluntary excess. Typically, the more towards a potential claim you are prepared to contribute, the lower your monthly bill will be. Insurance premiums are affected by a variety of factors. Insurers will calculate a total amount by evaluating a person’s ‘risk level’. This is concluded by considering things including your claims history and driving record, therefore a clean licence and a no-claims history will benefit your quest for cheap car insurance.

Providers will also evaluate your personal circumstances, the amount of time you spend on the road, your home address and your parking arrangements. Again, savings can be made if your car is parked in a secure, locked garage or if you live in an area with low crime statistics and few potential accident ‘hotspots’.

Driving a vehicle on a road or public place without a minimum of third party cover is illegal. The consequences are typically a fixed penalty notice which dwarfs the cost of any premium and police involvement. Points on your licence are another potential punishment. For both legal and safety reasons, insuring your motor is a must; it needn’t, however, cost the Earth.

It’s well worth taking the time and effort to establish exactly what insurance you need before thoroughly researching the right cover for you. Doing so will avoid unnecessary expenses and enable you to travel the roads in safety.

The Young Driver’s Insurance Dilemma

Car insurance for young drivers is expensive for at least one compelling reason and that is motoring for the young is extremely dangerous. Social commentators have a habit of reducing flesh and blood to facts and figures, but road traffic accident (RTA) statistics aptly describe the situation without sympathy or sentiment.

The Stark Statistics

According to Nigel Lacy, the founder of Young Marmalade, which aims to help young people find cheap motor insurance, the world’s roads claim one human life every six seconds. RAC Foundation’s Elizabeth Cox, meanwhile, claims that road accidents account for more than 50 percent of all external causes of death among children in the UK aged between 10 and 14. Ms Cox adds that young people aged between 15 and 19 are at even greater risk. Compared to the general population figure of 42 deaths per million, people in this age group suffer a fatality rate of 82 per million. Tellingly, males aged between 14 and 19 are subject to a rate of 127 deaths per million.

Many road accident compensation claim involves a young driver. The Office for National Statistics makes the point clear by suggesting half of all avoidable deaths among teenagers in the UK are caused by road accidents. When RTAs among young people aged between 15 and 24 account for more deaths than suicide, drug abuse and violent crime combined the point that motoring is especially dangerous for young drivers ought not to be ignored.

Insurance companies are quick to use road casualty statistics to justify increased annual premiums. Young drivers are particularly vulnerable to inflated premiums, which many would argue is entirely fitting considering they cause the most accidents and should therefore be held to account (uninsured drivers excepted, of course). Fortunately, there are ways for young motorists to just about afford these premiums.

How to Afford Insurance

Third party only insurance is certainly one option. In law, third party is the minimum level of cover required of drivers. Comprehensive is undoubtedly useful, covering most conceivable hazards, protecting no claims discount bonuses and providing a courtesy car if necessary. Very few young drivers have a no claims discount to protect, of course, so comprehensive is an unnecessary expense for most fledgling motorists. Fire and theft are obviously worth thinking about, but third party should be regarded as the cheapest and sometimes most suitable option for young drivers, 20 per cent of whom can expect to experience an RTA within six months of passing their practical driving test.

The Excess

Another option for young drivers is to set a relatively high excess on the policy, which ought to have the effect of reducing the premium by a substantial figure. If the young driver is wise enough to buy (or have bought for them) a vehicle fitted with a small engine and if they manage to resist the temptation to modify the car to any greater extent than installing a pair of fluffy dice, the premium should be reduced to the minimum. This won’t be as low as the sum paid by the 50-year-old SMART car driver who possesses a 33-year no claims discount, but certainly not as high as the mindless 17-year-old boy racer in his heavily modified Golf GTI whose destiny includes a sharp bend and a large tree.


Curfew and restrictions proposed for young drivers

Drivers under 25 with fewer than two years’ experience shouldn’t be allowed to drive between 11pm and 4am, said the Association for British Insurers (ABI) this week.

The new proposal by the ABI also recommends a zero tolerance approach to alcohol for young drivers.

Additionally, learner drivers under 25 would be required to spend at least one year behind the wheel before passing their test, effectively doing away with the concept of intensive driving courses.

ABI’s director of general insurance and health Nick Starling said: ‘Our proposals are not designed to drive young drivers off the road, but to ensure that they become safer drivers.’

The goal of reducing loss of life on our roads is a commendable one; however the ABI’s suggestions involve taking away freedom and independence for young people, while also reducing their opportunity for gaining experience in the road.

One potential avenue for positively encouraging safer driving habits among young people is the use of “black box” telematics technology.  A new wave of young driver insurers is encouraging young people to drive responsibility, with benefits on offer including cheaper car insurance and safer roads for all.  Getting behind the wheel having only recently passed can be a costly process, especially for teenagers – primarily due to the cost of New Driver car insurance for those who haven’t built up a no-claims discount yet.

The majority of young drivers don’t actually have a crash, and so enforcing curfews and restrictions across the board seems unfair for many young people.

We’d be interested to hear your thoughts in the comments – should young drivers be banned from driving late at night?

The Best Car Insurance Deals Aren’t Out of the Question If You’re a Student!

Trying to make sense of the world of finance can be difficult if you’re still in school. After all, your days are already busy enough. There are a lot of things that you will need to think about if you’re a student just to get through your classes. Heavy study periods are the norm when you’re in school, but you still need to make sure that you have certain things ready in place for everyday life. Life isn’t going to wait for you just because you’re currently in school. You will have to make sure that you focus on a strategic plan to get everything taken care of.

For example, if you’re driving you will need to get quality car insurance cover. This is something that gets overlooked, but the truth is that you will need to really get the best insurance that you can if you really want to keep driving your car. Your insurance is only going to be valid if you make all of your premiums. If you don’t get a premium in one month, you’re not going to have coverage for that month. If you make this a habit, you’ll actually be increasing your payments over time because the insurance company will feel that you’ve become a riskier customer. If you have no income stability, you’re much more likely to drive recklessly — or so the story goes.

What you need to focus on right now is getting student insurance that’s going to work for you. In this case, we mean that you need to be looking up car insurance deals that actually make sense for your situation.

Don’t just go online and look up things by price. There is a lot more to the world of insurance than just price. What really matters here is the type of coverage that you have to work with. You will find that more comprehensive coverage is going to be more expensive, but it tends to protect you better. Now, if you have an older vehicle you might want to go with just third party insurance cover — this is the most basic type of policy. However, if you have a vehicle that your parents are handling the car finance for, you may need to actually upgrade your policy dramatically. This is to not only protect the investment while it’s being financed, but to make sure that an accident doesn’t slow you down.

At the end of the day, the best car insurance deals truly aren’t out of the question if you’re a student — you just have to go online and make sure that you hunt them down!