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;

  1. Choose a specialist provider of insurance for motor traders

  • more effectively than any comparison website, a specialist provider of insurance for motor traders is able not only to identify the package of elements of cover appropriate for your individual business but also to tailor that insurance to meet your particular needs and requirements;
  • a specialist provider is sufficiently familiar with the motor trade industry to know not only what elements of cover you are likely to need, but those which you must have in order to stay within the law;
  • a typical example is your legal requirement for employers’ liability insurance if you employ any staff at all – as drivers, salesmen, or in any administrative capacity, for example;
  • that cover needs to provide a minimum of £5 million indemnity and is designed to ensure that you are able to meet any successful claim by a past or present employee who may have been injured or contracted a longer-term medical condition as a result of their work for you;
  1. Insurance and more

  • a specialist online provider of motor traders insurance is able to do far more than just advertise specific policies that might be suitable for your business;
  • through such a specialist website you are likely to be offered the opportunity to ask questions about the cover you need – either for an online discussion or to request a callback by telephone so that you may explore any issues directly in a person to person conversation with a qualified expert;
  • before committing to the purchase of any motor trade insurance online, you might even request a comprehensive risk assessment of the way in which your particular business is run and the environment in which it operates, so that you ensure good value for money in the cost of premiums.

Follow these three simple steps, and you may save money by arranging your motor trade insurance online that is essential for your business.