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- Cover for road risks
- Cover for your premises
- Money cover
- Tools cover
- Liability claims
- Legal expenses
- Combined policies available
- Instant cover
How Much Does Young Motor Traders Insurance Cost?
Young motor traders insurance is a type of cover that protects you when you’re working in the motor trade for risks such as accidents, theft, damage etc.
One of the first things that young motor traders want to know when taking out insurance is how it will cost. This is no set answer to this as it will depend on a number of factors. Below are some of the main things that affect the cost of a young motor traders insurance policy –
The type of business you run
The type of business you run is one of the big factors that will affect how much your policy costs. Some businesses are considered higher risk than others due to the type of vehicles they work with, the number of employees there are etc.
Where your business is based
Where your business is based is another thing that impacts cost. If your business is in a high crime area then it will certainly be reflected in the cost of your policy. You can help to negate this somewhat by making sure you take steps to make your premises as secure as possible by using security lights, alarms, CCTV etc.
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How many employees you have
The number of employees you have will affect how much you pay for motor trade insurance too. Your employees are the ones who will be working on customer vehicles so it’s always important to make sure you hire good people if you want to save money. From an insurance standpoint, good employees are those who are over 30 and have a clean driving and criminal record.
Your driving and criminal background
If you have any driving or criminal convictions that are unspent i.e. you need to declare them, then this will be reflected in the cost of your policy.
You can save money on young motor traders insurance by making your premises secure.
The level of cover you require
The level of cover you require is another factor that will affect how much you pay for cover. Road risks is always a must but then you need to decide whether you want to get protection for things like your premises, tools, cash etc.
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