Whether you’re a school leaver or a recent graduate, it is likely that you have clicked on this article because you’re looking to join the motor trade. Here, we explain age restrictions, and give you all the information you’ll need to make the decision on whether it is the right industry for you.
What are the age requirements?
Young drivers are almost always hit with high insurance costs for their personal vehicles, but what if you’re under 25 and want to get insured on a vehicle that is as an essential part of your job? Motor trade insurance is insurance for anyone that works in the motor trade industry, and this could be repairing, maintaining or selling on vehicles.
The rules are that you need to have had a full UK or European driving licence for a year before you are able to be eligible for a motor trade insurance policy. So, this means that if you passed your test at the age of 17, you could be covered by a motor trade insurance policy at the age of 18 – although you’ll need carefully shop around for young motor traders insurance.
Will my insurance costs be a lot higher?
The reason for young drivers’ insurance is so much higher is sadly due to the statistics. Young drivers are much more likely to have a crash than an older and more experienced driver. According to research done on the road, it is said that an 18-year-old is three times as likely to have a crash or be involved in an incident than a 48-year-old. And to add to the stats being against them, one in 5 new drivers will crash within six months of them passing their test. So, you should understand why insurers hike their prices up, as they have to cover the risk that young drivers present. It is likely that your insurance premiums will be slightly higher if you need to insure a young driver, but there are still some great deals for young motor traders insurance.
Finding a policy for under 25 motor trade insurance
It may be a little tricker than usual to find a policy that will cover under 25s, but it’s not impossible. There are a few insurers that create policies aimed at young people, and some mainstream insurers have been known to offer a 22 to 25 policy. This may be an option for you if you’re looking to insure someone that’s only just younger than 25.
Most policies for young drivers will cover all the same terms that are on an over 25s insurance policy, such as liability protection, road risks insurance and premises cover, but you should be aware that there may be some restrictions regarding your policy, such as the size of engine that you are allowed to drive
With opportunities for grants and support from the government, as well as apprenticeship schemes, there’s really no barrier to stop you making the decision to join the motor trade at a younger end, and it could lead to an exciting and profitable career that will see you right through to retirement.