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- Road risks
- Liability claims
- Legal expenses
- Combined policies
- Expert advice
- All types of motor trade businesses covered
- Instant cover & documentation
How to Get Young Motor Traders Insurance
Getting young motor traders insurance is easier now than ever. There are many specialist providers of motor trade insurance for young people so you shouldn’t have any problem finding a policy at a reasonable price.
You want to ensure that you get the right type of cover for your business so it’s a good idea to familiarise yourself with the different types of cover you can get in a motor trade policy.
Do you qualify?
In order to quality for young motor traders insurance you should meet the following criteria –
- Be at least 21 years of age
- Hold a full UK driving licence
- Be able to show that you operate a motor trade business
Getting motor trade insurance as a young person doesn’t have to be a hassle.
How much will it cost?
Below are some of the main factors that affect the cost of a policy –
- The type of business - The type of motor trade business you run will certainly impact the cost of your insurance. Things like the number of cars you deal with, the number of staff you have and whether or not you have a premises will all play a role in determining the cost of your cover.
- The level of cover you need – The level of cover you require is another factor that affects cost. Road risk insurance is always a must for motor trade businesses but you also have the option of adding cover such as liability insurance, legal expenses and cover for your tools, stock etc.
- Your driving/criminal background –Insurance providers are always assessing risk and unfortunately if you have convictions or points on your licence then you will be considered higher risk and can expect to pay more for your cover.
Employers’ liability insurance is legally required, even if you only have 1 employee on a part time basis.
Are there any ways to save money?
Below are some great ways to save money on young motor traders insurance –
- Pay for your cover upfront - If you’re able to pay yearly rather than monthly then this is a very easy way to reduce the cost of your cover significantly although a bigger initial payment is of course required.
- Increase excess - Increasing the excess you’d pay in the event of making a claim is another way to lower the cost of your insurance.
- Get a lot of quotes – Getting a lot of quotes is a must since it will enable you to make an informed decision when taking out a policy.
Get young motor traders insurance quotes now
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