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What is Part Time Traders Insurance?
If you work part time in the motor trade then you will need to get a good insurance policy to cover you for this. There are many insurance providers who offer tailored quotes for part time motor trade insurance. These policies are suited to those who only work in the motor trade part time and will take into account the wants and needs of the individual.
Before seeking quotes it’s a great idea to read through the information on this page so you can see what types of cover are available and a couple of great ways to save money on part time motor traders insurance.
One of the best ways to save money on part time traders insurance is to get quotes from as many providers as possible.
Motor Trade Cover Available
- Third Party - Third party cover will protect any cars that are owned by the business. This allows you to work on them legally and provides cover for collisions where a third party is liable. You can also choose to have fire and theft covered in a third party policy.
- Comprehensive - Comprehensive insurance cover for the motor trade offers more protection. It means that if you are involved in a collision you will be protected whether you or your employees are liable or not. Although this costs more when compared to a third party only policy, it does provide you with the protection you need to operate your business with full peace of mind.
- Combined - A combined motor trade policy is suitable when you want to protect everything related to your business including the vehicles, premises and assets. All policies can be highly tailored to your individual needs so don’t be afraid to specify exactly what it is you need cover for.
- Public liability – Liability claims from members of the public can be made against your business for many reasons. A customer might believe you overcharged or didn’t carry out the work as promised for example. Your business might also face a liability claim if one of your employees is involved in a crash with a member of the public. In any case public liability insurance will ensure that you’re able to pay out if a claim went against you.
- Employers’ liability - Liability claims don’t just come from members of the public. If one of your employees were injured or killed on the job due to unsafe working conditions then you could easily find yourself facing a claim. Therefore it’s necessary for you to have employers’ liability if you employ any staff at all, even on a part time basis.
- Legal fees - In addition to getting cover for liability claims, you should also consider having legal fees included as part of your policy. Fighting liability claims in court can be very costly so it will give you peace of mind to know that your legal expenses would be covered in such a scenario.
- Breakdown cover - Any type of additional cover you might consider getting included in a motor trade policy is breakdown cover. This will ensure that if one of your employees were to breakdown while on the road, they’d be recovered as quickly as possible and your insurance would cover it.
Saving Money on your Motor Trade Insurance
Below are some great ways you can save money on motor trade insurance –
- Pay Upfront - Insurance providers generally prefer when you’re able to make a large payment upfront so you should always do this when possible and expect to get a significant discount on the overall cost of the policy. Although you obviously pay more upfront this way, it is a very good way to reduce the cost of your premium significantly.
- Make your vehicles secure – If you work from your vehicle, as in the case of a mobile mechanic, then you want to take any steps you can to make it as secure as possible. Most vehicles will come with an alarm and immobiliser fitted as standard these days, but if your van does not then you should certainly have them installed.
- Make your premises secure - If you have a premises then it’s also important to make this as secure as you can if you want to keep the cost of your insurance to a minimum. Using CCTV, security lights and an alarm all help to make your premises more secure and therefore will help to lower the cost of your cover.
- Get a third party policy – A third party policy will provide enough cover to enable you to operate legally as a part time motor trader and will also work out cheaper than a comprehensive policy. This makes it a a great choice of cover if you want to keep costs down.
- Get Multiple Quotes - This is perhaps the most reliable way to save money. Getting multiple quotes gives you the ability to assess whether a particular policy is good value for money or not. The good news is that getting quotes from a lot of different providers is easier now than ever.
- Increase excess - The excess is what you would pay towards a claim if you had to make one. Although this is a somewhat risky way to save money it is also effective.
If you have employees then you need to get employers’ liability insurance to protect yourself from employee claims.
Part Time Traders Insurance FAQ
What is part time traders insurance?
Part time traders insurance is a type of motor trade insurance that will cover you for working in the motor trade for the period of time you require. Part time traders policies are typically highly tailored and can be used for a wide variety of businesses within the motor trade.
You can add whatever type of cover you feel you need to a part time policy, including road risks, premises cover, money cover, liability insurance and legal expenses.
How much will a part time policy cost?
The cost of a part time traders policy will depend on a few key factors. They are –
- Your age - Younger people are considered higher risk by insurance providers; in fact many providers will not provide cover to those who are under 22 years of age. If you are under 25 and want to get cover then you can get an under 25 motor trade insurance policy.
- The type of business you run - The type of business you run is another factor that will affect how much you pay for a part time traders policy. Certain types of businesses are consider higher risk than others and this is certainly something that insurance providers will take into account.
- How secure your premises is - The security of your premises is always a big factor that affects how much you’ll pay for motor trade insurance. A premises without any real security measures is more likely to be targeted by thieves and vandals so you can expect to pay more for your cover.
- The level of cover you take out - The level of cover you take out will impact the cost of your cover also. For example a basic third party policy that provides just enough cover for you to work legally will cost considerably less than a comprehensive or combined policy that includes a lot of liability cover. The level of cover you need will depend on the type of business you run and whether you have a premises and/or employees.
Do I need liability cover?
There are a couple of types of liability cover you can have included in a part time traders policy. The first is public liability insurance. This will protect you for claims that come from members of the public and customers.
The second type of liability cover is employers’ liability. If you have any employees at all, even if they’re only employed on a part time basis, then you need to get employers’ liability insurance.
Do I qualify for a traders policy?
In order to qualify for a motor trade insurance policy you must meet the following criteria –
- You must have held a full UK driver’s licence for at least 12 months
- You must be at least 21 years of age (it can be higher with some providers)
- Some providers will require you to prove you work in the motor trade
How to Get Traders Insurance
If you want to get part time traders insurance quotes then you can have them within a matter of minutes. Simply click the green button below and after providing some information about your policy needs, you will have access to quotes from a panel of part time motor traders insurance specialists.
Insurance for people in the motor trade
Those in the motor trade will invariably pay more for their insurance that your ordinary domestic customer. This is due to the very manner of their business and it will vary even more depending on whether they carry goods or passengers. If you are shopping around for motor trade insurance then the following list are you what you will get when you come to us for a motor trade insurance policy.
Highly tailored policies for traders insurance
Bespoke policies which are tweaked to your exact requirements should be par for the course when it comes to your motor trade insurance. There is no one size fits all insurance policy in any sector and we make sure we tick all your boxes as far as your personal needs and requirements are concerned.
A part time traders insurance policy can be tailored to provide the exact level of cover you require.
Compare motor trade insurance quotes easily
As we are a top end comparison site when you answer the basic questions at the beginning it bring up a list of quotes on your screen within seconds so you can compare the prices of the policies at a glance. We do not bombard your email with spam or send you quotes for anything outside of the criteria you have told us about.
Save time and money on your trade insurance
Finding a cheap part time motor trader insurance quote should save you time and money. The user experience on the site should be top notch and you should not be spending hours trawling through numerous questions that have no bearing on your requirements. You will spend no more time on our site than is absolutely necessary as user experience is one of our top priorities.
Multiple payment options
Monthly, quarterly or all in one lump, we will offer you all of these options when you are looking at quotes. Granted, it may cost a bit more to pay in installments but even if you want to pay it all in one go the option will be there for you.
Instant motor trade insurance documentation
You accept a quote, pay the premium and wham, the cover note or policy documents will arrive in your email inbox within minutes. Make sure you check through them straight away to ensure everything has been included that you wanted and that things haven’t been added on that you don’t want.
If you want to get the right part time motor trade insurance online quote for your business now then simply click the green button below.