Are you under 25 and running your own business in the motor trade? Unfortunately, age is one of the biggest risk factors when it comes to obtaining insurance; however, specialised cover can give you complete peace of mind as long as you are aged 23 or over, hold a full UK driving licence, and can prove that you run your own business.
What cover do I need?
The minimum cover you will need is road risk insurance – third party or fully comprehensive – to cover you and any staff who work on your customers’ vehicles; however, you are likely to need other types of insurance to make sure your business is fully covered. These include:
– Employer’s liability: you must have this if you employ staff so that your business is covered in case of accident or injury.
– Public liability: if you work with the public on a daily basis, this will protect you against any claims on your business.
– Motor trade: this combines public and employer liability with legal expense cover and breakdown assistance.
– Combined insurance: if you have your own premises, this covers you for road risks and your building, money and tools.
How can I say money?
There are several easy ways to lower your premiums, such as making sure your property is secure and hiring reliable staff. You can also opt for a higher excess and it is almost always cheaper to pay a policy annually, so budget to be able to do this. An online broker such as www.quotemetoday.co.uk/motor-trade-insurance/ will deliver a range of specialised quotes, so you can pick the one that provides the cover you need at a price that works for your business.
What are the benefits of under-25 motor trade insurance?
The key benefit of specialised insurance is the peace of mind that comes from having your business fully covered. A specialised insurer will create a tailor-made policy that delivers the level of cover you need, with expert advice to help you establish what is right for your business; for example, if you only work part-time, you will be able to get a policy that is designed for your personal circumstances.
Once your policy is in place, you will be able to claim quickly and easily and your electronic documents will be just a click away.