If you run a business in the motor trade, then one of the most vital things you need to do to protect your business is get a good insurance policy.

Motor trade insurance is a type of cover that lets you protect every aspect of your business. Below are the different types of cover that are available as well as some good ways to save money.

Types of motor trade insurance

  • Road risks – Road risks is an essential type of cover for motor trade businesses. It will enable you and your employees to work on and transport customer vehicles as necessary. You’re also able to get cover for company cars.
  • Part-time cover – If you work in the motor trade on a part-time basis then you can get a part-time motor trade insurance policy that will cover you only for the period of time that you need.
  • Combined motor trade insurance – A combined motor trade insurance policy is a very popular option with motor trade business owners. This is because it provides full protection for your business. Not only does it provide cover for road risks but also covers your premises as well as tools, stock, cash etc.
  • Liability claims – Liability claims are always a risk for motor trade business owners. Therefore it’s a very good idea to get public liability cover included in your policy. Legal expenses can also be included.

Ways to cut down the cost of motor trade insurance

  • Limit cover options – This may seem like an obvious one but a very good way to keep the cost of motor trade insurance to a minimum is by getting a basic policy that provides third party cover. Of course you want to make sure your business is protected but if you feel that you don’t need a certain type of cover then you can omit it from your policy to save money.
  • Secure your premises – Making your premises secure is another good way to save money on motor trade insurance. Taking measures such as installing CCTV cameras and security lights can help make your premises more secure and therefore cut down what you pay for cover.
  • Hire good staff – Hiring good employees is another way to cut down insurance costs since insurance providers will certainly take this into account.