The ABCs of Motor Trade Insurance

By: Tom Heath

According to HSE Statistics, in 2006 and 2007 there were28,267 serious injuries to employees reported in the workplace! Motor tradeinsurance ensures that you, your vehicles, your employees and the public arecovered if ever the situation arises. Motor Trade Insurance is a necessity forindividuals in the automobile industry such as mechanics, car dealers, garagesand dealerships. It could be a storm, an accident or a vehicle that is stolenwhich could cause you major loss of revenue. Motor trade insurance cannotprevent such situations but it is designed to cater to your needs and assureyou protection during such incidents. It protects your assets that you haveworked so hard to attain so you can continue running your business successfullyyear after year.

Motor trade insurance isgenerally ideal for individuals between the ages of 21 to 70 years old. Theindividual applying for motor trade insurance must be living in the UK for morethan one year. Someone applying for motor trade insurance should also have a UK license formore than one year and should have no convictions or criminal offences in thelast five years. It is imperative to provide precise and authentic informationwhen applying for your motor trade insurance policy. Neglecting to provideaccurate information could cause your policy to become invalid. Insurance brokerswill guide you to understand what constitutes as material information whenapplying for your insurance policy. It is advised to read all policy documentscarefully to understand the basics of the policy you are purchasing.

The perfect motor trade insuranceplan consists of low premiums with effective coverage to cover all aspects ofyour motor trade business. The insurance plan should fit the basic requirementsand the budget of your business. It is usually quite difficult to find a lowcost motor trade insurance plan but it is definitely possible with someresearch. The first step to obtaining a cheap motor trade insurance plan is tohire an insurance broker.

?I know, you may be thinking it is anunnecessary expense when you can find a motor trade insurance plan foryourself. But an insurance broker will save you the time and effort it takes tofinding the right insurance plan. Insurance brokers also have a lot ofresources and contacts to find the cheapest and most suitable insurance planfor you. An insurance broker will be able to break down the insurance plan foryou to understand exactly what you’re getting in to so you’re not signinganything with your eyes closed! They will also be able to caution you from insuranceplans that may be skipping out on certain aspects of coverage you may need foryour business or unnecessary insurance deductibles. Motor trade insurance willbe the largest monthly and yearly expense for your business and that’s why itis extremely important to get the cheapest insurance plan possible. It is theresponsible thing you can do for youArticle Search, your employees and your business.

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