Loading...

BLOG

4 Things You Need To Know About Motor Trade Insurance

Most people in the motor trade industry see motor trade insurance as a necessary evil. It’s one of those expenses that’s essential to protect your business, but the hassle of getting it sorted at the right price is one we could all do without.

The motor trade insurance quotation tool on our website makes getting quotes easy.

Once you’ve got your quotes, take a few minutes to check out the best options. Here are 4 pieces of advice to help you be sure you’re getting the best deal for your business.

Don’t assume the cheapest traders insurance is best.

It’s very easy to assume that the cheapest motor trade insurance is the one to go for. But this could end up being a false economy. If you need to make a claim, you need an insurer that’s on the ball and easy to deal with.

When you’re talking to the insurers on your shortlist, think about:

• how easy they are to contact
• how easy they are to deal with
• whether or not you’ve heard of them
• whether they’ve got a good reputation

If you’re making an insurance claim, you’re probably going to be a bit stressed. Having the right insurer could make the difference between getting the problem sorted quickly and having more hassle than you really need.

Don’t ignore your gut instincts

Your motor trade insurance protects your business, so it’s important to make sure you’ve got confidence in your insurer. You also need to be sure you’ve got the right level of cover.

You can do this by listening to your gut instincts. Call up the insurers on your shortlist so you can run through the policy you’ve got details of via our quotation tool. (Don’t forget to mention you’ve got their details from UtilitySavingExpert.com!)

Answer any questions they ask honestly – the more details they have about your business, the more accurate the cover will be.

But also listen to the way they ask the questions. If you get a sense they’re following a script or don’t seem to understand your trade, be very wary. You might end up with cover that isn’t exactly what you need because the insurer doesn’t understand your requirements. Through no fault of your own you may end up paying too much for cover you don’t need or – worse – not having the right cover if you need to make a claim.

Don’t forget to ask questions

When you’re talking with your insurer, you’ll probably be answering lots of questions. But don’t forget to ask them questions about the level of cover you’ll be getting and the customer service they provide. The answers the insurers give will tell you whether they truly understand your business and you’ll get the service you need.

Questions to ask might include:

• double checking the level of cover that’s on offer so you can be sure you’ve got what you need
• finding out how they deal with claims and what they do to make sure you get the best outcome
• checking to see if they’re proactive with claims or whether it’ll be you doing all the chasing
• asking about their background and history so you can be sure you’re with a reliable provider.

Don’t be afraid to haggle

Let’s say you’ve spoken to the three cheapest insurers on your list of comparison quotes. The result is that the insurer you feel most comfortable with isn’t the cheapest one. Now is the time to haggle. Speak to your preferred insurer and say you’ve got cheaper offers and ask if they can match them or beat them. After all, don’t ask, don’t get!

One word of warning though. When the insurer asks you for the cheapest price you’ve been given, you might be tempted to make up a lower price than the cheapest one you’ve received. Don’t! Tell them the truth. Insurers know how much insurance costs and they may be suspicious if your price seems too low. When they’re suspicious, they won’t try to compete. Instead, they’ll just stick to the price they gave in the first place. On the other hand, if you’re honest, they may be prepared to reduce the premium to get your business.

At the end of the day, make sure you get the best deal for your business

The quotation tool on our site makes getting the motor trade insurance quotes easy. Even so, sorting it out can seem like a bit of a hassle. But trying to save time and money in the short term could end up being a false economy in the long term. Invest some time getting the best motor trade insurance deal for your business each year by following these simple pieces of advice. That way, if the worst happens and you do have to make a claim, there’s less chance you’ll be left regretting not checking who you were getting insured with more closely.