How to Get the Best Motor Trade Insurance Policies

When purchasing motor trade insurance, your first goal is to lower the premium you pay. Start by presenting your NCD (no claims bonus) or “no claims” certificate. This discount is available to drivers who have never claimed money on their policies. A discount of up to 60% could be available if you have not made one claim in five years. A clean driving record indicates to insurance providers that you are not a risk. Motor trade insurance is about pooling risk together so you’re usually safe. This discount can be carried with you, regardless of which provider you work with. The following are other measures:

  1. Use your clean driving record as per the company policy. If you are granted access to a company vehicle, it is essential that you keep your driving record clean. This will save you money and help the company avoid any fines. This period can be used as part of your “no-claims discount”. You can inform your new provider to have this period taken into account so they can lower the amount you pay.
  2. Find out if there are any discounts for your motor trade activity. The provider may decide to lower your premium if you engage in certain activities within motor industry. The providers may reduce your premium if you take part in repairs or servicing. Some activities are considered hazardous, so the provider may increase your premium accordingly. These activities include vehicle salvaging and recovery work, as well as dismantling. If you do not tell the provider all the facts, they may cancel your policy.
  3. Limit the number of people driving your car. If you’re part of a large family, it is tempting to add teenagers to the policy. Their records will either be untested or a disaster. Insurance companies will give motor trade insurance to them at extremely high rates, taking the easy way. Some providers have rejected applications from individuals under 21 years old. It is important to consider the possibility that your teenager could increase your premium by hundreds of dollars.
  4. Maximize the voluntary excess you offer. The voluntary excess is how much money you will pay for a claim before an insurance company takes control. Most motor trade insurance providers will offer a discount if you have a large voluntary surplus. You will be required to pay a mandatory excess of $400. You must balance these figures or your insurance policy could be invalid for small claims.
  5. Compare prices for motor insurance. The days of getting a quote from a motor trade insurer are fading away. The World Wide Web can help you save money. Although price comparison websites can be very useful, customers often complain about the bias in the recommendations they make.

There are many ways to save money, so there is no reason you should have to pay high motor trade insurance premiums. Set a resolution for the New Year to save at least $500 on your annual premium. The positive results will surprise you.