The cost of motor trade insurance varies depending on a number of factors, including:
- The type of business you operate
- The size of your business
- The number of vehicles you operate
- The type of vehicles you operate
- Your driving record
- Your claims history
- Your location
According to a study by Confused.com, the average cost of motor trade insurance in the UK is £477 per year. However, the cost can range from as low as £265 per year to as high as £1,000 per year or more.
Here are some tips for saving money on motor trade insurance:
- Shop around and compare quotes from multiple insurance companies.
- Consider raising your deductible.
- Take a motor trade safety course.
- Bundle your motor trade insurance with other policies, such as business liability insurance or commercial property insurance.
It is important to note that the cheapest motor trade insurance policy is not necessarily the best policy. It is important to make sure that the policy you choose provides you with the coverage you need at a price you can afford.
Here are some questions to ask yourself when choosing a motor trade insurance policy:
- What type of coverage do I need?
- What are the limits of coverage?
- What are the deductibles?
- What are the exclusions?
- What is the company’s reputation?
- What is the cost of the policy?
It is also important to read the fine print of your motor trade insurance policy carefully to make sure you understand what is and is not covered.
If you are unsure about which motor trade insurance policy is right for you, it is a good idea to consult with an insurance broker. An insurance broker can help you understand your needs and find the best policy for your budget.