The cost of motor trade insurance will vary depending on a number of factors, including:
- The type of business you operate
- The size of your business
- The number of vehicles you own or operate
- Your driving record
- Your claims history
- The level of coverage you choose
In general, motor trade insurance is more expensive than personal car insurance. This is because motor trade businesses face a number of additional risks, such as the risk of damage to customer vehicles and the risk of liability claims from third parties.
The average cost of motor trade insurance in the UK is around £1,000 per year. However, the actual cost of your policy could be much higher or lower, depending on the factors listed above.
Here are some tips for getting the best deal on motor trade insurance:
- Compare quotes from multiple insurance companies
- Choose the right level of coverage for your needs
- Consider taking out additional discounts, such as a no claims bonus discount or a multi-policy discount
- Shop around for the best price every year
Here are some examples of the average cost of motor trade insurance for different types of businesses:
- Car dealer: £1,200 per year
- Garage: £1,000 per year
- Valet business: £800 per year
- Tow truck company: £1,500 per year
It is important to note that these are just averages. The actual cost of your policy could be much higher or lower, depending on the factors listed above.
If you are looking for the best deal on motor trade insurance, it is important to compare quotes from multiple insurance companies. You can do this online or by contacting insurance brokers directly.