Motor Insurance Guide Part Two - Keep Your Costs Down

If you run a big motor trade business such as a car dealership, tyre fitting centres or a motor trade transport business. The like any business you will want to minimize costs where possible. Insurance costs are large enough as it is in any business. Basically, the more people who are on your motor trade insurance policy, the more they are out on the road and building up mileage, which will drive up your motor trade insurance policy.

So How Can You Bring The Cost Down?

Who needs to be on your policy? This comes down to the staff you have employed for your motor trade business. What is their driving experience? How old are they? Have they made any claims and how long have they held a license for? These are important questions you need to ask potential staff and even existing staff members when arranging your traders insurance. If you employ safe drivers with a good track record, then this is going to lead to more pounds in your pocket with cheaper insurance premiums.

Other ways to bring costs down could mean having a think about how as a business you move your vehicles around. If you employ several drivers to transport vehicles around, it can be a wise move to invest in several trailers to transport your vehicles. This means less drivers out on the road and negates the risk of accidents, thus bringing those premiums down further.

Limit Your Mileage

The more hours your drivers are on the road equals more mileage. If you cap the amount of mileage on your motor insurance policy, this again helps to bring the cost down for you. If you are a motor dealer for example, you can look at sourcing cars more local to you, which in turn keeps the mileage on the cars lower and your trader insurance premium’s even lower. There are even specific companies now that will deliver cars bought at auction up and down the country, this can make it much more economical in terms of employing staff to pick the vehicles up and again keeps mileage down all round.

There are a lot of considerations to be aware of running a business in the motor industry. You have to take into account what you do within the motor trade as to what insurance you and your business requires. Contact us here at The Insurance Factory for a quote to discuss your motor trade insurance requirements.