Any motor trade business in the UK needs to have the right type of insurance. Below is a guide to the different types of traders insurance you can get as well as some ways to save money.

Types of cover

• Road risks – Road risks is a very important type of cover for motor trade businesses. No matter what type of business you run, you’ll need to be dealing with different vehicles all the time, whether you’re fixing them, modifying them or buying and selling. You need to be covered for any unforeseen accidents that might occur and this is what road risk insurance is for.
• Liability claims – Liability claims are a considerable risk for business owners so it’s always essential that you have cover for them. The two forms of liability insurance you’ll typically find in a UK motor traders insurance policy are public liability insurance and employers’ liability insurance.
• Legal expenses – Having liability cover in your policy isn’t always enough. Not all liability claims are legitimate and in the event you need to fight one in court, you want to be sure you can afford the legal expenses. This is why many motor trade business owners choose to get this included in their policy.
• Combined motor trade insurance – A combined motor trade insurance policy providers a comprehensive type of cover for motor trade businesses. It include cover for road risks, liability claims, premises, tools, stock and cash.

How to save money

Below are some great ways to save money on motor trade insurance

• Get a lot of quotes – Getting quotes from many different insurance providers is a great way to save money on traders insurance since it will allow you to make an informed decision when taking out a policy.Luckily it’s now incredibly easy to get motor trade insurance quotes by using a site such as traders-insurance.com traders insurance cover service.
• Make premises secure – Another step you can take to reduce the cost of motor trade insurance is to make your premises secure. This means having good locks on doors and windows, having perimeter control measures and using security lighting and CCTV cameras. You might also consider installing blinds in your office to reduce the chance of theft and improve privacy. You can get blinds for bi fold doors as well as traditional wooden blinds for windows – both of which help to improve privacy.
• Pay upfront – Paying for a motor trade policy upfront is an often overlooked way to save money on traders insurance. Although a lot of business owners opt to pay monthly to help spread the cost, you can save a good deal of money by paying annually.