Some of the motor business owners do not care about the lapse of their , which cost them a fortune in the long run.You can lower down your motor trade insurance premium, but taking into consideration few points. The first thing you need to understand is the risk assessment of your business. Do you work on restoration of vehicles or with them? Do you have high performance vehicles in your premises or your work with them.
The premium amount of your insurance depends upon lots of factors. Like your work premises if your building is situated in the city or at a place where the crime rate is higher than the premium is tend to be on the higher side as the risk has increased. If you are in the same industry for a long time, then you can also take the advantage of no claim bonus too. Many insurance companies take into consideration the bonus and recognize you as a low risk asset and these bonuses affect your premiums significantly.
If you are dealing in High performance vehicles, then you need to cover the road risks too, because for handling your client’s vehicle you require a valid cover. The best part of this is you can add all your employees to the insurance, but ensure that everyone has a good record of driving otherwise it will increase your premium.
You can also add your personal vehicle to the motor trade insurance and nominate your spouse in your employees this way you can save on your premiums and need not to pay for different personal cars you have. The major benefit of motor trade insurance is that it provides you cover irrespective of the vehicle you are driving. And this way you can use your business cover to protect yourself too and your family.