subject: The Importance Of Motor Trade Insurance [print this page] The Motor Trade industry is one of the busiest industries in the UK. As motor trading is always conducted, motor trade insurance is a must.
The insurance protects motor traders whether their business is done at home or from a business premises. Whatever field you work in, be it luxury sports cars or vintage cars, there will be a policy suitable for you.
Like with other policy's, payments can be made monthly or you can pay the full amount off at once. Some insurance providers offer discounts for new customers.
Motor trade insurance is essential and it is recommended that a person meets a certain criteria. For example, the potential buyer of the vehicle must have held a full British drivers licence for a minimum of a year and there is a maximum of three drivers that can be registered to the car.
If a person has any convictions on their drivers license they become ineligible for motor trade insurance. Pending or ongoing convictions will also have the same effect. However, convictions that happened five or more years ago are disregarded.
Policy owners cannot employ people who have been disqualified from driving within the past five years. If they have been disqualified for a period outside of the five year bracket, then there is no problem for policy owners to hire them.
People that drive as part of their job are allowed to have their insurance suspended if a conviction occurs. If they receive a disqualification from driving for a period of a year or more whilst working for the firm, the policy is again suspended.
Although it can be quite technical, investing in motor trade insurance is highly recommended. As with companies that offer car insurance, some insurers offer a discount to new customers.
It is wise not to just pick the cheapest policy found. Most businesses are driven by profit and whilst it is natural to try and cut costs for expenses such as motor insurance, the chosen policy may not cover your business for everything it needs.
by: Harvey Taylor
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