6 Money Saving Tips when buying a Motor Trade Insurance policy
When buying a Motor Trade Insurance policy, ensuring you provide the right information is vital – providing incorrect information or indeed withholding it completely can have major implications.
Campion Insurance, one of the country’s largest Motor Trade Insurance Brokers, have provided these key tips to follow when discussing a Motor Trade Insurance policy:
Declare all your motor trade activities to ensure your business is covered correctly. Mention all your trade activity so your policy will cover you for any motor trade driving requirements. For example, don’t limit to servicing & repair if half your business is valeting – a claim would be void if an accident occurred moving a valeted car.
Know exactly who you’re adding to your policy If you add a driver who you haven’t fully vetted and they have an accident, it will be your no claim bonus that takes the hit next renewal, not theirs!
Use the National Fleet Database website Make sure you log onto the National Fleet Database to link your car to your motor traders policy. Motor Trader certs and discs don’t show a reg number, so with the increase in ANPR cameras used by the Gardaí, you could be stopped as the camera will not link the vehicle to an active insurance policy.
Check your sums insured so claims are paid for the right costs Make sure you regularly review your sums insured, especially if you have tools or a stock of vehicles insured. Tools built up over years could end up being a multiple of the original amount you paid or difficult to source, thus increasing the value.
Have proof of your motor trade work to show you’re a genuine motor trader In the event of a claim or dispute in cover, proof of motor trade may be requested. This can consist of receipts for spare parts purchased, records of vehicles bought & sold in the motor trade, copies of advertisements you’ve placed etc.
Check exactly what vehicles you are insured to drive Most motor trade insurance policies have a Gross Vehicles Weight limit between 7.5t and 10t. If you drive anything larger, a vehicle with more than 8 seats or a motor bike for motor trade activity, you may not be covered. If your business brings you in contact with anything other than cars, vans, and small to mid-range commercials, you should check with your insurer that your covered.
The final tip is to contact Campion Insurance for a discounted quote – 1850 577 777
To receive a discount of €50 off any New Business quote given by Campion before 31st October 2019, simply quote “DoneDeal Newsletter” to the Campion staff member