When running a small motor trade business one of the most important things you concentrate on is keeping your road risk cover costs as low as possible. This can include your staff wages, utilities bills and your insurance premiums.
As a business in the motor trade you will be offered a selection of insurance options when it comes to your road risks cover. It is so important to ensure you have this cover in place if you intend driving customer’s vehicles. You won’t be able to test drive these vehicles to look for faults without the right cover in place, at the same time it’s important to be aware that your private vehicle insurance will not cover you in this instance.
So you’ve taken out a Motor Trade insurance policy and you are ready to open the doors to your motor workshop. Within a few weeks your business gets busy and you realise that you cannot manage all the test driving yourself, you need some of your staff members to assist you.
Flexible road risks cover
The advantage of road risks cover from trade plan insurance is that you can include as many as 5 drivers if you wish, you can add your staff members if this is what makes your business day easier, but bear in mind for every driver you add your premium will be increased.
Select Your Drivers Carefully
When you choose drivers to add to your road risks cover try and keep the number down. Adding all your mechanics will only increase your road risks cover. Choosing one or two key staff members to assist you with the test driving of customer vehicles can help you keep those premiums down as much as possible.
How Old Are Your Drivers?
When selecting staff members to add to your road risks, always choose your drivers according to their age. Drivers under twenty five are considered high risks to insurance companies, so ensuring your drivers are over twenty five can ensure you are not paying a too high a premium on your road risk cover.
To help keep your road risk premium down you need to choose drivers that have a full UK driving license. What’s more this license should be clean; they should have no points on their license. A clean driving license will keep your payments down.
Take Advantage of No Claims
Insurance companies will consider whether a driver has been involved in claims on their own private car policy or other policies. What this means to you is that as long as the drivers you have chosen have clean driving licenses and no claims against their name, they will be considered a low risk and in turn your premiums will be lower.
Add Your Own Vehicle
The advantage with having a road risks cover is that you can add your own private vehicle to your insurance policy and add your spouse as one of your drivers. This way you can cancel your private insurance policy, which helps you reduce your costs dramatically.