Does part-time motor trade insurance cost less than full time ?

This is question that we get asked on a regular basis as customer are getting more and more focused on the best price at the lowest cost online and often requesting an any driver policy with no bonus.

What are the advantages and benefits of one of these polices against one that is full time. Certainly the main answer to this is the lower cost and flexibility of this type of cover. New start up business that operate in London or Birmingham may struggle to find the cheapest part time motor trade insurance online quote if they are looking to include a young driver will little driving experience. Often enough the  mechanic or sales person starting the business will have limited financial backing and therefore begins with a part time policy whilst the company gets going ,and build up the customer basis. People will set up in the motor trade when they have come from various other businesses. They may have been an car salesman, a tyre fitter, and auto electrician , a car valeter, a panel beater, or even just doing servicing and MOTs.

If a new venture has drivers that have DR10s or motoring convictions this can present a problem as the insurer is wary of losing money in the short and long term.  Part-time motor trade insurance will still take the same stance regarding newly convicted drivers and they will always carry a premium to be included on the policy. In short a part time policy is cheaper as it simply represents a lower risk to the insurer and they are less likely to pay out and much less likely to have a claim whether that claim be large or small. Always ensure that a policy has all the cover you require such as defective workmanship or loss of earning in the event of a fire or flood that could potentially put a business on its knees with no income coming in. Some insures have better rating financially than others and the last thing you want is your insurer going bust and leaving you uncovered.

 

 

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