The main reason why you get motor trade insurance is to find the benefits and coverage that is on offer. Unfortunately some applicants do not take this process seriously enough. Therefore they will accept coverage packages that are dubious at best. In other words they can end up compromising in areas where compromise is not really required. There are no generic conditions but you need to look at each provider to see if they are giving you a good deal.
- Make sure you use your NCD bonus : Some motor trade insurance providers are not clear as to whether they allow you to carry a "No Claims Bonus" or NCD discount. This is a fundamental condition for this sort of policy and you need to clarify the issue right at the beginning. The NCD scheme has been known to remove more than 50% off the premiums that you need to pay to the provider.
- Check to see whether they provide windscreen cover : Although there are separate arrangements, some motor trade insurance companies will give you coverage for damaged windscreens. This is an extra perk that can make life easier for you especially if you are responsible for a fleet of cars. If the provider is unable to cover this aspect then you can make separate arrangements for about $ 250 a year.
- Breakdown cover should be considered : Sometimes you are not involved in an accident but then the car breaks down and yet you need support. Where the motor trade insurance policy has provisions for break cover, then your level of inconvenience will be controlled. You might even be able to get away with not making a main claim because you are getting support on the minor damage.
- Make sure that the excess figures are fair : Do not agree to excess figures that you can not afford. The voluntary motor trade insurance excess is entirely within your hands. Make the decision based on a cost basis as well as the benefits that you get in terms of reducing the premiums that you need to pay. A large excess payment may be outside your means and yet the reduction on the premiums may not be sufficient enough to cover the extra amount of money that you need to pay.
- Consider the possibility of a comprehensive package : Some entrepreneurs have considered the option of comprehensive motor trade insurance. Under this scheme you do not have to worry about anything regardless of the fault lines. It does not matter if you are at fault or if the other party is at fault. Sometimes a 3 rd party will cause an accident and flee the scene. You need to ensure that you follow the comprehensive packages if there are any discrepancies with your expectations at the beginning of the contract. Most new cars will have comprehensive insurance and will be the expectation of the person that is driving the car.
- Check coverage on theft and fire : The neglected options of fire and theft are not automatic unless you are getting motor trade insurance on a comprehensive basis. You need to check out all the options and ensure that the cover is satisfactory. Assumptions are not useful given the fact that you are dealing with significant amounts of money. It is preferred to raise any questions that you have with the broker rather than hiring that things will settle down in due course. The policy is only as good as the terms and conditions that are agreed by both parties. You can do some extra checks just to be sure that you are getting good coverage under the policy.