When was the last time that you checked your motor trade insurance policy? If you are being honest you have more than likely have never given it a second glance since the day that you got it. This is not unusual as when you are in business; time as they say is money. As strange as it may seem, it may very well be prudent for you to take a look at your policy renewal document, before parting with your hard earned cash. There maybe a few things that due to a change in circumstances, will no longer apply to you, and you will never know unless you check it out.
Maybe you have had a good year, and decided that you are going to increase your staff and take on a young person. Although very commendable, this could give you a bit of a problem when it comes to them driving your vehicles. The simple fact is that age is most definitely a deciding factor with regard to motor trade insurance. Although there does not seem to be a stated minimum age, it is quite common to find that anyone who is aged 24 or under and who has not held a full licence for 2 years on your policy is going to cost you extra.
Strangely enough, this is also the case at the other end of the age spectrum with many insurers putting the upper limit for covered drivers at 65 years. These ages are not set in stone, as there are insurance companies who will have different age criteria for their motor trade insurance. The next could also be as a result of a change of circumstances, have you for instance found that you are now getting more high performance cars and sports cars through your door. You may have decided to broaden your horizons and sell motor bikes or even commercial vehicles as well as cars.
If you have taken out a standard motor trade policy, then these vehicles will probably not be covered with it. As a general rule of thumb, a standard policy will offer cover for any vehicle up to a gross weight of 3.5 tons, so anything more will obviously cost you extra. The last thing would be to check that you have adequate cover for everything that you do. You may find that you want demonstration cover as part of your policy, as this covers prospective buyers when they are test driving one of your vehicles. Another aspect is the level of cover that you have you may decide that you want to change your cover from third party only to comprehensive or vice versa.
If after checking your policy you find that you do need to make some changes, then it is probably a good idea to give them a call. It would also be prudent to ask if you will incur any administration charges to change your details, as some but by no means all insurers will. If you have checked your policy and amended it where necessary then you can sit back and relax until next year. Quote Me Today offers different schemes and options available so you have the chance to invest in the Motor Trade Insurance policy you need. If Your Motor Trade Insurance Is Due For Renewal You May Want To Check These 3 Things