Why a Combined Motor Trade Insurance Policy is Best for Your Business

Every business owner knows all the pitfalls and risks associated with the type of business they are involved in. This is even truer for those who are offering vehicle repair and servicing, buying and selling, valeting, and all other types of vehicle-related enterprises. When you have a vehicle in your premises, you are directly responsible for it; more so if you or your staff are driving another person’s vehicle around on the road.  Anything could happen, and it is best to be prepared for any eventuality. The cost of preparation will always compensate for the cost of problems in the future.

Whether you have a garage, are involved in buying and selling, or have an MOT centre, you will benefit from choosing the right motor trade insurance policy.

If you have been looking around for the best motor trade insurance for your enterprise, you will likely have come across a variety of different insurance policies. The most basic is the third party policy, but there is also the theft and fire third party policy, the comprehensive policy, and the combined motor trade insurance policy.

A combined motor trade insurance policy – why it works

Imagine thinking about so many things at once. It’s difficult enough for you to run your business as smoothly as possible, but it will be more difficult if you have to rely on different providers for your insurance needs. If you have a different insurer for your vehicles, your employees, and your premises, it can quickly become confusing. Also, you may likely end up paying more for your different policies than is good for you and your business. But with a combined motor trade insurance policy, all the coverage you need is offered by one insurer under one roof, saving you time, money, and effort.

Benefits of a combined motor trade insurance policy

Comprehensive protection

With a combined motor trade insurance policy, all your assets and responsibilities are covered under one prime policy. This means your staff, your premises, the vehicles in your care, and your profits. The time saved on managing only one policy is exceedingly beneficial for any enterprise. No longer do you need one insurer for your buildings and premises, another for your liabilities and road risks, and yet another for your staff. Everything is taken care of in one combined policy.

Time and money saved

Trying to juggle different renewal dates and payment schedules is a big headache. If you have one combined policy, you only have to deal with a single date of renewal. This saves you a lot of time that you can very well spend on furthering the growth of your business. You only need to speak with one insurance broker who can give you all the assistance you need instead of a number of insurance brokers.

Money savings are beneficial as well, of course. With a combined policy, you can save on premiums because you can also take advantage of discounts from providers.

Choosing a combined motor trade insurance policy is a time- and money-saving alternative to relying on different policies from different insurers. With this, you have better peace of mind and can dedicate more time to watching your business grow.

Liam Ball is a finance writer who regularly contributes to a range of leading publications and websites all over the world on a variety of finance related issues.

 

Tags: Insurance policy, Vehicle insurance

Category: Automotive, Car Purchase, Family Finances