August 24, 2012 in Motor Trade Insurance News & Info
When looking for cover for your business it’s always advisable to get a minimum of three quotes, but once you have your motor trade insurance quote in your hand, what do you need to do next?
There are a couple of steps you can take before accepting any quote, these are to determine if you have the right level of cover, if you can find the same cover for a lower premium and if the company you are dealing with is reliable and reputable.
Get More Quotes
Always have at least three quotes, this enables you to compare them to find the best deal for your business at the lowest possible price. Before you apply for any cover you should carry out a risk assessment, this can be used to review the quotes, enabling you to determine the exact level of cover your business needs.
With three or more quotes you may find they all meet your requirements, yet one or two of them are much cheaper than the third. You need to take your time when reviewing these quotes, read every line of the quote to determine exactly why they are a higher premium.
If they all offer the same level of cover, you may find the higher priced quote requires a lower excess than the rest. Contact this company and see if you increase the excess how it will drop the premium, you may find they actually work out cheaper in the long run.
Are They Reputable and Reliable
It doesn’t matter what business you are in, when it comes time to claim you need to know your claim will be handled quickly and effectively. You can’t spend weeks fighting with the broker to get your claim through, especially if it’s a serious matter such as a damaged customer vehicle or your building has been severely damaged to a point where you cannot work.
There are a few ways to determine how reliable these brokers really are. You can ask them outright to give you some current customers you can contact. Often they will be willing to do this for you.
Another option is to do an online search. The internet has become a world of knowledge, this is to your advantage when trying to determine if the company you are thinking of signing with is reliable or not.
Read through forums, post a question on the forums and see what responses you get. The advantage is that these will be honest reviews of customers past and present and their experiences with the company.
Once you have the feedback and you have chosen the company that offered you the best motor trade insurance quote, you can sign with them and enjoy full cover for years to come.