A motor trade is an activity that involves selling and purchasing motor vehicles, repair vehicles and supply the extra parts required by the vehicle. Since this business is lucrative, some people engage in part-time jobs. Just like with the full-time motor trade insurance, a part time motor trade insurance is also useful for protecting the financial status of a business.
While insurance is generally helpful since it allows you to get claims that can be used in case of contingencies and/or peril, qualifying for the motor trade insurance policy isn’t exactly as easy as it seems to be. Yes, you can do your research and contact a lot of insurance providers. But does this guarantee an approval and success? Do you think that all the programs and offers presented address your business needs and wants? Are you eligible and all the requirements you submit can guarantee good results? There are a lot of questions, but there are ways that you can consider to qualify.
Once you’ve considered different options and are quite positive that you will be getting the insurance policy you’ve hoped for, consider these tips:
Values of vehicles
Claims payment under this form of policy will be at the trade price of the car(s) in question. As we know, a trade value is beneficial and mostly described as the price paid for goods by retailers to the wholesaler or the manufacturer. In order to qualify for the policy as efficient as possible, get to know the rules and the regulations. Knowledge is power, after all.
One of the obvious ways that will qualify for this kind of insurance policy is that when you engage in another business or occupation besides the principal business you’re working with. But similar to how difficult it is to engage and oversee business operations, being a part-timer on motor vehicles work shouldn’t be taken lightly. Working in the motor trade for supplementary income doesn’t mean you can easily get the insurance policy.
Coverage and advantages
It is absolutely important that you consult an insurance provider with regard to the recognized and not recognized benefits. A lot of businessmen think just because they observed the policies and disclose all the information they are eligible to receive claims and benefits like regular members have. Keep in mind that every program (especially the ones that involved insurance) has its pros and cons. Of course, you can expect that there are limitations as well.
These are only a few tips which can help you get an approval on the application for an insurance policy. However, you still need to stay up to date. Changes happen and keeping posted can give you the upper hand.