Motor Trade Insurance Comparison

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When obtaining quotes to protect your business it’s important to fully understand the need of motor trade insurance comparison. You could obtain one quote, review it and sign for it, but is it the best possible offer? Did you get the cover you needed? Are you paying too much?

Saving money is on the forefront of everyone’s mind these days, you want the best level of cover for the lowest possible price and why not? There is no reason you should be paying a fortune each year just to ensure your business is safely protected. It’s the higher prices which caused so many companies to allow their policies to lapse during the recession, a very dangerous situation to put yourself in.

Taking the time to obtain a number of quotes in writing. I always suggest three, three is a good number when it comes time to checking them against each other.

If you are applying online the quotes will come directly into your email inbox, enabling you to spend an evening at home on the couch to go through each one with a fine tooth comb.

It is so important to review each quote thoroughly, you may find that you are not offered enough public liability cover or that the policy is only covering you for third party cover. Both of which you know will not be enough should you ever need to claim. You want the policy to offer you the best level of protection possible so that it saves you money in the long run, otherwise you are paying annually for a cover that you will still need to pay into should you ever claim.

Once you have reviewed all the quotes contact the brokers to make the necessary changes, you’ll notice the premium offered will change. This may depend on how many drivers you add to the policy, what risk these drivers pose to the broker and whether you have any security systems in place in your place of work. Everything is included to determine how much of a risk you are to the broker.

When you have chosen one quote that stands out, don’t just accept it. Be sure to check the customer reviews on the broker, you want a broker that is reliable and reputable and one that offers a fast and effective claims process. Being your business, should you ever need to claim you want peace of mind that your claim will be processed in a timely manner and this is why motor tradeinsurance comparison is so important when obtaining cover for your business.

The Do's and Dont's of Becoming a Motor Trader

Deciding to become a motor trader and open your own business takes a lot of time and consideration, there are certain things you need to ensure are done before you open the doors and there are plenty mistakes you can make a long the way.

What You Must Do

One of the first things you will want to do once you have found and signed for a suitable property is to get your insurance in place. Opening the doors to any business without adequate insurance is a disaster waiting to happen.

Firstly ensure that it covers your building and tools along with your ability to drive customer vehicles. In the event of an accident in a customers vehicle you want the repairs or replacement to be carried out as quickly as possible.

The next thing after insurance is to ensure you have a good website. These days the website is an essential asset, people don't search the telephone directory any more, they go online, learn as much as they can about the business before even considering to book their vehicle in.

Lastly you must offer exceptional customer service, you want repeat and referral business, this is the business that keeps your company's doors open, you cannot rely on marketing alone.

What You Must Never Do

While there are so many things you can do right, there are mistakes you can make along the way, mistakes that can cost you dearly in the long run.

The first mistake is when hiring staff you forget or don't bother getting employer's liability insurance. Now what you may not realise is this is a legal requirement in the UK which protects you when a staff member injures themselves at work. It can amount to thousands in claims and can leave you in serious financial trouble.

Another thing you must never do is allow potential buyers to drive a vehicle you have for sale without having the right cover in place. Demonstration cover enables you to allow customers to try before they buy. This also increases your chances of making a sale.

Lastly what you must never do under any circumstances is to lie to your customers. Your customers are what keeps the business going and you want to enjoy the benefit of repeat and referral business. While marketing online can increase brand awareness, as a motor trader you need your customers to make profits and rise to success.

Using Online Sites to Compare Motor Trade Insurance

A few years ago if you wanted to obtain a policy online you would have to phone each broker and discuss your requirements with them. Then the internet opened up new doors allowing you to compare motor trade insurance quotes without any hassle or fuss.

The advantage is that in your busy day owning a business you don’t have time to sit down and phone brokers one at a time or fill out a medley of online forms for each quote you need and you know you need at least three quotes to determine the best deal. What are your options?

Comparison sites offer convenience and ease of use that can save you time and energy. The great thing is that you can obtain your quotes in the comfort of your own home in the evening and it won’t interfere with your daily duties at work.

These sites work where you fill out one form with your requirements and the site then approaches a large number of brokers who will quote on the information received. This can save so much time and energy and with only one form to fill out you cannot go wrong.

The best thing is that you are not obliged to accept any of the quotes, they will be submitted to your email inbox offering you the ability to review each one and then compare them against each other.

The Importance of Reviewing Quote

When obtaining quotes online it is so important to review each one thoroughly. You will find some of the quotes come in with a price that is almost too good to be true. The reason for this is that the broker doesn’t have all the information they provide and can only base the quote on general circumstances.

Some of the things you will find is that they only offer third party cover on your road risks or they offer very little or no public liability cover. Both of which you know are essential for your business and without them you could end up in serious financial trouble.

Amend and Compare

Choose three quotes which stand out above the rest and then have them amended to meet your immediate requirements by the broker. This is a good opportunity for you to determine how flexible the broker is as you will need to make changes to your policy throughout the year as your business needs change.

Once armed with the new amended quotes you can review them again to ensure that they are correct and then compare them against each other to find the best suitable match.

Finally once you are happy that you have set enough time aside to compare motor trade insurance quotes, you can pick the best one and sign on the dotted line.

What Do I Need To Study To Get a Job In The Motor Trade?

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If you are thinking of joining the motor trade the sector you are interested in will determine what you need to study. Bear in mind that this industry doesn't only relate to vehicle repairs, there are sales, accounts, dealership management, restoration and so much more.

Vehicle Sales

If you are interested in selling cars either for a large dealership or opening your own smaller independent business, then a sales degree of some kind can be useful, but not essential.

For vehicle sales you need confidence, a good knowledge of cars and superior communication and organisational skills. Many school leavers turn to car sales to make an income without any sales or marketing degree, you are able to get ahead without them, but an additional degree can be useful to help you close the deal.

Management

Many of the larger dealerships are looking for branch managers to run their stores. This requires a management degree and the ability to manage staff, communicate effectively and delegate. As a manager you will be responsible for the entire branch, meeting sales targets, managing both sales and administrative staff and dealing with customer complaints and problem solving.

Bookkeepers and Accountants

An accounting degree is essential if you want to work for one of the larger companies. All businesses need accountants but the larger companies will hire in-house accountants and if you are interested in joining this sector you will need an accounting degree.

Workshop

If you love restoring old cars or fixing new cars a mechanical engineering degree can be useful but not always essential. Many schools offer mechanics as an additional subject, so if you really want to get your foot in the door this is a good place to start.

If you have been a person that has always spent your weekends fixing up old bangers in your garage, then you can get away with not having a degree, not all workshops find this essential as long as you know engines, can problem solve and can carry out the repairs effectively.

In many cases throughout the industry you are able to find intern ships where you can learn as you work, even though you will be paid substantially less than someone who is already qualified, it's a wonderful opportunity to get your feet wet.

If you are able to get an intern ship you are able to work and study at the same time, or maybe help out after school on certain days. These intern ships can often lead to full time employment once you are qualified, but the advantage is that you gain valuable hands on experience while you study to enter the motor trade job market.

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Motor Trade Insurance Is Essential, and Here's 5 Reasons Why

When it comes to your motor trade insurance, you need to have the best possible cover to keep your business protected at all times. Here are five reasons why you cannot be without this cover.

Driving Customer Vehicles

One of the biggest risks you face in your industry whether you are repairing vehicles or selling them is driving customer vehicles. You need to drive these vehicles to find faults, check repairs have been carried out effectively and determine whether you want to buy them to sell on your forecourt.

What you may find is that you are offered three types of road risks cover. There is the third party cover, the thirty party fire and theft cover and then the comprehensive cover. The comprehensive cover is the safest option for any business as it protects both the third party vehicle or property and your customer vehicle.

Customers Driving Your Vehicles

If you are in the car sales sector of the industry, your biggest risk is enabling customers to get into vehicles you have for sale and heading out onto the UK roads. This is money you have already spent and it's profits that are driving off to be test driven.

Demonstration cover offers you the cover you need to enable customers to test drive vehicles before they buy without you having to worry about losing money should they be involved in an accident.

Customers Visiting Your Property

Your work is dangerous and there are a lot of things that can go wrong and one of them is a customer injuring themselves while visiting your property. It can be the smallest incident such as a trip when they stand in some oil which hasn't been cleaned up, but that little trip can leave you in serious financial difficulty.

You may not be aware but you are legally responsible for any claims against you when it comes to public liability, this can mean that if you do not have cover or adequate cover, you will need to pay the claim out from your bank account.

Your Staff

It is a legal requirement in the UK to have employer's liability cover when you hire one or more staff members. This cover protects you should a staff member injure themselves at work. They can claim for loss of income while they recover and if you have the right protection in place this will not leave you with an empty bank account.

Protect Your Equipment

Over and above your actual building, you need to know that your tools and equipment are protected. Some of this equipment can be extremely expensive especially when talking about diagnostic equipment. You can enjoy peace of mind with your motor trade insurance by knowing that all your tools and equipment are protected against fire, theft or damage.

Reasons You May Be Interested in Different Types of Motor Trades

When joining this industry you are not restricted to one sector of the industry, there are many motor trades to choose from, which is why it may be of interest to you.

Many people that think of this industry immediately gear their thoughts to the mechanical side of the trade. Mechanical workshops are found throughout the country and are a very important aspect of the industry as a whole. Without these mechanical workshops the vehicles on our roads would not be safe, they would be breaking down on a regular basis and there would be more accidents to account for.

Most people join the mechanical side of the industry because they enjoy the ability to problem solve, find the solution to the problem and fix the vehicle. Many who choose this sector of the industry as a career have been tinkering with cars for many years, some since they were children tucked away in the garage with dad working on cars and bikes.

Then there is the sales side of the industry, which offers the opportunity to combine your sales and marketing degree with your love of vehicles. This is a very niche market where sales people have a vast knowledge of motor vehicles and combined with a college or university degree, they are able to join this sector of the industry and enjoy what they really love, cars and sales.

There are many job opportunities in the industry for those who love restoring older vehicles to their former glory, managers, accountants and secretaries. The industry requires a diverse number of individuals to run and whether you are a mechanic or an accountant, your services will be needed.

For those with management degrees there are the larger franchised dealerships that are always looking for quality managers. People who love cars, but at the same time can manage staff, ensure they reach targets and come up with new and inventive marketing initiatives.

Some are lucky enough to get into the very niche market where they build vehicles according to customer specification, I am sure you've seen “Hot Rod” and “Fast and Loud” on television. These are niche markets, markets where you can use your creativity and combine it with your love of vehicles, your mechanical knowledge or panel beating knowledge to produce quality vehicles for customers.

There are so many sectors of the motor trade that you may be interested in. It's advisable to learn about each of the sectors of the industry before making your final decision.

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Roll Top Hyundai Veloster C3 Concept - LA Motor Show

Another fantastic concept to be released at the LA International Auto Show is another modification to the Hyundai Veloster.

This one features a bike with a very similar paint job proving that it can sit in the newly modified C3 roll top roof. The tailgate of the vehicle opens up and the roof does what it says on the tin, rolls up.

The name C3 comes from 'Convertible Three-Door', which is exactly what this is.

Hyundai say:

"In convertible mode with the top rolled back, the C3 is a free spirit for driving along the Pacific Coast Highway. Roll the top forward, open the tailgate, fold the rear seats and the C3 goes into recreation mode - perfect for surfing, biking or kayaking,"

Where to Find the Best Motor Trade Discounts

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Motor trade discounts can be an important part of your business, getting the best deals can save you a fortune in the long run, reducing bills and increasing your profits.

Online

The internet has become a world of knowledge at your fingertips and it's here where you can find some of the greatest deals whether you are looking for parts for a vehicle you are repairing, trying to find a cheaper insurance quote or even trying to find cheaper electricity or gas prices.

Using the internet to your advantage can be done in the evenings and doesn't have to take you away from your work during the day, enabling you to concentrate on your business during opening hours.

If you are working on a vehicle and your normal suppliers can't help with parts, you can buy online, you can order from anywhere online paying a shipping price and be able to assist your customer. Depending on where you order from will determine how long the parts time to arrive, but at least you can offer the service that the customer expects and get their car repaired.

Getting insurance quotes or comparing gas and electricity can all be done with a few clicks of the mouse where you can find the best possible deals and reduce your overall monthly budget dramatically. Every penny you can save goes into profits, if you can find cheaper parts your profits soar, you don't have to charge so much labour if you can reduce your monthly expenditure making you competitive in your area.

Suppliers

If suppliers are guaranteed a decent amount of orders from one business they will happily offer a discount. Chances are you are already receiving a trade deal on parts and supplies that you purchase, but if you sit down and choose one or two suppliers and discuss your needs with them, guaranteeing them that you will only buy parts from them, you will probably get a bigger discount.

This works in all sectors of the industry. Suppliers understand demand and if they can be guaranteed a set amount of orders, they will guarantee a better price. This may be on a scale, so depending on the amount you order will depend on the price you can get the parts at, any saving is a bonus in your industry.

Promotions

Some companies will offer various products and services to different businesses and when you see a company offering motor trade discounts you need to jump at the opportunity. Wherever you can save money in this economic climate is a blessing and can help your business increase it's profits over a set period of time.