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Part-time Motor Trade Insurance
If you work part time in the motor trade industry this insurance is for you. Whether you work as a valet on evenings and weekends or are a semi retired mechanic who takes odd jobs, you will still need to protect yourself and your business.
Without part time motor trader insurance you leave yourself open to financial loss, liability claims, and recovery fees that you could be responsible for paying off by yourself. But with this insurance, you will be able to choose and combine specific levels of coverage that give you exactly what you need for your specific job.
Cheap NI part time Motor Traders Insurance
When you’re working part time, it’s understandable that you want to find cheap part time motor traders insurance. So you’ll want to shop around and compare prices across different insurers to make sure you are not paying over the odds.
If you compare with us, you can be sure that your prices and results are completely transparent and unbiased. We are regulated by the FCA and do not have any investments in insurance brokers and are not owned by any insurance companies. We only work for you.
How much does part time motor traders insurance cost in Northern Ireland?
Northern Ireland part time motor traders insurance is a type of business insurance that can be personalised to include various levels of cover. So unfortunately it’s nearly impossible to give an average cost as it varies so much for each specific business.
The cost of your part time motor traders insurance will depend on:
- The type of motor trade business you do
- How many vehicles you are insuring
- The value of your vehicles
- How many employees you have
- Your employees’ driving history and age
- Your location
- The levels of coverage you want
- The insurer you choose
- Your claims history
How can I get cheaper NI part time motor traders insurance?
Getting cheaper part time traders insurance NI is possible if you know what insurers are looking at when they set their premiums.
Here are a few areas to consider that could help you get cheaper insurance:
- Know what insurance you need – With part time traders insurance, you’ll be able to choose what coverage you need. But if you don’t know what that is, you could waste money covering something that is already protected under another policy. Check your existing insurance policy details and be clear on what you need to cover before you buy.
- Choose your drivers carefully – If you have employees you need to insure, your premium could be lower if they are considered low risk. This usually means that they have clean driving records are are ideally over 25 years old.
- Proactively protect against claims – This indicates to insurers that you will be less of a risk to insure. This can be things like improving your security with CCTV, alarms or immobilisers. It’s also a good idea to do risk assessments and have risk management measures in place to avoid accidents that can lead to claims.
- Build a no claims discount – It’s important to start building a no claims history on your policy to save money in the long run. It’s also possible that some insurers will let you transfer your personal no claims history to your trader’s policy, so it’s worth checking if this is an option for you.
- Pay your premium annually – Like with other types of insurance, you can get a discount for paying annually rather than monthly.
- Choose higher voluntary excess – This can reduce premium costs but it still needs to be something you are willing and able to pay in the event of a claim.
- Compare quotes from various insurers – Taking the first policy and price you are offered is rarely a cost effective strategy. Shopping around and comparing quotes can often get you a better price on your part-time motor traders insurance NI policy.
Does the location of my business affect the cost of my part time motor traders insurance?
Yes, insurers will look at your location and the past claim rates of similar businesses in your area to gauge your level of risk. For example, if you work in Belfast, it has a higher crime rate relative to the rest of Northern Ireland so insurers may offer you a slightly higher premium. But don’t worry, if this is the case you could counter the cost by upping your security and keeping your premises, tools and vehicles secure with things like CCTV, locks and immobilisers.
What does part time motor traders insurance cover?
Part time traders insurance can include various different cover under one policy. Here are some of the most common types of protection available under this insurance:
- Road risk cover – Covers any vehicle that you drive or work on as part of your business. For example, if you need to test drive a customer’s car or pick up a vehicle you have purchased.
- Social, pleasure and domestic cover – You will need this if you drive a business vehicle for personal activities outside of the scope of your business.
- Goods in transit cover – This protects any expensive tools or equipment that you keep in vans or vehicles from damage, loss and theft.
- Refurb and restoration cover – If you restore cars this can protect them against fire, theft and accidental damage while you are working on them depending on the specific policy details.
- SORN vehicle cover – You’ll need this cover if you store any SORN vehicles on your business premises.
- Demonstration cover – Insures customers so they can test drive vehicles outside of your business premises.
The following options can be covered under part time motor traders insurance, but are often included in other policies so it is important to check if you are already covered for these before adding them to this insurance:
- Employers’ liability cover – This is required by law in Northern Ireland if your business has employees of any kind.
- Public liability insurance – This covers you against claims and their associated costs from members of the public.
- Product liability insurance – Covers claims and the associated costs that come from faulty parts or accidents that result from your work.
- Business premises cover – This can cover your business premises and contents against damage caused by events outlined in your specific insurance policy.
Do I qualify for part time motor traders insurance?
Generally speaking, if you are able to prove to insurers that you are doing part time work in the motor trade industry you will be able to get insurance for part time motor traders NI. This is usually done by providing invoices or records of any payment you have received while carrying out your motor trade business.
A few insurers have additional conditions, but these are typically fairly straightforward things like being over the age of 25 or having held a UK driver’s licence for at least 12 months.
Can a price comparison site help me find cheaper part time motor traders insurance than a specialist broker can?
Even if you have been in the motor trade business for a while, no one is expecting you to be a trade insurance expert. Consulting a specialist broker is one option. But, at CompareNI.com we can quickly match you to a wide range of NI insurers who are used to working with NI businesses and can give you specialised advice and coverage. And with us, you will have more control over what price and policy you choose with no external pressure.