Motor Trade looking up

Motor Trade Insurance market encouraging.

One area of business which seems to have avoided the general economic gloom, is the Motor Trade Insurance with a near 20% increase in the number of traders seeking insurance in order for them to be able to legally carry out their business in the Motor trade.One reason for this upturn is the increase in the number of one man businesses being set up within the Motor trade as a result of the reduction in man power at the bigger companies, whom as a result of the economic downturn have had to shed thousands of jobs .

                                 There are many different types of businesses being set up related to the motor industry from selling second hand cars,vehicle valeters, mechanics, auto electricians, collection and delivery agents all of whom need some form of Motor Trade Insurance whether it be to provide minimum Third Party or Third Party Fire and Theft cover to Comprehensive cover which can be tailored to suit a particular business need. As with private Car Insurance the premiums will reflect the risk of accidents ,theft etc. and if for example a mechanic decides to specialise in high performance cars because that is where his/her expertise lies ,then a hefty premium will be levied by the insurance company.Similarly someone who may for example need 3 or 4 small vans or cars such as a valeter may be surprised how cheap his Motor Trade or Van Insurance will be.

                                  Your premium will also reflect the area in which the business is located. Large inner City areas such as London, Birmingham, Manchester, Liverpool and Glasgow will be the most expensive due to higher accident rates and a greater number of thefts, more rural areas and smaller connurbations E.G Aberdeen, Bath, Bournemouth, Dundee, Exeter, Ipswich, Plymouth,Taunton and Worcester attract the lowest premiums.