Trade Car Insurance
Trade car insurance entails either coverage for shorter durations a variety of cars purchased for the sole purpose of reselling them or driving a special trade car with enhanced capabilities. Usually, used car vendors or car enthusiasts who like to tinker with cars opt for this type of cover, for it’s far easier transferring vehicles onto a policy and off again than it is constantly purchasing new insurance for each vehicle. This quick-trade car insurance is becoming more popular as people look to earn a few more pounds by quick-selling cars for a profit. Trade car insurance is usually sold only by speciality carriers, and they might be difficult to find. Thankfully, the Internet has searching for reliable cover so much easier than trudging from place to place or calling over the known world in search of the elusive cover called trade car insurance.
The Business of Trade
As with all insurance type searches, having all your information readily available will streamline your quest. Because this type of coverage involves hopefully quick and frequent adjustments, start with a trusted provider. Start small with your coverage and ensure the fit between the company and your goals melds well. As you gain confidence in your endeavour and your insurance company, then you can expand your trade car business and your coverage with greater certainty. Don’t let enthusiasm override good sense, though. If you feel any discomfort about dealing with an unknown company, do your research: Contact the Financial Services Authority or the Association of British Insurers for reliable data about the company and the cover benefits offered.
One common error people make as they look for trade car insurance is to mistake this coverage type for short-term insurance, based on projected turn-around times of covered vehicles. Trade car insurance and temporary insurance are not the same things. Trade car cover is a speciality cover that maintains the same policy number, conditions and term. What changes is the premium, based on the number and type of vehicles you insure. Know your maximum budget for cover, for that figure will determine not only which policy to purchase but how much you can expand your business and your coverage as you gain experience at the trade car business.
The Benefit of Insurance
Because a car’s appearance plays a large part in attracting a potential buyer, comprehensive insurance is often the preferred insurance category for those looking for trade car insurance. It is often the only type of cover offered as trade car insurance as well, since comprehensive cover is the only protection for the driven car, regardless of who was at fault for an auto accident. Unfortunately, comprehensive trade car insurance does have the highest price tag for any trade car insurance category, but it offers the most benefits for the money, which is an important business expense consideration.
Because both the trade car business and trade car insurance providers involve a very small, extremely competitive, almost dog-eat-dog environment, seek unbiased opinion regarding the insurance company whose policy you buy. Trade and car magazines all have insurance adverts; used car retailers need insurance, and they might gain credibility if you don’t tell them you are in the trade car business, and even insurance brokers might help you find viable trade car insurance. You can also contact the Financial Services Authority and the Association of British Insurers for unbiased opinions.
Whether you operate a trade car business or you like driving a trade car that has special capabilities, trade car insurance that is affordable and versatile can be found with patience and due diligence. If you drive these enhanced cars, they must pass inspection by the Department for Transportation, but when you have all the documentation and the insurance, enjoy driving these custom-made trade cars.
If you are in the trade car business, seek the right type of trade car insurance from only an authorised insurance company to maximise your benefits and your protection as you “wheel and deal” these quick-sell cars.