The Direct Choice When Buying Combined Motor Trade Insurance

Whether you purchase your cars new or used, use an independent car service repair or a franchised dealer or get your petrol and fuel from a supermarket or a local service station, the one common thing these type of businesses share is their need for protection and peace of mind in the form of motor trade insurance.

Combined Motor Trade Insurance is actually a type of insurance policy that can provide cover for many types of business in the auto industry including those who specialise in service and repair, sales, petrol sales or bodywork. And as the name suggests, a combined policy is designed for motor traders with premises who want a variety of risks covering under one simple to manage insurance policy.

So once a motor trader has established they need a combined policy they really a have options available to them in respect of how and where they buy it. A still relatively new way in which they can look to purchase motor trade insurance is by dealing direct with an insurance company. The benefit of dealing direct is that the trader can sort everything on their own so in the event of a loss and needing to make a claim, they can ring the insurer directly and deal with them until the claim is settled. This control of the policy is favoured by many motor traders who are happy that they understand exactly what they want and are happy to negotiate with insurance companies on premiums and claims settlements.

The second option available when buying combined motor trade insurance is still the one favoured by the majority of companies and that is to use an insurance broker. The benefits of using a broker are numerous and range from their ability to approach several different insurers to in some cases being able to offer you expert advice and guidance which could help reduce your exposure to risk and your premiums. When you combine this with the service that some brokers provide when you suffer a loss in that they will negotiate with your insurer to make sure your claim is settled quickly and favourably you can see why using a broker is still the desired choice for most motor traders.

There really is no wrong or right decision and whether you deal direct with an insurer or via an insurance broker who specialises in motor trade policies is really down to personal opinion. As motor traders you should however be aware of the options available and make the choice on what is best for you and your business. Make the right decision and there is every chance in the current financial climate that your combined motor trade insurance premium could reduce in the coming year.

This article was written by Mark Burdett from NCi Motor Trade. Mark has over 17 years Marketing experience in the Financial Services industry and has worked on campaigns for companies including Norwich Union, Kia and Zurich.

Now based in Newcastle upon Tyne Mark works for one of the UK's Leading Motor Trade Insurance Brokers - NCi Motor Trade.

Would "Pay As You Drive" Car Insurance Work For You

If you need the convenience a car provides but are never-the-less a low mileage driver, then a "pay as you drive" insurance policy might suit you down to the ground - and it will save you money enroute!

Pay as you drive policies were introduced some years ago by Norwich Union and they proved popular with its customers, However, Norwich Union subsequently withdrew from the product as costs were found to be too high. Now it seems in the midst of the recessionary days of this year, the whole concept of pay as you drive is being revived. Several big insurance companies are planning to offer it as an option.

To apply for this sort of insurance you need a realistic estimated of your mileage, and be able to break that down between driving at various times of the day and different days of the week. For example; your mileage Monday to Friday between 7.30am to 9.30am and 4.30pm - 6.30pm (those are peak times but excluding bank holidays), and also evenings, nights and weekends (off peak). If after say 2 or 3 months you find that your mileage is less than you initially estimated, (for example, you no longer drive your husband to work each day), your monthly insurance payments will drop, or if you paid in full in advance your overpayment will be refunded. But, if your mileage was grater than you estimated, your payments will increase accordingly.

To operate the system your insurer fits a global positioning system (GPS) into your car. The device is free, but you will be charged an installation fee of around 39 pounds. The insurer is then able to use the GPS to monitor how far you are driving, and at what times of the day and charge you accordingly. This also has a most welcome bi-product - your car now has theft tracking - and up to 98 per cent of stolen cars with GPS are recovered within the day!

Another potential benefit is available if you are a young driver. Some insurers are offering a Young Driver Free Miles bonus. This is being given after a 3-month claim free period. But the insurer is likely to charge young drivers extra for driving between 11.00pm and 6.00am which are classed as 'super peak' periods as those times are generally accepted as representing the most dangerous times for young drivers to be on the road.

You may dislike the idea that your driving movements are being monitored from above - but it could save you a lot of money! And remember, your precious car will now be tracked if it was stolen - and you are highly likely to get it back quickly.

Cheaper premiums should be greatly welcomed by younger drivers who often face huge car insurance premiums. These pay as you go policies will help to save them some serious money. They also encourage them to leave the car at home late at night when they are at greater risk of having an accident.

As with all types of insurance, it is essential to shop around for the best deal. Always use the Internet to find an independent broker who can advise you on the full range of policies available.