Getting car insurance is expensive when you are under 25 and even harder if you work anywhere within the motor trade. Working in the trade necessitates a different type of insurance, and the same stricter rules apply.
Lies, Damned Lies, and Statistics
Sadly, the statistics say that if you are a younger driver, you are more likely to have an accident than someone older. This is why insurance is so much more expensive for young drivers. But older drivers don’t need to get too smug: when we get to a certain age, our reactions slow down again, and our premiums rise. This poses a problem for employers who want to have a diverse workforce but know that this is going to cost them more money in an already difficult market.
Unfortunately, the advice was given to domestic drivers to find ways to reduce their premiums, such as multi-car policies. However, shopping around doesn’t necessarily work with trade policies.
What Can Be Done?
It depends on the young person’s job – if it’s your company, and you are on your own, it’s going to be tough. Maybe there is an older person who could partner with you? Could you stay away from high-performance vehicles?
If your job is in service or repair, you might be able to get motor trade insurance under age 25, but for a sales role, it is far less likely. Of course, the advice to shop around still holds true. As an alternative, there are plenty of brokers out there, so look for one who might be able to help such as quotemetoday.co.uk.
Differences in Policies
There are three main types of policy. Road risk only is for those who drive vehicles on public roads. If you have to test-drive vehicles, this is for you. Liability insurance is for those whose customers may take legal action against them, as a result of accidents. A combined motor trade policy covers premises and drivers – a must if you have a forecourt or somewhere you carry out repairs.
What Should You Do?
As with any insurance, check that you have adequate cover, but don’t over-insure. Make a list of all the situations in which your drivers drive and then check with your broker or insurer that they cover you for that and just that.
