If you are in motor trade industry, and if you are coming up for your renewal the traders can for a part time motor trade insurance instead of full time policy in order to cut the costs. The difference between them is that the part time trader will have occupation that forms their primary source of income. It is an extra source of income for those who trade part time. It is also stripped down to bare minimum level due to the risk profile being less.
Full time cover is thorough and part time can be thorough and is cheaper. Due to the increased level of trade activity the full time cover costs more. There is a higher chance of an accident happening that result is due to the greater level of trade activity. You will be able to gain an extension to your policy the covers your main business and will also combine your policies reducing your insurance costs if you are working as a sole trader and if it is a source of your primary income. You also need to prove a level or trade activity to the insurer.
How is part time insurance better?
In the part time policy you have to show proof of buying and selling at least 6 cars for the year. You have to show multiple receipts or the invoices of your work. You cannot obtain a policy as repairing or selling 2 cars a year does not qualify as a business. Part time traders are car dealers or mechanics. Traders of the size will do a mixture of mechanical work and selling motors.
Others can only take out part time motor trade insurance that includes valeters, breakdown recovery options, collections and delivery drivers. Cheap traders insurance is only given to those who have applied for it. The price depends on the risk profile as how well you have maintained your no claim bonus, your trading location and more. You can also have competitive policy still even with a less than perfect risk profile. Get the cheap part time motor trade insurance quote on our website at https://www.total-insurance.co.uk/motor-trade-insurance/part-time-motor-trade-insurance