Top tips for Traders with iQuote Insurance

When you purchase a Traders Insurance policy, we are committed to providing you with the most competitive deal on your Traders policy. Because you are covering your livelihood and vehicle stock, you shouldn't purchase insurance cover purely on price. You should also consider the level of cover required and whether you require additional benefits such as premises or indemnity cover.

We have listed some handy tips designed to save you money on Motor Trade insurance:

• Make sure that any additional drivers you add to your Traders policy are over 25 years of age. Any drivers younger on the policy will result in a significant increase of your insurance premium.
• If you haven't got any No Claims Bonus in the Motor Trade, ask your insurance broker if you can 'mirror' your No Claims from a private car policy. This means you could still get generous discounts even though your No Claims has not been earned in the Trade.
• If you have the available funds, pay for your insurance in one payment at the inception of the policy. Although most brokers can finance your policy, you will pay more for your insurance in interest charges.
• Many policies will not cover high performance vehicles, within your Motor Trader insurance. If you need cover for a Subaru Impreza, Mitsubishi EVO or other high performance vehicles, you must notify your insurance broker or insurer. Otherwise you may unwittingly end up without cover in the event of a claim.
• Consider the amount of additional cover you require, by limiting the amount of premises cover or increasing the voluntary excess you are willing to pay, you can make large savings on the cost of your Motor Trade policy.

To find out more about our Motor Traders Insurance and how much you can save - Get a Motor Trade Quote with iQuote Insurance.

Traders Insurance in times of austerity

In the past week the coalition government has announced a wide range of spending cuts, that will impact across all areas of society. Whether or not the spending cuts directly effect you and your Motor Trade business, there is likely to be a knock on effect to consumer confidence. With potentially hundreds of thousands less in work and with less disposable income to purchase used or new cars. This doesn't just effect vehicle sales, but also car valeters, mechanics and has wide ranging implications for all traders.

Therefore it has become even more important to purchase Motor Traders Insurance keenly. There are a number of factors to consider when purchasing a Motor Trade Policy, price is obviously a key consideration. However price should not be the only factor, you should consider if you do have to make a claim - will your policy provide adequate cover to fully cover the cost of your claim.

When purchasing your Traders Policy, you should review whether you will require Demo Cover, Indemnity and Premises cover on your policy and the level of cover required for each item. When you get a Motor Trade Insurance Quote with iQuote Insurance, you will speak to an expert advisor who will get you the best possible quotation for Traders Insurance - that cuts your costs, but not your cover!

To find out more about a Motor Trade Policy with iQuote Insurance call today: 0845 434 7819

Customer complaints on the increase reports OFT

The Office of Fair Trading has reported an increase in the number of used car complaints from consumers, the number of reported complaints has risen to 38,000 during the first half of 2010. From the perspective of car dealers this is causing costs to rise and increases the importance of choosing the right Motor Trade Insurance policy.

Whilst reputable used car dealers, take every reasonable precaution with vehicles they sell - there is still the potential that a substantial claim could arise from a defective vehicle that has been sold or serviced by you. Therefore indemnity insurance cover on your Motor Trade policy can help protect against this potential risk to your trading activity.

In response to the recent increase in customer complaints, the OFT has launched a campaign to help customers better understand their rights when purchasing a vehicle. Most of the complaints recorded within the figures, have become apparent in the first three months. In such circumstances the dealer will often be responsible for fixing the issue, with no charge to the customer.

Looking to save money on your Traders Insurance? Call us today on: 0845 434 7819 to find out how much you could save.

Auto Trader launches iPhone App

The leading site for Car Dealers and Motor Traders to sell vehicles in the UK - Auto Trader, has launched an iPhone App. The expansion of Auto Traders digital offering to the ubiquitous Apple device will expand the reach of Auto Trader across the UK and have a positive impact on Motor Traders who upload their stock.

Since it's release in 2007 the iPhone has become the 'must have' smartphone across all age groups. For Car Dealers the opportunities to harness the mobile platform to display and sell their vehicles directly to customers should not be missed. From a Motor Traders perspective the critical factors in attracting potential customers in this new arena, are common sense: Ensure the vehicle details are comprehensive and accurate and that there are several photos of the vehicle, taken in good light which display the vehicle inside and out. Within the iPhone App potential purchasers are offered a link to call the seller with one touch, or view the dealers website - which presents an excellent opportunity for Motor Traders to make the sale.

Looking for Motor Traders Insurance? We can help you find the right Motor Trade Policy at the right price.

Vehicle Scrappage boosts sales of Hyundai

The company which has benefited from increased sales is Hyundai, since the scrappage scheme was introduced their UK sales have increased to over 11,000 vehicles. This volume is more than in the previous four months and is bucking the trend of depressed figures elsewhere in the Motor Trade.

For car dealers the scrappage scheme is providing mixed fortunes, due to the weakness of the pound against other currencies (particularly the Euro). The biggest concern is that small cars will just not be available as manufacturers divert the supply of vehicles to schemes elsewhere, with a more favourable exchange rate.

However even for car dealers experiencing a lull, there is some positive news with low cost traders insurance available for combined cover or road risks only from iQuote Insurance. We guarantee to beat any genuine motor trade quote and will provide expert advice and a traders insurance policy tailored to your business.

To find out more about the savings available under the scrappage scheme visit the Hyundai website.

Motor Traders resilient despite the recession

In a recent survey of Motor Traders in the UK, over half were confident of their businesses position despite the tough economic conditions. Less than one in four had immediate fears about their ability to continue to trade and only 8% were considering leaving the Motor Trade voluntarily.

A significant number of Car Dealers sited the issues with gaining finance for both their customers and the businesses themselves as an ongoing issue. Although 70% of the respondents saw an increase in their used car business, which has gone some way to alleviate the issues with new car sales.

However since the introduction of the vehicle scrapping scheme last month in the budget, the balance is set to return to a more equal balance within the industry. The incentive of £2,000 to trade in your older vehicles is expected to drive sales of new cars.

Any increase in sales is welcome news for Motor Traders, further good news was announced last week by iQuote Insurance: Applying online for Motor Trade Insurance could save you up to 40% off your Motor Trade Policy until 31st May 2009.

Budget confirms cash back for your old banger!

Welcome news for car dealers and motor traders in yesterday’s UK budget, the government has introduced the much touted vehicle scrapping scheme. Starting in May motorists who own a car that is more than 10 years old will receive £2,000 to trade their car in for a new vehicle.

Typically new cars are cleaner, more efficient and emit less CO2 than older cars. This move has a double benefit for the environment and to ease the economic situation in the hard pressed motor trade industry.

Motor Traders are encouraged by the new scheme, if the scheme has the same effect as the similar arrangement in Germany it will bring much needed impetus to the new car market.

For Motor Traders whether you buy, sell, service or valet vehicles we can get you a cheaper trader insurance policy. To get immediate cover and the option of ‘pay as you go’ on your motor trade policy - visit iQuote Insurance for your Motor Trade quote.

UK to become centre for Electric car production

Nissan and GM are on the verge of committing to build ground breaking electric cars in the UK. The zero emissions vehicles would save existing jobs and could help create additional jobs, if the current trends towards electric vehicles continues.

This is positive news for the Motor Trade in this country, who have seen reduced footfall through their showrooms and slow vehicle sales in 2009.

Nissan are currently assessing their Sunderland factory as a site for manufacture of 50,000 electric cars per year. The companies goal is to become the world leaders in high volume electric car production. Whilst General Motors are considering manufacturing their latest electric cars on Merseyside.

For Car Dealers, whether you sell petrol, diesel, hybrid or electric vehicles - a Motor Trade Insurance policy with iQuote Insurance could save you money.

10 tips for Cheap Motor Trade Insurance

1. Shop Around
Motor Trade Insurance is a very competitive industry, this works in your favour so make sure you shop around in the market. Apply online for motor trade quotes from different insurers, when comparing quotes look at the level of cover being offered on your Motor Trade Policy.

2. Compare the Motor Trade market online
If you haven't got time to compare all of the different sites, visit a site that will compare motor trade insurance quotes for you. iQuote Motor Trade Insurance, will check the best rates in the market to save you time and money!

3. Motor Trade specialists
For cheap Motor Trade Insurance and the best possible cover for your business, it pays to visit a specialist insurer. By choosing an insurer with specialist knowledge you get the right motor trade cover at the right price.

4. Additional Cover
For Motor Traders having the right insurance cover can save you thousands of pounds over time. A Motor Trade Policy that includes indemnity insurance or cover for your motor trade premises, could be the difference between your business surviving or failing if the worst happens.

5. No Claims Bonus
Even if your bonus has not been earned on a Motor Trade Insurance policy, you could still use it to save money on your current traders policy. Many insurers including iQuote Insurance will mirror your no claims bonus from a private car policy to a Motor Traders policy.

6. Apply online as a new customer
There is every possibility that if you apply with your current insurer as a new customer, that they will provide you with a cheaper quote. If you don't receive a discount for applying online, the only cost to you - is the time spent completing the online form.

7. Voluntary Excess
You might want to look at voluntary excess. This is the amount you pay before the insurance company picks up the rest. This can be small but if you opt for a higher voluntary excess this would seriously lower the cost of a traders insurance policy.

8. Vehicles Cover
Never assume that high performance vehicles or Motor Bikes will automatically be included on a Motor Trade Insurance policy. Always check with the insurer first, this could avoid a costly assumption if you are not covered on the vehicle.

9. Make one single payment for your Motor Trade Policy
It is very convenient to pay for a Motor Trade policy in monthly installments, however this will cost more in the long run. If you can afford to do so, always pay for your Motor Trade Insurance in one payment when you take out the policy.

10. Don't hide details from your insurer
The more information you provide your Motor Trade Insurance Broker, the better tailored the policy can be to your needs. If you hide details to get a lower rate, it will invalidate your insurance cover and may cost vast sums of money if cover is not valid at the point of claim.

RMIF call on Government to action vehicle scrapping scheme

The Retail Motor Industry Federation has again called on the Government to implement a scheme which gives an incentive for owners to scrap vehicles over 9 years old. This has a dual benefit, both environmental and economic - typically newer vehicles produce less emissions, so a scheme designed to take older cars off the road will have a beneficial impact for the environment. The scheme would also bring renewed impetus to the ailing Motor Trade

The potential scheme has been welcomed by Motor Traders who are struggling in the uncertain economic climate. iQuote Insurance have also extended a hand to struggling Motor Traders to beat the credit crunch. Until the end of March there is a 10% discount on any Motor Trade Insurance Policy.

When a similar vehicle scrapping scheme was introduced in Germany the government offered €2,500 to motorists to scrap older vehicles. This has kick started the car sales market, with a 300,000 unit increase expected in 2009 as a direct result of the scheme. Before the move in Germany sales were predicted to fall by 10%, so a 300,000 increase would be a significant achievement.

Within the last week there have been discussions both within Government and in the House of Lords. iQuote Insurance are keen to extend our support to the growing swell of voices in support of this scheme. This scheme can deliver benefits to the environment and to the Motor Trade industry and should become legislation as soon as possible. Any delay will have an impact on the long term prospects of the industry as a whole.