If you run a car sales, repair or valeting business, motor trade insurance is a necessary requirement to ensure you can continue to trade legally.
Although insurance might seem expensive in some cases, there is simply no way you can avoid it.
Taking out a slightly more pricey policy is often advised to ensure your business is completely covered for all day-to-day activities. Imagine the costs you could incur if you don’t have the correct cover in place in comparison to the little bit extra you would spend on added protection.
While many will call a broker to get motor trade insurance at a lower price, spending a little bit more to spread the cost might actually be more helpful for some businesses.
Small businesses might be especially concerned about the amount of money spent in one go when taking out a new policy or renewing an existing one.
Balancing finances is an important part of business management, and could be the difference between survival and being forced to close.
By spreading the cost of insurance, you will find it easier to create a balance between spending and earnings on a month-by-month basis. It might cost you a little bit more in the long-term, but the flexibility of monthly motor trade insurance is, in most cases, more favourable for businesses.
You might find that you spend a lot of money on a policy in one go and then discover that you need to replace some vital equipment or buy some new spare parts. This could put you into a financial problem that you might struggle to get out from.
ChoiceQuote can offer a variety of payment options to help you spread the cost of your motor trade insurance, including direct debit payment over 9 monthly instalments – with an initial deposit – at competitive rates of interest.
Spending a little bit at a time on motor trade insurance means you can be more ready for unexpected outgoings and more confident of making essential purchases when they are needed.