As with any insurance policy, the price will differ based on a number of variables. It also depends on the insurance provider and the type of cover you decide on.

Some insurers will offer the option to spread the cost of the cover with monthly payments. This is ideal to help new businesses get off the ground and support businesses that cannot afford an upfront annual payment. This enables you to pay in monthly instalments by direct debit on the date you wish to pay them and change the amount you pay upfront accordingly.

With comparison websites becoming increasingly popular in the last few years, you may be tempted to shop around when looking for the cheapest cover but this can be a dangerous strategy. Cheaper prices can often mean poorer quality cover or cover that is not right for your business needs. It is not true to believe that all policies are pretty much the same because there are lots of elements (as mentioned above) that will differ between insurers. Different insurers will offer varying levels of cover with different benefits and inclusions. To be aware of which benefits are necessary for your business it is best to speak with a broker for advice and for a motor trade insurance quote to suit you and your business needs.

If you are switching between insurers then you may also want to shop around for different brokers. They they are not all the same either and they will tailor prices and deals for your needs. Some brokers have schemes that are exclusive, especially when it comes to motor trade specialists. The best option is to speak to a motor trade specialist broker because they will have access to more schemes and offers and they have the best knowledge of different business requirements.