What is the minimum age for traders insurance?
In practice, motor trade insurance for under 25’s is difficult to obtain. Quote Generator constantly looks across its panel of insurers to see what they are willing to offer in terms of young motor traders insurance, but the reality is that you are best starting off gaining no claims bonus on a private car policy first – and learning the trade from more experienced motor traders – before you attempt to take out a policy in your own right.
Many websites that allow you to compare motor trade insurance online might advise that insurance is obtainable for under 25’s, but you will frequently find that they aren’t selling insurance directly to you, and are relying on specialist brokers to get insurance on your behalf – and it often doesn’t come cheap, if you can get it at all.
The reason for this is simple enough – the experience of insurers shows trusting drivers at a young age to drive a variety of vehicles, with different types of chassis, engine size, transmission and modes of operation, is more likely to lead to incidents or accidents occurring on the road. Especially where the motor trade is concerned, the fitting of telematics to vehicles is also an issue – if you are buying and selling cars on an ongoing basis, then you won’t be able to simple move telematics devices and cameras from one vehicle to another. This is one of the ways that young drivers can save money on private car insurance, but it isn’t quite so easy when it comes to motor trade insurance.
Quote Generator is the leading provider of cheap online road risks insurance in the UK, but we recommend that younger drivers build up their experience outside of the motor trade first before attempting to obtain a quote for motor trade insurance.