Finding, Buying And Retaining The Best Trade Insurance Policy 

There are many risks which a motor business faces. Not all of these losses are controllable. But what one can do is that try to have a protective cover for his business so that in the event of the occurrence of these losses, one is prepared to face them effectively without having any major adverse effect on the running of the business. With the help of these insurance policies, one is able to protect their business premises against losses like fire, theft, liability towards employees in case of a mishap and many other similar losses which, if not covered can amount to huge sums of money and lead to serious financial losses for the motor trade company. Therefore, it becomes essential that all motor companies buy a good comprehensive motor trade insurance policy to protect themselves, their premises and everyone else who is a part of those premises from all sorts of losses.

How To Get The Best Policy

Insurance is a very technical field. There are many terms and conditions attached in a policy which, if not complied with can render the policy completely ineffective. It is this fear of not being able to understand the nitty gritties involved in an insurance policy and not getting the required benefit in spite of having paid high premiums for the same, which makes many people and motor trading company owners question the compulsion of buying these policies. One needs to understand here that the terms and conditions attached to the policies are not very difficult to understand or comply with. They are simply meant to ensure that no fraud occurs through the use of these policies. Many of these terms of the policies are actually present for the benefit of the customer himself. The insurance agents or the experts from the insurance company are always ready to explain all the terms and conditions of the policy to the potential customer. It is part of their duty to clear all the doubts of the customers. In fact, many of these agents help their customers in selecting a policy which is best suited for their needs. Therefore, instead of doubting the effectiveness of these policies, it is a better idea to get your facts straight by contacting these agents and insurance experts and understanding the details of the motor trade insurance policy.

Basic Requirements For Getting An Insurance Policy

Contrary to the common belief of the people that anyone who is ready and has the capacity to pay the required premium can buy an insurance policy, the truth is that there are certain conditions which the potential customer must satisfy in order to be eligible for buying an insurance policy. Some of the conditions required for applying for a motor trade insurance policy are mentioned below:

- There is specified age group and the people falling in this age bracket only can apply for an insurance cover. The generally applicable age range is starting at 21 years and ending at 70 years.

- The country where the insurance cover is sought should have been the permanent residence of the insurance seeker for a minimum period of one year at least. This means that the person applying for the policy should have been the resident of that country for the past one year minimum.

- He should have a permanent driving license of any other similar government issued identity proof and the same should have been valid in the past one year.

- He should be convicted or being tried for any criminal offenses or convictions.

There are many other smaller conditions which a motor trade company owner needs to fulfill in order to be eligible to apply for a motor trade policy.

Circumstances Which Can Render Policy Invalid

There are a few instances where the policy can be declared invalid. Some of those conditions are as below:

- The information provided in the insurance application form is false.

- If at the time of the claim, the driver is being convicted of some crime.

- If the owner had employed a driver will a pending criminal conviction or someone who has been convicted within the past five years and hidden the fact from the insurance company.

There are other similar circumstances as well, which can render a policy ineffective.

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