As with any offer you might receive from a motor trade insurance broker, you need to compare the finer details to understand exactly what the costs are. As if the market wasn't difficult enough to navigate, you also need to consider pricing of policies depending on how you wish to pay. Eh? For instance, is zero deposit the best way to finance my motortrade cover or what if another insurer is selling a policy but wants me to pay a deposit? Are they offering the same stuff as the quotes are both tailored!?!
It can be confusing getting your head around all the offers and terminology. Why do you have to pay a deposit anyway? Well you don't if you're paying for a whole year's annual insurance trade premiums up front. As the insurer has their money and the broker their fee. Not every business can afford to shell out for a whole year of trade coverage in advance. No matter if the Goods in Transit class cover is cheaper, public liability insurance a great deal or driver no claims bonuses can be pooled.
Is zero deposit the best way to finance my motortrade cover? It's the best way if it suits you. Some brokers and insurance houses will ask you to pay a deposit, this can be a percentage of the entire amount. Others will not charge you anything on top and suggest 0% finance. If all policy particulars are the same, sums values the same and you get the same benefits such as private vehicles insured, you can compare cost. If the no deposit value and premiums are cheaper than the monthly premiums plus deposit over an annual term. You'll know which policy to choose. But are the particulars the same?