Tips to Reduce Your Motor Trade Insurance Premium

If you are preparing to sell cars, one of the various things that you should put into consideration is motor trade insurance. If you intend to venture into the motor trade industry, insurance will protect your cars as well as your health. Presented below are some tips to help you part with less for your motor trade insurance.


costGive the Correct Information

Providing the accurate details is essential when applying for motor trade insurance. Some folks think that critical hiding data will help them to slash their premiums. However, this is not the case. In fact, giving false information to your insurance service provider might cost you more than you think. For instance, if you are making a claim and the insurance firm realizes that you gave them the wrong information you could end up digging dip into your pockets to pay bills.


Take Advantage of No Claims Bonus

Next, if you have a no claims bonus on a different insurance plan, be it another motor trade policy or car insurance, you should part with less cash for premiums. Some motor traders holding private car insurance as well as motor trade insurance arent aware the two plans affect each other. For this reason, its advisable to chat with your motor trade insurance provider to find out if you are eligible and can utilize your no claims bonus.


Utilize Driving Restrictions

Another critical piece of advice that will help you to slash your motor trade insurance premium is carefully reviewing who drives the vehicles that you intend to sell. And that is not all. You should also shed more light on the vehicles that they should drive. Inquire if your insurance service provider can tailor a plan to allow only specific drivers to drive the cars you want to sell. It’s true that policies that allow any driver to drive your wheels are much more expensive because the drivers might be inexperienced and quickly cause accidents. Employ drivers with a clean driving record to have a peace of mind.


car filesReconcile Your Premium Once

Try as much as possible to pay your premium once if money is not a problem. You will discern that it’s much cheaper to make payments without delay. If you are not able to pay your premium at once, you can talk to your insurance provider to allow you to spread the payment. However, in most cases, you will have to burn a hole in your pocket for the service. If you make a single lump sum payment, you won’t have to worry about interest and struggling to get cash for the installments.


Look for a Broker

Last but not least, when hunting for a motor trade insurance plan, search for a specialist to take you through the process. For example, you can take advantage of an insurance broker that deals with successful motor traders because they are aware of the requirements and will go out of their way to get you a better deal. For more about motor trade insurance, you can visit this website.

financial adviser

Role Played By Financial Advisers

Planning about the financial future of a person is very important. Individuals who are planning to retire on their income should start planning their finances and saving money in early adulthood. Making sound financial decisions is something that many people don’t understand. Financial advisers can help such people in making wise decisions and managing their finances. This post is going to share the benefits of hiring a reputable financial advisor cincinnati.

Why do You Need to Hire a Financial Adviser/Planner?

Planning Your Retirement

smart ideas-planning

Everyone should be responsible for his or her retirement. This means that you should start saving money aside as soon as you start earning your first salary. Avoid waiting until the last minute as this might end up spelling a financial disaster for your family and you. Hiring a financial advisor can help you in planning about your future and retirement in the smartest way possible. He or she will help you in addressing all the uncertainties in your future by developing a comprehensive saving plan. You should always stick to your retirement plan.

Making Smart Investments

Investing is one of the effective methods of preparing for your future. Your future will be fruitful if you start planning early. People who don’t invest wisely may end up impelling their savings. A financial planner can help you in making smart investments that can pay off shortly. He or she will also make sure that you are not put at financial risks.

Easy Portfolio Management

Individuals who are busy throughout the year may not have ample time for managing their portfolio. Other people don’t have suitable skills required in managing their portfolio. A financial advisor will greatly help you in managing your portfolio without interrupting with your busy schedule. In fact, you will just be meeting with him or her on rare occasions.

Provide You with Knowledge and Expertise


A good advisor will be ready to share his or her expertise with you. Some of the useful concepts that you can learn from them include standard deviations, P/E ratios, gamma, beta, and risk weighing. They can also take their precious time and explain to their clients about the main factors that may impact their investment portfolios. These are some of the meaningful discussions that help people in sticking to their goals and avoiding unnecessary risks.

Reduce Financial Stress

This professional will make your load lighter and reduce your financial burdens which can stress you. They have been helping many people in simplifying their financial options. This is one of the effective ways of avoiding the costly mistakes that may ruin your long and short-term financial goals.


Factors to consider before making an investment

Investing in a business is a great way to generate more income. However, it comes with various risks as you may also experience losses. It is therefore very important to take caution when choosing the business in which you will invest. There are many factors, which you should put into consideration to help you make the right decision. Some of the top factors to consider are highlighted below.

Main factors to consider



Capital refers to the money and assets that you will have to put into the business. The amount of capital that you can get plays a major role in determining the business that you can invest in. The more capital you have, the more options you will get. Also, the more you invest, the more income you are likely to get. There are many options for you to get capital if you do not have enough. Getting a loan or looking for an investor if you have entrepreneurial skills are good examples.

Risk factor

As mentioned earlier, there are some chances that you might make losses when it comes to business. You should put into consideration the probability of you making losses against that of making a profit. A business that has a high chance of making a profit and very little chance of making losses would be a good choice. A good example is investing in fixed assets. However, one of the business rules is that higher risks come with higher rewards. This means that you stand to gain a lot more when you choose a risky business. You might need a professional to help you analyze the risk factor.

Time horizon

tfgfdrj57tufrj5t6kyiuIt takes some time before a business begins to make a profit. The duration from when you start the business to when you break even and start making profits is what is referred to as time horizon. You need to consider how long you are willing to wait before you make a profit and choose a business that matches will match the time line. There is no way of determining the time horizon accurately as there are many influencing factors which you may not be able to control. This means that you have to work with an approximation.

Learning curve

If you are new to the business, you will have to go through a learning curve. This is more of the case for businesses that require a particular type of expertise. If possible, choose a business that involves something which you are already good at.