If you’ve ever considered starting a business in the motor trade but aren’t sure exactly what is required then the information below should make for interesting reading.

What types of motor trade businesses are there?

The main types of motor trade businesses are those that make money through buying, modifying or repairing vehicles. Some typical motor trade business types include –

• MOT garages
• Car showrooms
• Auction houses
• Mechanics
• Valeters

Do you need premises?

Whether or not you need a premises will depend upon what type of business it is. A mobile mechanic doesn’t need a premises in theory since they’re usually working on the road and using tools from their van. However if you’re doing something such as car sales or MOT repairs, then you’ll certainly need a premises. 

What type of insurance do you need?

The exact type of cover you need will depend on the type of motor trade business you have. For example if you’re a mechanic then you’ll want to get a UK mechanics insurance policy that covers you for the risks associated with that job.

To qualify for motor trade insurance you need to –

• Be at least 21 years old
• Have a full UK drivers licence
• Be able to prove you work in the motor trade

What types of policies are available?

The main types of policies are –

• Road risks – Road risks insurance is essential for most types of motor trade businesses. It will allow the policy holder and their employees to work on customer vehicles as well as transporting them. It’s also possible to get cover for your personal vehicle as well as any vehicles your business owns.
• Part time traders insurance – You can also get part time traders insurance policies from sites like https://www.traders-insurance.com/part-time-traders-insurance. Part time traders insurance will cover you only for the period of time you require.
• Combined motor trade insurance – A combined motor trade insurance policy providers cover for all aspects of a motor trade business, from vehicles to the business premises, tools, stock and cash.

How much will it cost?

The cost of a motor trade insurance policy will depend on a number of variables; some of the most important being –

• Your age – Your age will always play a factor when it comes to the cost of insurance. Under 25s can expect to pay considerably more for a policy simply because they’re considered higher risk.
• The type of business you need cover for – The type of business you need cover for will also play a role in how much your cover costs. Things like the size of your business, the type of vehicles you deal with and the number of employees you have will be taken into account.
• The level of cover you take out – As you would expect a basic road risks insurance policy will cost less than a policy that has many cover options such as liability claims, legal fees, premises cover etc.

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If you have a good amount of driving experience and are looking for a change in careers then working as a taxi driver could be for you.

Below are some of the biggest things you need to think about when it comes to driving a taxi for a living as well as some tips on saving money on taxi insurance.

Biggest considerations

• Public hire vs private hire – The two main types of taxis on UK roads are public hire and private hire. Public hire taxis are those that have a ‘taxi’ sign on the roof and can be hailed from the street. Public hire taxis can only be booked in advance and cannot display a taxi sign. Public hire taxi work is generally safer. Whichever type of taxi driver you want to work as, you will need to apply for a taxi driver’s licence.
• Hours – If you’re considering working as a taxi driver then you need to think about how flexible your available hours are. If you have young children then it might not be suitable for you, especially if you need to work anti-social hours.
• Suitability – Another key consideration is how suited you are to the job. There are some great aspects to driving a taxi for a living – meeting new people all the time, having a great knowledge of your own city, not being tied to a desk etc. However there are also downsides – sometimes you’ll deal with difficult or even violent passengers, it can be very stressful at times and you’ll need to pay for your own fuel and insurance. Only you can know for sure if you’re suited to the job.

Getting private hire taxi insurance

If you do decide to work as a private hire taxi driver then you’ll need to get the right cover. Private hire taxi insurance is available from many specialist insurance providers and getting quotes is now easier than ever thanks to the internet.

In addition to getting multiple quotes, some other great ways to save money are –

• Parking your vehicle securely – This is one of the biggest things that will affect the cost of your insurance policy. People who have a locked garage to keep their taxi in will pay considerably less than those who park it on the street.
• Increasing your excess – Increasing your excess is another way to cut the price of your premium although it is somewhat risky.

If you live in a rural area then there’s a good chance you’ve considered ways to make your own money without having to travel into the city to work in an office or shop.

The good news is that the internet has made it easier than ever to set up your own business and attract clients regardless of where you live.

Below are some of the best freelance jobs you can do to start generating your own income

1. Teach a skill

If you have a skill that you’re proficient enough to teach then this can be an excellent way to get started as a freelancer. One of the most in-demand skills that people want to learn and are prepared to pay for is learning a musical instrument, such as the guitar or piano. If you are skilled at either of these or another popular instrument then you could easily start making money by teaching.

2. Buy and sell products online

Buying and selling online is a very easy thing to do in principle. You simply have to source products that people want at a price that you can make a decent profit on. The trick to success with buying and selling online is to find a niche that isn’t too saturate. Things like phone accessories, electronics and clothes are all very hard niches to have success since they’re so competitive so you should ideally sell items that are more obscure yet still in demand.

If you do sell products from home, it’s a good idea to make your home as private as possible, particularly if you’re selling expensive goods. Blinds for bifold doors provide privacy and are a very affordable solution that also add value to your home.

3. Set up a freelance motor trade business

Although there are some jobs in the motor trade that require you to have your own premises and staff and need a good amount of start up investment; there are others you can do with very little start up cash. For example if you want to work as a mobile mechanic then all you need is a mobile mechanic insurance policy and a van/tools.

4. Become a graphic/web designer

Working as a freelance web or graphic designer is another great way you can make money from home. Of course you need to learn the skill first but there are now an abundance of great resources online to learn the fundamentals.

5. Become a freelance writer

If you have a good command of English and the ability to write well then you might also consider becoming a freelance writer. Success in this field will depend on your ability to find a profitable niche to write about.

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If you have a speeding conviction, there’s no doubt that getting car insurance at an affordable rate can be tricky. Insurance providers consider those with convictions to be higher risk and will price their policies accordingly.

Types of speeding convictions

There are a few different types of speeding convictions, each with their own unique identifying code. For example speeding on the motorway is classified as an SP50 conviction. If you were caught speeding on the motorway, then you’ll need to seek out SP50 conviction insurance.

Other types of speeding convictions include –

• SP10 – Exceeding the speed limit in a goods vehicle
• SP20 – Exceeding speed limit for the type of vehicle you were driving (not including goods or passenger vehicles)
• SP30 – Exceeding the statutory speed limit on a public road
• SP40 – Exceeding the speed limit in a passenger vehicle

All of these convictions will mean you’ll get at least 3 points on your licence as well as a possible fine and driving ban, depending on the severity.

Where to find cover

Although a lot of insurance providers may offer you cover if you have a speeding conviction, a lot of them will simply not be affordable. Thankfully, there are specialist providers of car insurance for convicted drivers who can offer you cover at a reasonable rate.

What you can expect to pay will depend on the severity of your conviction amongst other factors. Some of the other things that will affect what you pay include –

• Your age – Age is always a big factor that insurance providers take into account. Those under the age of 25 will typically pay a lot more for cover since they’re considered a high risk group. If you’re under 25 and have a conviction, then it could be tricky to get cover at an affordable price.
• The value of your car – The value of your car is of course going to be something that insurance providers consider too. How much this affects the cost of your policy will depend on the level of cover you get. If you want to keep the cost down, then it’s a good idea to consider a third party policy, rather than comprehensive.
• How secure it is – Insurance providers will certainly consider how likely your car is to be stolen based on a few different factors, the main ones being what security features it has (alarm, immobiliser etc.) as well as where it’s parked when not in use.

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How much does minibus insurance cost?

The cost of minibus insurance will depend on a few key factors. These include –

• Your age – Age is always a factor when it comes to vehicle insurance of any kind. Younger people in the 18-24 age range will always pay more for insurance since they’re considered a high risk group who are more likely to be involved in accidents.
• The size of your minibus – The size of your minibus is another thing that will have an impact on price. The larger the minibus, the more you can expect to pay.
• The value of your minibus – The value of the minibus you’re insuring will certainly affect what you pay for insurance, so it’s worth considering this when purchasing one.
• Where you park it – Vehicles parked on a drive or in a garage are much more secure than those parked on the street and so they’ll cost less to insure.

What types of cover can you get?

You can get the usual types of road risks cover with minibus insurance i.e. third party; third party, fire and theft; and fully comprehensive. You might also need to get additional types of cover depending on what you’re using your minibus for.

For example if you’re driving a charity minibus then you’ll need to get additional cover compared to somebody who uses their minibus solely for pleasure. Try Clean Green Compare for charity minibus insurance.

Where is the best place to find minibus insurance?

There are plenty of minibus insurance experts online who offer cover at a reasonable price. The best way to go about getting minibus insurance quotes is to use an insurance comparison service that allows you to compare quotes from many different providers.

How can I save money on minibus insurance?

Below are some great ways to save money on minibus insurance –

• Pay for your policy annually – If you can afford to pay for your policy annually rather than monthly then this is a great way to lower the overall cost. Always be sure to negotiate the best price you can when you pay like this.
• Park securely – Parking your vehicle securely on a driveway or locked garage is another way to lower the cost of minibus insurance significantly.
• Shop around – It’s always essential to shop around when you’re looking to save money on minibus cover since the prices you’re quoted can very a lot from one insurance provider to the next.