How much does breakdown and recovery operator insurance cost?
Finding out how much recovery van operator insurance costs isn’t easy. That’s due to the individual factors considered when calculating your premium, such as trade activity, business size, and condition of vehicles.
The factors that will typically impact your insurance pricing structure are:
- Business type and size.
- The location of your business premises or where you operate.
- The number of recovery vehicles you wish to insure.
- The condition, value, and type of recovery vehicles.
- Your employees and number of drivers.
- Value of tools, equipment, and other material.
How to reduce the cost of recovery truck insurance
We appreciate the value of keeping costs down when running a business, as you’ll want to maximise profits and drive growth. But it’s important to understand that even while insurance policies come with premiums, they can be highly cost-effective in the event of a claim.
To reduce the cost of your breakdown operator insurance, consider the following measures:
- Installing telematics
Installing a telematics box, or ‘black box,’ will reduce your premium. This technology allows insurers to see how your drivers act on the road. Also, a black box can help make a vehicle safer in the event of theft as it tracks the location.
- Utilising no claims bonus
In some cases, you can transfer a personal no claims bonus to your motor trade insurance policy. Therefore, it’s worth informing your insurer if you have a good driving record with a strong no claims bonus.
Who is eligible for recovery operator insurance?
If you operate a motor trade business, assisting with breakdowns or recovery of vehicles, you are eligible for recovery operator insurance. However, you’ll need to meet specific age criteria because many policies are only offered to those over 25. Young traders may require a specialist policy, such as young motor traders’ insurance.
You’ll also need to show a clean driving record and no criminal history to take out recovery operator insurance. Some insurers may accommodate minor driving offences, but this will be case-by-case.
Why choose Gallagher for your recovery insurance?
Your business is your livelihood, so it’s essential to protect it.
At Gallagher, we are insurance specialists who understand the value of suitable cover for your business. We support you throughout the entire process: from getting to know your motor trade business and activities to arranging a tailored insurance package.