5 Tips to Save Money on Your Recovery Insurance

You might be looking for a way to earn your living on a full-time basis or earn some extra cash in your spare time, but a vehicle recovery business may be worth considering.

It is unlikely to be so difficult to set up – the website eHow offered a number of suggestions in an article dated the 13th of May 2017 – but you need to be aware of the legislation which governs the recovery and towing of vehicles.

In any event, one of the critical things needed before launching your business is vehicle recovery insurance. As with any small business, it is crucial to manage your operating expenses, so here are five tips on saving money on the cost of that recovery insurance:

  1. Choose a specialist provider
  • here at RoadRunner Insurance, we are specialists in every type of insurance for the motor trade – and have particular expertise in arranging vehicle recovery insurance;
  • whether you are going to be recovering and towing other people’s vehicles as part of a full-time or part-time business, we are familiar with all the various risks you face and may equip you with the full range of safeguards you need;
  • our extensive knowledge of this niche of the insurance market means that any quotation we offer comes at some of the most competitive rates available;
  1. Save money on accidental damage insurance
  • probably one of the major risks to your business is the possibility of damage to a customer’s vehicle when you are in the process of recovering it – whilst it is still on the road, whilst you are loading it onto your recovery vehicle, or even when it is already onboard;
  • our competitively priced cover for vehicles in transit – including those being towed or onboard your recovery vehicle – may be incorporated into your vehicle recovery insurance;
  1. Save money on accidental damage cover for your recovery vehicle
  • the essential – and expensive – asset of your business is the recovery vehicle itself and the tools and equipment you use in your operations;
  • both the vehicle and your tools and equipment are at risk of theft, loss and accidental damage, all of which may be comprehensively covered by our competitively-priced vehicle recovery insurance policies;
  1. Save money on your liability insurance
  • no matter how careful you are when recovering a customer’s vehicle, there is always the risk of your client, a bystander or a member of the public being injured or having their property damaged;
  • if this happens, or you are alleged to have been responsible for the injury or damage, you may face potentially substantial claims for compensation;
  • affordable liability indemnity insurance stands to save you having to meet the cost of such claims – and of defending yourself against false claims – from your own pocket;
  1. Save money by protecting your no claims discount
  • vehicle recovery insurance attracts valuable no claims discounts – in exactly the same way as your regular motor insurance – for every year you are claims-free;
  • by paying a small supplement on your vehicle recovery insurance premiums, Roadrunner is able to protect that no claims discount – leaving you free to make any necessary claim without it detracting from your annual discount.

Looking to save money on your vehicle recovery insurance? Here at RoadRunner Insurance, we can help you to do just that. Call us on 03301 00 87 20 for a quote now.