How much motor trader insurance?
Discussion
Give Giles Insurance Brokers a call, they sorted me out with a great NIG Motor Trade policy.
Tel: 01582 542 330
Theres two of us on the policy, fully comp on any car up to an agreed value. It covers our own private cars plus all the stock and our premises which holds about 10 cars.
It costs around £1300 per year, and includes demonstration cover and casual drivers with our permission.
I've had various policies over the years, but this deal is by far the best and most practical, with first class support from Giles as and when required.
Tel: 01582 542 330
Theres two of us on the policy, fully comp on any car up to an agreed value. It covers our own private cars plus all the stock and our premises which holds about 10 cars.
It costs around £1300 per year, and includes demonstration cover and casual drivers with our permission.
I've had various policies over the years, but this deal is by far the best and most practical, with first class support from Giles as and when required.
Yes, most policies will cover your private car once they have its details. However, if you are not actively trading, there's a get out clause for them to prevent private drivers taking a trade policy as a cheaper option to a private policy.
I still have a seperate specialist classic car policy for piece of mind with my 'toy', although I could still drive it on my trade policy if need be. Once you have proof of a period of trading, and have the required insurance in place, you can then apply to the DVLA for a set of trade plates which are a must for trade work.
I still have a seperate specialist classic car policy for piece of mind with my 'toy', although I could still drive it on my trade policy if need be. Once you have proof of a period of trading, and have the required insurance in place, you can then apply to the DVLA for a set of trade plates which are a must for trade work.
Sifly said:
... fully comp on any car up to an agreed value. It covers our own private cars plus all the stock and our premises which holds about 10 cars.
It costs around £1300 per year, and includes demonstration cover and casual drivers with our permission....
I think this may be a barrier to most people getting a traders policy. Its rare (but not impossible) to be able to get a traders policy without premises. Also, if you do manage to find a company willing to offer cover, make sure you're happy with how they will value your vehicles in the event of a claim.It costs around £1300 per year, and includes demonstration cover and casual drivers with our permission....
Toaster Pilot said:
Bollington just quoted me reasonably , capped to insurance group 31 because I'm 23.
They did say they'd need evidence of trading at least six cars a year at renewal or in the event of a claim.
Try Tradewise through TradePlan. No-one else could come close for me, especially at renewal time.They did say they'd need evidence of trading at least six cars a year at renewal or in the event of a claim.
Edited by Toaster Pilot on Tuesday 15th April 21:03
andymc said:
you also need to be trading, they can ask for proof of trade
I would guess this would be the problem for most people.I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Snowboy said:
I would guess this would be the problem for most people.
I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
It's actually not a problem at all. Plenty of people doing valeting and such like from home that have trader insurance to move customer vehicles or for general cover in case someone ploughs into them whilst in your possession. I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
TheAngryDog said:
I had a traders policy, it didn't cover me to drive other peoples cars third party like normal insurance policies. Would be wise to check this as well before taking a policy, if you need to drive other peoples cars such as friends or families
No but you'd be covered on your trade policy to drive themSnowboy said:
I would guess this would be the problem for most people.
I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Well, you have to be a genuine trade user. I get asked for receipts etc to be sent in as proofI also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
t400ble said:
Snowboy said:
I would guess this would be the problem for most people.
I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Well, you have to be a genuine trade user. I get asked for receipts etc to be sent in as proofI also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
I thought a trader doesn't need to register the vehicles on the registration docs, so how does one prove that they have traded these cars?
ATM said:
t400ble said:
Snowboy said:
I would guess this would be the problem for most people.
I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Well, you have to be a genuine trade user. I get asked for receipts etc to be sent in as proofI also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
I thought a trader doesn't need to register the vehicles on the registration docs, so how does one prove that they have traded these cars?
Snowboy said:
I would guess this would be the problem for most people.
I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Most small trader's turnover isn't enough to be VAT registered.I also wonder if there might be some link to the inland revenue to check if the trader is registered.
Perhaps something like a vat reg number.
If you're not a trader I think it a potential minefield.
Think the threshold is £50k per annum.
But as you said they will want proof of trading especially if you make a claim.
Gassing Station | General Gassing | Top of Page | What's New | My Stuff