22 years old - new business - liability/trade insurance

[mash.]

Hi guys

I'm setting up a part time motorsport preparation/alignment/cornerweighting business.

I was just wondering if there are any guys on here similar age that have problems with companies not insuring me due to my age (22), and if they have any advice on where to look for this type of coverage.

I'm ideally looking at one policy to cover it all, so my P liability and covers vehicles also (to drive customers + personal car) but maybe I should look at separate policies?

Many thanks

Edited by mash. on Friday 18th August 11:52

[insurance_jon]

what's your age?

[mash.]

insurance_jon said:

what's your age?

Damn, knew I forgot something

22 and 3/4 years old

[mash.]

Lol just looked, I didn't forget - it was in the title!

[spikeyhead]

Tradex

[mash.]

spikeyhead said:

Tradex

Just requested a call back for Monday, fingers crossed.

[insurance_jon]

Trade. Is pretty much your only market unless bollimgtoms can help

[anonymous-user]

Tradex.
And I would think it will quite expensive.

[Steve H]

desolate said:

And I would think it will quite expensive.

This. Looking at your expected turnover on another thread they may not take you seriously as a genuine business but if they do you are ticking a couple of the high risk boxes for insurance - young driver and modified cars.

I would guess that you would be looking at at least 20% of your predicted turnover to get any decent cover.

[anonymous-user]

Steve H said:

This. Looking at your expected turnover on another thread they may not take you seriously as a genuine business but if they do you are ticking a couple of the high risk boxes for insurance - young driver and modified cars.

I would guess that you would be looking at at least 20% of your predicted turnover to get any decent cover.

And there is no VAT to claim back on Insurance premiums either!

[mash.]

Thought I would update just in case there's anyone else young, getting mad quotes and not being able to continue with an idea they had.

Try Jelf Motorsport insurance.

They have quoted me sub £1300, for £10mil public liability, unit contents cover - vehicles, tools, standard trade - drive any car, give permission for someone to drive your car insured etc, customer car cover up to £50,000 (can be raised)

I am pretty happy with this after originally getting quoted £4000-8000 quite consistently.

[anonymous-user]

mash. said:

Thought I would update just in case there's anyone else young, getting mad quotes and not being able to continue with an idea they had.

Try Jelf Motorsport insurance.

They have quoted me sub £1300, for £10mil public liability, unit contents cover - vehicles, tools, standard trade - drive any car, give permission for someone to drive your car insured etc, customer car cover up to £50,000 (can be raised)

I am pretty happy with this after originally getting quoted £4000-8000 quite consistently.

Thanks for taking the trouble to round the thread off.

When you get your documents can you let us know which Insurance Company it is?

Looks like a cracking deal.

[mash.]

I went through jelf motorsport insurance first, but I believe its underwritten by Reis motorsport insurance.

[anonymous-user]

mash. said:

I went through jelf motorsport insurance first, but I believe its underwritten by Reis motorsport insurance.

Reis are a broker, not an insurer.

jelf are part of a multi-national broker now so it will be a major insurer backing it.

[mash.]

desolate said:

Reis are a broker, not an insurer.

jelf are part of a multi-national broker now so it will be a major insurer backing it.

Yeah if I'm honest, I'm totally lost when it comes to who's who and whos doing what.

sorry

[Jack-smith1738]

Hi dude thanks for all the helpful info.

I just wanted to know how much driving experience and NBC you had when you were trying to get a quote for this policy?

Do you have an insurance group limit or engine limit?

Also is it for your own unit or work from home?

Thanks

Edited by Jack-smith1738 on Friday 2nd March 08:01

Edited by Jack-smith1738 on Friday 2nd March 08:02

[mash.]

Jack-smith1738 said:

Hi dude thanks for all the helpful info.

I just wanted to know how much driving experience and NBC you had when you were trying to get a quote for this policy?

Do you have an insurance group limit or engine limit?

Also is it for your own unit or work from home?

Thanks

Edited by Jack-smith1738 on Friday 2nd March 08:01

Edited by Jack-smith1738 on Friday 2nd March 08:02

Hi chap,

4 years at the time of the policy start sep/2017 - nope no limits on engine and group, and it's for the premises I rent