Motor Trader Insurance eh?

[slater]

Ive allways assumed i was way to young to get a motor trader policy but

A. I'm getting older

and

B. ive heard of several guys younger than me getting them!

Who here has one? who with? how much? terms? I'm not sure where to start investinging! I remember my dad looking into it but it didnt relly work at the time as he was driving trucks and stuff aswell and they were also a bit arsey about having more then one person on each policy.

i now its been asked before but you know how it is!

[Lankytim]

My mate had a traders policy, cost a few thousand each year and some cars were specified as not covered. Cossies, ferraris e.t.c

[rustingdeathtrap]

I had to be over 25 to take mine out and cant have anyone under 21 on it.
Mine is about £700 a year with no value limit but doesnt cover modifieds. From what i can gather to get a traders that covers modified cars you'll pay through the nose.
TBh unless your doing loads of private work or buying and selling they're not really worth the money because of the restrictions to what you can and cant drive.

[akku]

I have had insurance as a trader through Peter Norton (now called Norton Insurance Brokers) and Footman James. I did use someone else, might have been Tradex in the dim and distant past.


They will ask you if you are

a) a trader (buying and selling)

or

b) repairs (ie usually driving other peolpe's cars)

Both type of policy will allow you to do both, say " a bit of both" it doesn;t add anythign to the premium and then you're covered for anything.

Some trade insurance does not cover modified cars or grey imports so check with them, no point in takig out the policy if it doesn;t coevr you.

Mine have all covered me for everything LHD, HGV, bikes, modified, kit cars, grey imports....

You have to have "from home cover" as an extra or you are not insured to have the car(s) at home. Put mine up by like £30 so not much.

Minimum cover is usually £10K worth of "stock".

If you say you are a trader they will ask for proof of trading (ie buying and selling) but I had no bother with that as I was geting through cars quick enough! Some will specifiy you need to buy/sell 6 a year minimum. Always worth checking - you can always eBay in and out some tat to make numbers if necessary toward the end of the year....

[scaryoldcortina]

I have cover with tradex as a repairer/modifier/trader including recovery and modified cars. The only restrictions they insisted on were

no drivers under 25
No Vehicles over 3.5T GVW, no recovery carrying more than two vehicles
No Motorcycles
No Steam driven
American and kitcars limited to third party only cover.

I even have internet access to the Motor Insurer's database to add/delete vehicles from cover. Cost? Less than you'd expect

[akku]

all of mine was TPF&T. Fully comp would have broken my ass.

[beany]

i've had mine since i was 24! i had my own garage at the time which helped tpf&t then was about £1500 with no restristions but fire and theft value of only £5000!
gave up the garage after a year but have kept it running from my home address and now i'm 26 its just under £700 a year!
that's with tradewise through AK insurance brokers!

[coxy]

I got one, covers me to drive any car up to £125k in value plus a few bits on top of that!

costs the best part of £18k a year though!!

[CR500Dom]

I`ve had one for about the last 10 years, let it lapse this year for the time being as it would`t cover Bikes for personal use and any bike I owned had to have its own policy

My Van (03 Trafic) was too valuable to have on 3rd party only

Janes cars were insured seperately too with me as named driver and teh Kadett was off the road ?

I only ever had TPF&T, up to vehicle value of £7.5K but it would not cover me at the Registered address for theft, would cover work and trading, wouldnt cover Cossies, would cover modifieds and bikes that didnt belong to me....

I miss it sometimes - Taxing vehicles mainly ;D and I have to think before jumping in and driving something now ie am I covered and on what policy ? (mainly an issue on bikes)

I need to have another look at it as between Jane and I we have 7 vehicles, I`m sure I could get a company policy to cover the lot fully comp with both of us driving for a lot less than insuring them all seperately........ and its then a company expense too ;D

My Policy before was through MMA and was about £600 if thats any help ?
Cheers
Dom

[IDY]

There is always the option of multi-vehicle policies - For example Footman James does a classic car policy with that option (min of 3 cars, majority must be classic), no idea how competitive it is but a friend with a 30 car fleet rated them

[bazzateer]

I've got 3 classics with FJ, all fully comp and Euro breakdown cover included on unlimited mileage, the 2 Imps and the Singer Vogue - £142 all in. Cars have to be over 30 yrs old for unlimited otherwise you get a limit of just 6K miles total for all the cars, not each car, all of them!

[slater]

I have 2 policys at the moment which cost over 1200quid alone but i have 3 or 4 roadworthy cars of my own, then my dads cars, then loads of old tat stashed away. I would happly pay over the odds if i could drive all of them and whatever else when i liked..!

It would obviously need to cover modified cars, and TPFT would be adiquate but I'm still only 21 so might not get one quite yet!

[akku]

I'm with Footman James on a multi-classic policy. I have 4 cars insured for < £200 fully comp, agreed value, parts insured off the car, right of salvage, European green card, and some sort of breakdown insurance (but I get free AA through my bank so I've never used it)

Brillinat if the car is over 20 years old (or it may be 25?) but when I wanted to add the Mazda (1992 reg'd) the policy would have gone up by £300 whereas we insured it separately for like £190 in my wife's name.

[incarsolutions]

our policy covers customers cars up to 25k per car and will pay out at market rate, our own up to 5K trade value. Covers modified, imports and the like as long as we don't specialise in them. No upper limit on claims either, so if we have a fire that takes out 10 customers car at 25k a piece, it will pay out 250k! Got, a few customers with higher value cars, and we normally get them covered with just a quick call, foc. Its not cheap £1750, but has to be done and it is good to know we can jump in anything and drive it.