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[zirk]

Its coming to that time of year again where the Insurance is up for renewal, so thinking about going done the Trade route this year.

I normally have no more than 3 Cars to insure, so over the years have kept them with Swiftcover.com at around 150 per car on mirrored policies (Full Comm plus Business cover, NCB Protected and Accident (Injury) cover). However this year ther creeping up to just over £200 per vehicle, so thats well over £600 per year now, still cheaper than other searches.

Just had some quotes for Traders Policy as a Part Time Trader, one of the better ones came out at £689, the cover is Full Com for up to 10 Cars, things like Cossies and Imprezas get reduced to Third Party, £5000 max per claim, over night on street parking, including any Cars that I own or not, or £747 if I want to include and add on my own Full Time Business cover (Radio Comms) on any of the Cars.

Bit more money I know but not too much when I consider the added benefits.

Some advise on this would help me decide, does the above quote sound about right, too low or high, any Trade Co's I should be contacting?, any pitfalls on Trade Insurance that I should know about?

Thanks Chris.   

[Dishevelled Den]

Will you actually be a part-time trader Z?

[zirk]

Will you actually be a part-time trader Z?

Have been on and off over the years. till I get bored with it then leave it alone for a while. Also need to get my Cosworth back on the this year, hate to think what thats gonna cost me on Private Ins, forgot about that.

[Dishevelled Den]

Will you actually be a part-time trader Z?

Have been on and off over the years. till I get bored with it then leave it alone for a while. Also need to get my Cosworth back on the this year, hate to think what thats gonna cost me on Private Ins, forgot about that.

Thanks Z, was thinking from the angle of there being a stipulation in the policy confining its use to the purpose of trading only and how that may restrict the use of the same fleet of vehicles for what may be considered to be normal day to day activity.

[zirk]

Thanks Z, was thinking from the angle of there being a stipulation in the policy confining its use to the purpose of trading only and how that may restrict the use of the same fleet of vehicles for what may be considered to be normal day to day activity.

Not sure about that one, did make it very clear that the Motor Trade thing would be part time with the Broker on the phone and that the additional cost to add my own business was my full time occupation which was nothing to do with the Motor Trade, I shall wait for the email to arrive and read the small print.

[joshwyatt]

Its coming to that time of year again where the Insurance is up for renewal, so thinking about going done the Trade route this year.

I normally have no more than 3 Cars to insure, so over the years have kept them with Swiftcover.com at around 150 per car on mirrored policies (Full Comm plus Business cover, NCB Protected and Accident (Injury) cover). However this year ther creeping up to just over £200 per vehicle, so thats well over £600 per year now, still cheaper than other searches.

Just had some quotes for Traders Policy as a Part Time Trader, one of the better ones came out at £689, the cover is Full Com for up to 10 Cars, things like Cossies and Imprezas get reduced to Third Party, £5000 max per claim, over night on street parking, including any Cars that I own or not, or £747 if I want to include and add on my own Full Time Business cover (Radio Comms) on any of the Cars.

Bit more money I know but not too much when I consider the added benefits.

Some advise on this would help me decide, does the above quote sound about right, too low or high, any Trade Co's I should be contacting?, any pitfalls on Trade Insurance that I should know about?

Thanks Chris.   

I'm with Tradex, been great for me, I don't have a single complaint about them. I can have as many vehicles as I need, and I've got a £100,000 max value limit. It costs me £6071 for the year. Trade insurance per se might not be the best thing for you, Tradex do 'home fleet' where you can have a few vehicles on a policy. May work out better for you. It all depends, on how serious you are? Do you have trade plates?

[tidla]

tradex are good. they will send you a two page form of which details of turnover, repair percentage, type of vehicle thru your door percentage ect..

£6000 thou!!

[zirk]

I'm with Tradex, been great for me, I don't have a single complaint about them. I can have as many vehicles as I need, and I've got a £100,000 max value limit. It costs me £6071 for the year. Trade insurance per se might not be the best thing for you, Tradex do 'home fleet' where you can have a few vehicles on a policy. May work out better for you. It all depends, on how serious you are? Do you have trade plates?

Thanks Josh for the info, really been part time trader for a while now, changes in this recession on my own trade (Radio and Telecoms Engineer, typical dying trade now) have made me think about doing the Car Trade thing a bit more seriously now, No, no Trade Plates but thats one of the things on the wish list in the future.

 

[zirk]

tradex are good. they will send you a two page form of which details of turnover, repair percentage, type of vehicle thru your door percentage ect..

£6000 thou!!

Thanks Tapper.

 

[tidla]

what do trade plates do then?

[joshwyatt]

Trade plates are a concession given to motor traders to allow them to drive untaxed and or unregistered vehicles.
Mine have also been added to the MID tied in with my trade insurance. One common fallacy is they cover insurance, they don't. However, you can add them to your trade policy, which I have done. Now, any vehicle I drive displaying my trade plates will appear insured, rather than the police always having to check.

[tidla]

Trade plates are a concession given to motor traders to allow them to drive untaxed and or unregistered vehicles.Mine have also been added to the MID tied in with my trade insurance. One common fallacy is they cover insurance, they don't. However, you can add them to your trade policy, which I have done. Now, any vehicle I drive displaying my trade plates will appear insured, rather than the police always having to check.

zirk is probably does not need the expense of these at his point in the business?

[Mr Skrunts]

tradex are good. they will send you a two page form of which details of turnover, repair percentage, type of vehicle thru your door percentage ect..

£6000 thou!!

He's only a baby at the age of 20, just started shaving. 

[r1]

just be carefull
i had a part time traders policy with the same company for three years,then i had a accident.moterbike tried to overtake me when i was turning right result one write off bike,[six monthes old]one broken leg/collar bone and a dented door.
claim value was about 20k.
all of a sudden they wanted records,number of cars id bought and sold,dates of purchase dates of sale.how much id bought them for and how much id sold them for etc etc.
i provided all this and they still wasnt happy they even tried to get me to sign a form saying that i was responsable,and they wernt going to act for me.
luckly for me i had kept my union membership and there legal department got onto them.
in the end i got a 50 /50 decision[even though the bikes speedo was stuck at 96 mph]and they refused to insure me again when my renewal came up.
so just be careful as you dont know how good a insurance is until you need it.

[Dishevelled Den]

just be carefull
i had a part time traders policy with the same company for three years,then i had a accident.moterbike tried to overtake me when i was turning right result one write off bike,[six monthes old]one broken leg/collar bone and a dented door.
claim value was about 20k.
all of a sudden they wanted records,number of cars id bought and sold,dates of purchase dates of sale.how much id bought them for and how much id sold them for etc etc.
i provided all this and they still wasnt happy they even tried to get me to sign a form saying that i was responsable,and they wernt going to act for me.
luckly for me i had kept my union membership and there legal department got onto them.
in the end i got a 50 /50 decision[even though the bikes speedo was stuck at 96 mph]and they refused to insure me again when my renewal came up.
so just be careful as you dont know how good a insurance is until you need it.

so just be careful as you dont know how good a insurance is until you need it

A simple but nevertheless incontrovertible truth R.