Ok does someone wanna throw some light on to this for me???

How do they work?Can ANYONE just sign up for 1??

And where from??

I work in the motortrade anyway,but have 3 cars,AND a bike to insure!!

Am i better off with a traders??

Pete...

 

We have one from http://www.unicominsurance.com/

Covers the cars ok but they dont cover bikes hence why i have a seperate policy.

If you have premises that will push the premium up

 

SO can joe public just ring up for a policy then??

You dont have to own a company or feck all to get 1???

Very confussed by it all tbh..

Pete.

 

i have a fleet policy which covers the two cossies vectra sri and the works van but that also states no bikes

 

ok,but my general question isnt gettin answerd??

Can Joe Public just have 1??

Pete..

 

mine tthrough plan insurance and covers me to drive anything up to 7.5 ton and i have my cossie on it and any bike ......i am a valeter so got traders in bussiness name

 

Added you to MSN Lawnsy....

Can i have a chat..

Pete...

 

yip

 

WELL GET ON MSN THEN!!!!!!!!!!!!!!!!!!!!!!

Ive added you mate....

Pete...

 

im on

 

lawnsy@hotmail.com

 

I had a traders policy, Had my now ex wife on it as a named driver, She reversed into a car in a car park, A claim went through and that, When it came to renewal time the price had gone up a stupid amount, It turned out that if you had any kind of accident no matter how big or small you lost ALL of your no claims, I never renewed and I would never have one again

 

Hmmmmmmmmmmmmmm another side to it all there...

Any one else whos had to claim had anything???

Pete...

 

ive had one and did not make a differance tbh and paid out 12,750 for me terrano....that one was through tradex

 

Pete

You may struggle as most insurance companies now will not give traders to anyone who does not have premmisses and is not registered as a company .

They have got wise to people getting a traders and running about 10 cars and 3 bikes on it

Also beware of those insurance companies in the auto traders etc offering cheap traders policies ,,they are road risk only , not worth the paper there written on if you ever have to claim .

My insurer comes round every year just before renewal and does a full risk assesment on my workshop etc , and asks details of all cars ( on the road ) i have to give reg numbers , list all name drivers etc , and also i have to update the MID insurers data base every time i get / buy another car

A lot of hassle ,BUT i am well covered .

BLOODY EXPENSIVE THO

If you need any help please fel free to call me

Paul

 

im with road runner now covers cars bikes yank cars ect
but as paul said i have to ring them every time i change cars for one reson or another

 

how much are we talking about here then?
as it is i pay out nearly £2k to insure all my motors (5 of them) so would i be better off with a traders policy?
or one of them "we'll give you extra off your premium when you insure a second car with us" normal insurance lot?

 

when i first started i used axia and it was 3500 for 3 me the wife and brother i had lia bilty and stuff hence so much

 

Agreed- I know Karlos has a similar thing and its F'in expensive- made worse by the fact its all modified vehicles.. but you gotta do it right...

Anyways...
I'll find out off my mate who he uses Pete...

He said " I just rand em up and told em I buy and sell a few cars and do em up a bit"

He has his missus and him on it and drives anything obviously.. covers his break down van and what ever bangers he's driving around...

Where ever I looked though I found the same story.. PM Tiff.. he used to have one too.

Jake

 

as paul says,its all changed now,you have to update the insurance data base as well,if you claim or the police decide to check your trader status and find you havnt sold the required amount or have no books,invoices or paperwork you will find your self in some serious shit,trader policies are for traders,we get charged enough as it is with out joe public thinking they can get one and run a fleet of cosworths on it,thats the reason our insurance is so high,

 

All the above is what you need to know really. A lot of the cheaper policys are very basic cover, and you won't get anymore than bottom value for claims. Mine is a bit weird, my policy covers cars but not bikes, and is fairly pricy as its specifies performance, modified and import cars. My premises I insure seperatly though, as part of a different policy with a diff company.

 

Correct of course. Its all a pain in teh arse now, and dont forget the MAIN tyhing that most of you lot forget...

1) Your insured for TRADE value on stock. NOT retail. (Look up the trade price of a cossie fellas )

2) A LOT of companies exclude Ford RS in teh small print. INCLUDING Tradex. DO NOT listen to teh broker, he usually knows fuck all. Check the large booklet yourself and you will find it. I missed it too, but thankfully Nicople saw it as she used to work as an insurance broker.

I now have it in writing i am covered and it EXTRA.

I pay £6000PA.

 

fair points, well made

i think i'll stick to normal insurance for the time being then

 

Stu

well spotted as you say if your a trader and get a escoss stolen you will be paid about 6k for a car worth about 16k as you get trade price on ANY claim

The insurance companies have all angles covered when you want a traders policy

 

all bunch tossers (the insurance companies)

 

i was thining about this, seem to go through cars pretty often and get offered cars that need a bit of work cheap and fix em and sell em for some bread money.
also get offered some private work on cars but cant do it or look silly asking them to bring the car to me.
would be handy to get one but still young so it'll cost a fortune and no premises or company

 

Me and Alex have trade insurance as we have 4 cars and they change all the time but we keep our own cars insured privatly for the gauanteed Value. Athought they do cover RS's as most don't but as Stu says you will pnly get trade value, hence us having out own cars insured. But I only pay £300 for mine with a garanteed value on a classic policy In the long run it definatly works out cheaper for us having traders than insuring every car we own.

I think these days tho they are very strict who they give trade insurance to! We have had it years just said we was part time trading from home. Pay £600 a year for it

 

and are you actually trading?ie with accounts and registerd with ir and companies house?

 

Sexy rs

Thats not a traders @£600 you have a road risk policy ,, you cant have a traders policy without premisses

You wont get a traders for less than 3k i would say

Road risk policys are oftern nixed up with traders policies

 

and the reason its not less than 3k is fookers screwing the system costing us legitamate traders money!!!

 

Is it?

Thats weird as it says on the insurance certificate - Motor Trade, social domestic and pleasure - Third party Fire and Theft (as thats all we wanted) Indemnity level £10,000. Yes you pay extra ££££££'s if you want workshop premises covered but we did not take that cover

Correct me if im wrong tho

 

so you have accounts and are registerd as a motor trader with the inland revenue then?
plus you have to be VAT register if you turn over more than £58k a year,so are/ do you?

 

So its a road risk then ,,,,,

If you dont have premisses ITS A ROAD RISK

Hope you never have to make a claim because if you do the first thing your insurer will do is ask you to prove you are a real trader ie books etc and if you cant then your not insured ,,they never tell you this until a claim is placed

 

Who says you have to turn over 58k a year to have trade insurance and have to be a registered motor trader? They do trade insurance for part time trading from home, enthusiast, valeters all different types. We have to update them on cars brought and sold over the past year when you renew.

 

Sexy rs

Think about it ,,,,,,,,,,,,,,, How can you have trade insurance if your not trade ?????

You will find out if you ever need to claim ,,trust me i know people with these policies from back street insurance companies

 

Have made a claim yes and not had a problem, when we took it out we told them we was enthusiasts turning over quite a few cars a year as projects at home and they was fine- I had trade insurance before with my ex yonks ago with a differant company to in the same circumstances and he claimed on it with not a problem

 

read what i wrote!!!


hope to god you dont crash in to me as exactly as paul says,they take your money but then prove you arnt a legitamate motor trader when you need to claim and wont pay out,
we have been in the game 15 years so do know the scipt.

 

MKaybe it is road risks only but as long as we are covered tptf thats all we need it for as our own cars we keep for good have there own personal policys with garunteed values I didn't think Tradewise was a back street company but what would i know lol

 

We arnt having a go at you , just trying to help you with your insurance

As Tim says

Been there , done it and will never want to wear the T shirt again

Just read the small print and ask the correct questions as its oftern too late when you find out your insurance aint worth a shit .

Sorry but a road risk policy for £600 I wish i could get road risk cover for that money

 

have you made a claim recently though?get ready to have your fingers burrned,by the way if you were to get pulled at a combined checkpoint,ie vat,costoms,inland revenue,and police,dvla,they would all cross referance your status as a motor trader and you would be either liable for a huge vat/inland revenue bill or if dvla records showed not actually be insured,iam not getting at you but have seen this happen with local lads round here three times,one lad got investigated and was actually jailed for 6 months.another got a tax bill for 28k and as he had no books or proof to argue his case he had to go bankrupt,he was a ford enthusiast with a few projects on the go as well!!