Traders policys...
#1
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Traders policys...
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...
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...
#2
aka Turbosailorboy
iTrader: (5)
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
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
#3
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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.
You dont have to own a company or feck all to get 1???
Very confussed by it all tbh..
Pete.
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#12
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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
#13
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Hmmmmmmmmmmmmmm another side to it all there...
Any one else whos had to claim had anything???
Pete...
Any one else whos had to claim had anything???
Pete...
#15
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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
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
#17
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iTrader: (3)
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?
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?
#19
PassionFord Post Whore!!
Originally Posted by NORTH YORKS RS SPARES
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
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
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
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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,
#21
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Originally Posted by NORTH YORKS RS SPARES
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
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
#22
Originally Posted by NORTH YORKS RS SPARES
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
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
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.
#23
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iTrader: (3)
Originally Posted by TF Rallyesport
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,
i think i'll stick to normal insurance for the time being then
#26
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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
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
#27
PassionFord Post Whore!!
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
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
#31
PassionFord Post Whore!!
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
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
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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?
plus you have to be VAT register if you turn over more than £58k a year,so are/ do you?
#33
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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
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
#34
PassionFord Post Whore!!
Originally Posted by TF Rallyesport
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?
plus you have to be VAT register if you turn over more than £58k a year,so are/ do you?
#36
PassionFord Post Whore!!
Originally Posted by NORTH YORKS RS SPARES
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
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
#37
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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.
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.
#38
PassionFord Post Whore!!
Originally Posted by NORTH YORKS RS SPARES
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
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
#39
15K+ Super Poster!!
iTrader: (6)
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
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
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Originally Posted by Sexy-RS
Originally Posted by NORTH YORKS RS SPARES
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
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