Trade insurance

[Tony M]

Does anybody know any pro's and con's of being on trade insurance?

[L33 LEG]

Pretty much drive what you want. There is no cons lol

[skyinsurance]

There are a hell of a lot of cons!!

eg, you must be a genuine trader, some engine CC restrictions for certain ages, high excesses, book value only for car, mods not covered etc etc

[Jack]

http://www.stuallan.com/Terry%20Tibbs.jpg

talk to me lol

[Ben]

This has been gone over time and time again in the insurance section.

Pro's can drive most cars on the road

Con's if car gets damaged you get trade money for it NOT retail money

A lot of trade insurers want to see proper tax returns or books to prove your trade.

You will get pulled over on a very regular basis as most of the times the cars arent on MID.

TBH unless you are a trader i wouldnt bother its not all its cracked up to be, i had trade policy for years when i was in the trade but very happy not to have one now.

[novaguy08]

Sorry to hijack,

Is there a registration you need to do with the DVLA to become a motor trader?

[Ben]

no just depends if you want trade plates, if you do you just get some by filling in a form and proving motor trade again.

[Prey]

Have heard before that some companies dont actually require proof until you claim - then they ask and if you havent got it youre screwed - this true?

[let_nova]

i enquired a week or so ago about it, told then what cars i owned and what i was likely to be fixing/working on including some modified. they said i would be covered upto 18k on customers cars etc.

premium was 689 for the year.

[Shaun]

not bad that

[Ben]

Some dont require any proof at all but some do, i was with mma when bloke pulled into side of me on roundabout and then they wanted proof. But others have never asked for anything.

I would say there ok for covering your ass in the eyes of the law but i CERTAINLY would not put my pride and joy onto a trade policy.

[L33 LEG]

Im with mma but they didnt ask for any proof at all. I told them i just sold a few cars a year in my spare time and they are fine with that.

However, i never expect to claim really as my cars tend to be worth more in parts tbh. I hopefully only need insurance just to shut the police up.

[Ben]

As said they were fine until i claimed (and what a great claim it was too lol)

Bloke as said pulled out into my path on roundabout, it got nasty and took months to settle so i agreed with insurance to get car fixed at my cost and if was settled in my favour they would cover the costs, assesor agreed to £2.5k of damage and i found a set of doors in colour for £80 so got £2250 in cash and to keep the vec.

Oh yeah car got hit on the way back from buying it for £1500 lol

[dj_wudgey]

my mate had his car nicked and beacause it was out side his house he couldnt claim a penny! his problem was it wasnt really a works vehicle or on the works property so the insurance wouldnt do sh*t!

[L33 LEG]

I suppose it all depends on the company. I have a chapatti mate who is on trade and he writes off cars all the time and gets paid out no problem.