I've decided to take the plunge and finally get a traders policy so I can become a part time motor trader alongside my full time employment.

This evening I got a quote from Tradeplaninsurance.co.uk who gave their best quote of £1095 which consists of the following:

Fully comp on all cars with no limit on number of vehicles, £500 excess, SD&P use, no drivers under 25, Demonstration use, high performance and prestige cars allowed but no modified or imports, no motorbikes.

The policy will cover me for sales and also servicing and repairs on any customers vehicles if I choose to do that aswell.

The policy is with Tradewise.

I'm 33 with 12 years NCB.

If anyone in the trade can give me an idea if that's a reasonable quote that would be great. It's pretty much what I was expecting but I'd like to hear other peoples opinions.

 

I was paying that 4 years ago on my policy with Roadrunner. I was 27 and had 6 years NCB. I had a £900 excess, I didnt have demonstration use(as a breaker i didnt need it) and I was allowed high performance and imports. There was a small list of cars I was only covered third party on like Lambos and Cossies which I wasnt going to be driving anyway.

Given the 60% increase that the media claims insurance has risen by, Id say that quote is ok

Are you keeping your private car insurance? Only reason I ask is because I lost 6 years worth of private NCB. After 3 years I cancelled my traders policy only to find that private insurance companies, or certainly Admiral, do not recognise trader policy NCB and your private NCB expires after 3 years!!!!!!!!!!!
I was left with zero NCB at 30 years old and Im currently paying £1079 for a years fully comp insurance on a 2001 WRX!

 

The situation with the NCB does worry me. It's not worth me keeping my private car insurance and paying the trade policy aswell but I have 12 years NCB currently protected with Admiral

If I end up cancelling the trade policy in the future, is there any companies that accept the trade NCB or not ? 12 years is a lot to lose !

 

I'm with Tradewise and I currently pay slightly less than that, I'm 30 with full no claims, I used my private car no claims on the policy and if I left them ( which I did for a year whilst not trading due to house renovations ) I was able to use the no claims on a private car again, they are now currently back on my traders.

I also have a jdm import which is covered on the policy for sdp so it is possible, I am also covered for high performance and valued cars as my parents have xfr and an xkr jag which I use which I'm covered fully comp on as I take it for servicing, mot's etc, I do alot with trade mot's for a friend and buy and sell some smaller cars as they tend to sell easier rather than high performance stuff, its easier as you don't have to keep listing vehicles over and over as they are normally lined up for a sale or they will sell within a few days so never hit the 28 day period, also with Tradewise you can add and remove cars on the MID online which is a handy feature.

 

Its deffo worth looking into mate as you can imagine how I felt last year, Id just bought my current Subaru, the seller had been saying "Have you checked you can get a decent insurance quote?", I was like "Yeah, no worries, Ive got 9 years combined NCB, and Ive had 2 Imprezas before this one" yak yak yak.........
Bought the car, got 7 days free insurance, went to insure it on day 4...................GULP!
Even at 30 years old Admiral was the only company who would touch me on an Impreza with zero NCB. About 3 days of calls turned up nothing so I just had to accept it an move on

If you do find a company who will honor your private NCB get it in writting mate


Yeah, its a really handy feature with the traders policies. With Roadrunner I just had to text the reg number and it was added to the MID database within an hour.

 

Hi YoungY25,

Sorry to see you're having difficulties, but I had noticed your post and may be able to get your NCB back on track for you.

We would need to prove your performance car experience (but if you've text/advised your trade Insurer of the personal/private cars that you've driven this will help with this) and we have Underwriters who will entertain commercial NCB.

In addition to this, if you still have (or can request) proof of your private car NCB before the trade policy we may be also able to do something with this through referral to Underwriters.

We'd be happy to take a look at this for you and can run this in theory without impacting your other policy, then if we're successful in getting your record restored and your premium nearer the £700-800's you could make a judgement as to whether to cancel the Admiral policy and move over.

If you'd like us to look at this just PM me your contact details and we'll call to run through this with you

Kind regards

Tony

 

Shop around, many companies (not found on price comparison sites) can use trader NCB.

Feel free to get in touch when you are up for your insurance renewal.

Thanks

Ollie
Sky Insurance

Tel: 01707 642552

http://www.skyinsurance.co.uk/car-club-insurance.html

 

Thanks guys, ill be in touch