Can anybody please explain how trade insurance works ?

I've got a couple of cars at the moment what i'll be selling on and maybe carrying this on. I no that would class me as a trader i think ?

How would i fair with my scoob, can you just drive it round because you have trade or do you have to tell the insurers ?

Info much appreciated

John

To the best of my knowledge as a trade policyholder, you are fully insured to drive vehicles as part of your business (garage, car sales, valeter etc)

Furthermore, you are covered ona vehicle that you actually own, usually with an upper price limit or certain marque exclusion.

I know of a few trade policies which specifically exclude Cosworths. (not that you'd want one of these anyway! ;:)

I personally only know one person that has ever had one.

As far as I can remember from about three years ago..
Max limit per car £20000
Any car, any driver with a valid licence.
?excess
Policy cost £7000 (ouch!)

Cheers for the info guys.

I may have a cosworth next week though so will have to do some further investigation.

Cheers

John