Traders policy
 

Hi guys need some info on traders policy. The situation is a mate is planning on opening one and would add his son to the policy who is only 18. I know you can add SD&P for an additional fee which is what he is planning on.

Can someone forward on all pro's and con's and this is something we know nothing about and all Google really shows up is companies advertising insurance.

Cheers Adam

Is your mate a genuine trader, and does his son work with/for him.... or is he just after a cheap policy?

PM sent moley

Anyone delt with a traders policy?

Tradex will do it but your looking an additional £2000 on top of the older driver price easily and engine cc restriction to 1.4

Yep.....I'm one of the few that ran a bent one
Cost me £4k for the joys of it

If your not a genuine trader.......don't bother , first claim and they want tax returns etc etc not a set of dodgy books

Thanks to moley and some proper advice I run normal insurance :thumb:

^^^^^^ biggest knob head firm out there followed by tradewise :thumb:

So basicly ok unless you crash? Was it a Subaru you were insuring?

what did twi do to you then do tell

Avoid Tradex, and Tradewise.

As above, make sure it is a legitimate business otherwise it is worthless.

Bear in mind that whatever cars you intend on driving will only be insured for trade prices, so if it goes missing you will get bottom book price for it.

Oh, and any no claims you earn with a traders policy are not generally accepted outside of the trade, so if and when you go back to domestic insurance, any no claims will be worthless.

Ran tradex for 2 years until I bought a evo mr340....they wouldn't touch it , passed me onto tradewise , ran them for 2/3 years upping policy to £20k to cover my m3csl.....never asked for any kind of proof of trading ever (was down as p/t valeter)
Fooooked up in the wr1 , NEVER made a claim in my life , even before they would look at my car they wanted to see tax returns for proof of trading :rolleyes:

**** happens I paid for everything , job done , lesson learned :thumb:

Guess they are your insurers :thumb:
Have fun

Not always the case neil, moley mirrowed my ncb from said policy and used it on a fresh policy for a scoob :thumb:

Yep and me.......he's not a bad lad is he :thumb:

Like said if not a legit company dont bother mines with a plan but don't bother if being done just to get cheep insurance

Mucho respect to Moley :thumb:

The business will consist of car valeting, repairs, breakers, deliveries, sales ect and will be ran from a garage.

There will be a variety of different types of vehicles on the policy from vans to scoobys. Taxes will be payed.

Also if you buy a car do you notify the company so it wont come up as uninsured everytime the plod drives by?

cheers

Tradewise are sh1te, I'm stuck with them for another year though by the looks of it as they are alot cheaper than other quotes I have had, most others wont even cover me for half the stuff Tradewise will, tried Tradex and they wanted £700 more, if it gets any dearer I'll sell my van and tools and pack it in, as said though, if your just after a cheap policy and not a legit business then I wouldn't bother, if you hit someone they won't pay out leaving you proper in the deep end, I also got pulled once in a customers skyline, they wanted me to prove I was using it for trade purposes related to my business and phoned the customer, the Police and Insurers are pretty clued up on it all now and know the score.

What about adding social, domestic and pleasure to the policy?

If you want to drive Impreza's and the like you need to have High performance vehicles added to the policy which is more and imports obviously if any of them are imports, a normal policy doesn't cover you for these, I nearly got stung with that one, thought I was covered to drive anything and wasn't :freak3:, so far I have only found Tradewise and Tradex who cover both, Aviva covered High performance but had to get permission from them every time for any imported vehicle and could sometimes result in paying an extra premium or being refused.

Obviously being the policy holder I am covered for that, I did have an emplyee for a while who I let use the van and had s,d&p including trade for him, cost me about £300 extra, he was 30 years old though and as far as I'm aware it didn't cover him for any vehicles owned by him, He would of had to have his own policy for that.

no i just wondered what the outcome was for a non-trader when they had a claim

twi have the best product in the market for cover on high performance cars as long as you are genuine trader

I use Caleb Roberts Brokers and my policy is with AVIVA,we have 5 employee's along with social/pleasure combined for me/father/mother/brother and I pay around 2.8K for the policy
Oh and my subaru is on there with all mods declared which is quite a few.

So you can legally drive your subaru around even though its down as your own personal car?

:thumb: they covered my m3csl , 911, evo's , escort cossies....all the boys toys!
Even my missis was on it

**** only hit the fan when a roundabout and big....really big massive fooookin sign posts wouldn't give me the right of way :lol1:

The subaru is down on the personal/pleasure side but part of the policy:thumb:

glad your hooked up with moley he wears superman pants at work i reckon :thumb:

: )

I have been with tradex for about 7 years, and had a couple of bumps,wife ran into the back of a merc, and i had a barrier fall on me in croatia,and touch wood not had any problems.

I think the key to it is as above, you need to have social, domestic, pleasure, and to and from work for the wife (she has a different job) and they provide her with another certificate for that vehicle, and detail all the vehicles, cost me around £700 atm.

I have not done anything in the trade for about 4yrs as i'm doing other projects at the moment, but will go back as and when i'm done out here.

This has made me think i need to have a word with them come renewal time.

i wouldnt renew it, proof of trading is overlooked on some renewals but with some new policies they will ask for this upfront

to anyone reading this thread do not take a traders out if your not genuine. you may aswell flush your £ down the nearest toilet imho

Avoid tradewise for sure. Not worth the paper its printed on