motor trade insurance?

austin

hi

i am thinking of starting to buy & sell cars part time, and wonder if anyone knows much about trade insurance, or popular companies, comparison sites, anything!

forgotmyname

Lots of insurers listed in the trade mags & autotrader. Be careful transferring your private car no claims
over to it. My mate did that but couldnt transfer it back to a private policy afterwards.

You wont find cover on the comparison sites, Too many variables involved. How many cars, Max value of any one
car, Max value of all cars. Where do you keep them, Insured for test drives or used as a courtesy car.

dacouch

Avoid anything underwritten by Tradex like the plague and try and avoid MMA, if you go with Chaucer read their exclusions very thoroughly and their restrictions on certain vehicles

Motortrade insurance for traders without proper premises eg trading from home has lots of small print and exclusions which the insurers will enforce so make sure you read and understand the policy you take out.

Also make sure you inform the insurers / mid of all cars that need to be declared to the MID as otherwise you will get problems with the police and the Insurers can decline claims. There is a leaflet explaining this on this link http://www.mib.org.uk/Downloadable+Documents/en/MID+Compliance/MID+Motor+Trade+Vehicles+A4.htm