More than one car insurance

Jenneal123

What is the best way for insuring my car/s.
I have one comprehensive policy but I buy and sell three or four cars a year.
I am not a trader and a multi car policy does not meet criteria.
Can anyone offer advice please?

forgotmyname

Buying & selling for profit = a trader. A trade policy would probably be best.

I presume you own more than one at a time though. If its just one at a time then your normal
policy but you need to choose carefully for a company that wont charge the earth to swap details.

Foxy-Stoat_3

Next time you have 2 cars try calling a broker and insure your normal car on a standard policy and the one your selling on a limited mileage policy and ask them to "mirror" the NCD to your normal car. That way you can have 2 PRIVATE policies going all the time.

When you sell the car keep the policy going and swop the details to the next one you buy. Expect to pay administration costs for each time you change.

If you declare on the insurance questions your full time occupation is a standard one and anwser no to part time work AND you change your car 4 times a year every year AND have an accident AND the insurance company investigate then you may well become unstuck as you would probably be classed as a trader in the insurance companies eyes.

The chances of you having an accident, and the insurance company investigating are slim to nil.

Hammyman

Jenneal123 wrote: »

What is the best way for insuring my car/s.
I have one comprehensive policy but I buy and sell three or four cars a year.
I am not a trader and a multi car policy does not meet criteria.
Can anyone offer advice please?

Yes you are a trader. Have you notified HMRC about the profit you make or are you a tax cheat as well?

There are trader policies that also give SD&P cover as well so you can insure your car for SD&P and insure your stock not only for your use but for test drives as well. As I recall, my mate pays in the region of £500.

rodenal

Hammyman wrote: »

Yes you are a trader. Have you notified HMRC about the profit you make or are you a tax cheat as well?

There are trader policies that also give SD&P cover as well so you can insure your car for SD&P and insure your stock not only for your use but for test drives as well. As I recall, my mate pays in the region of £500.

Not sure about that - in the past two years I've had maybe 6 different cars insured at various times and i'm definately not a trader ( certainly havent made any bloody money on them anyway). Good old admiral have certainly made a few quid out of me in £20 "admin" fees though.