Using my insurance to drive other cars with traders insurance

victor2

I think you'll find the brother's insurance policy is void once he's passed away, so the car will not have a valid policy if it was in the brother's name.

arcon5

My trade policy asks me to confirm I am the owner and keep of the vehicle when I make MID changes. Cover is also provided for the use of vehicles for trade purposes whilst in my possession. From what I understand these are standard terms.... so I suspect adding it to the brothers trade policy is merely an exercise that marks it as insured with the MID than anything.

bigjl

A car doesn't automatically get listed on MID when being used under a traders policy. But a trader will still be insured to drive it under his policy.

You have a period of time before which you have to inform the Insurance company of the cars Reg no so they can update the MID

From memory when I had Tradex Insurance it was something like a couple of weeks.

I would suspect that after the car has been placed on the MID then you should be fine to drive it on your policy 3rd party only.

Test drive coverage is usually only valid when the driver is escorted, it least it was with Tradex, this was to stop people fronting Insurance for friends and family by putting it on a Traders Policy.

rs65

londonTiger wrote: »

Trouble is I dont knw where I stand with insurance.

Best thing to do is keep his policy going, maybe changed to 'The Estate of' or 'The Executors of' and adding you as driver.


If the car is so important to the kids, why risk driving it TPO on your policy.

londonTiger

thanks fr the feedback I will err on the side of caution. Insurance can deem it to be a commercial vehicle with traders insurance on as it is stock of the motor trader.

Just makes it a little bit inconvenient. The trader doesnt have enough room in their yard to keep it and since they're doing us a favour selling it comission free they want to incurr as little cost as possible so they've asked us to keep the residents permit and road tax until they sell it on in which case they will take it off the streets .

My cousin is in partnetship with 3 other people and he doesn't want to park it at their business premisis since the business wont profit from the sale.

rs65

londonTiger wrote: »

Insurance can deem it to be a commercial vehicle with traders insurance on as it is stock of the motor trader.

No they can't. A car is a car.

Marktheshark

Think direct line are the only firm left that will cover you to drive another car with no insurance on it.

JayCartwright

londonTiger wrote: »

thanks fr the feedback I will err on the side of caution. Insurance can deem it to be a commercial vehicle with traders insurance on as it is stock of the motor trader.

Just makes it a little bit inconvenient. The trader doesnt have enough room in their yard to keep it and since they're doing us a favour selling it comission free they want to incurr as little cost as possible so they've asked us to keep the residents permit and road tax until they sell it on in which case they will take it off the streets .

My cousin is in partnetship with 3 other people and he doesn't want to park it at their business premisis since the business wont profit from the sale.

So the registered keeper is no longer, the car is now part of his estate. You've moved the insurance onto a traders policy and that of a person who's main business is selling cars. One may argue about the status of the road tax currently on the vehicle.

dacouch

londonTiger wrote: »

My cousin is in partnetship with 3 other people and he doesn't want to park it at their business premisis since the business wont profit from the sale.

Call me a cynic, but reading between the lines, your cousin is an employee and has added it to their motor trade policy.

rs65

londonTiger wrote: »

My cousin is in partnetship with 3 other people and he doesn't want to park it at their business premisis since the business wont profit from the sale.

What if it gets stolen - will he want to put a claim on their policy. Get the thing properly insured. Whoever the executor is should be doing this to protect the assets of the estate.