Car traders insurance

sweetsand

Reading a post on MSE someone their name escapes said something about this type of insurance being a lot cheaper and that is how their got their 3/4 cars insured it could be more can't recall.
Questions:  How many cars do you need to have this type of insurance and how often do you have to buy and sell in a 12 month period as the other poster said they traded part-time. 
We, on avergae will buy and sell one car a year, usally buy a new one and sell one of the others - can we apply for traders insurance?

Another question - rarely see them these days but car being driven around with one of those trade plates hanging off them.  So, I can't really see how we could travel the 180 miles to Leeds like taht as most with those plates drive around their local garage.  When our cars are serviced etc, we have waited while they are looked at and i don't recall the trade plate being put on the car just the main dealer guy driving out in the car and back.

I recall reading on the net that you have to be a business - how would i go about that without too much costs that won't outweigh the benefits on traders car ins.

Many thanks in advance

ps = we have 4 cars at our address - VW R type, S class, Range Rover and 911 

dacouch

Motor Trade Polices are only for genuine traders, the Insurer will ask for proof you are a genuine trader eg accounts, adverts and invoices.
Claims for your own vehicle are paid on the "Trade" value of the vehicle
The Insurers offering cover to traders without premises are sharks and unless you genuinely need a policy from them are best avoided
If you are worth a few quid you may find your Home Insurers offer a home fleet policy which typically offer very wide cover

dacouch

When I used to sell these we ended up getting customers signing a declaration that they were genuine traders and they understood they would need to evidence this should there be a claim etc. We would still field phone calls from the police who had pulled them over and clocked they were not genuine motor traders.
Traffic Cops tend to be very informed on Insurance dodges and are fully aware of the requirements of motortrade policies. They generally make a point of checking until they are satisfied that anyone they stop under this type of policy is a genuine trader
If you're with a Home Insurer such as Chubb or Hiscox they offer fleet policies and the cover is exceptional. failing that look up Home Fleet Policies

Mercdriver

dacouch said:

When I used to sell these we ended up getting customers signing a declaration that they were genuine traders and they understood they would need to evidence this should there be a claim etc. We would still field phone calls from the police who had pulled them over and clocked they were not genuine motor traders.
Traffic Cops tend to be very informed on Insurance dodges and are fully aware of the requirements of motortrade policies. They generally make a point of checking until they are satisfied that anyone they stop under this type of policy is a genuine trader
If you're with a Home Insurer such as Chubb or Hiscox they offer fleet policies and the cover is exceptional. failing that look up Home Fleet Policies

Hiscox have stopped doing UK motor insurance - I used to be with them - they cited Brexit as a reason.  Chubb are still iin the game though.

strawb_shortcake

A quick google search and I found this
https://www.tradex.com/motor-trade-insurance
Sounds like trader insurance is very much tailored to the individuals needs and requirements. Tradex also offer home fleet.
But I'm pretty sure the poster you refer to is a frequent and reliable poster and had no reason to tell porkie pies about how they pay for their insurance 

sweetsand

dacouch said:

When I used to sell these we ended up getting customers signing a declaration that they were genuine traders and they understood they would need to evidence this should there be a claim etc. We would still field phone calls from the police who had pulled them over and clocked they were not genuine motor traders.
Traffic Cops tend to be very informed on Insurance dodges and are fully aware of the requirements of motortrade policies. They generally make a point of checking until they are satisfied that anyone they stop under this type of policy is a genuine trader
If you're with a Home Insurer such as Chubb or Hiscox they offer fleet policies and the cover is exceptional. failing that look up Home Fleet Policies

Thank you.

dacouch

annabanana82 said:

A quick google search and I found this
https://www.tradex.com/motor-trade-insurance
Sounds like trader insurance is very much tailored to the individuals needs and requirements. Tradex also offer home fleet.
But I'm pretty sure the poster you refer to is a frequent and reliable poster and had no reason to tell porkie pies about how they pay for their insurance 

As I said in an earlier post this part of the market is frequented by Sharks and Tradex are a Great White

-taff

sweetsand said:

Another question - rarely see them these days but car being driven around with one of those trade plates hanging off them.

I see lots of them. It depends where you live I expect. Near to a lot of dealers = lots of plates. Not near = not many.

sweetsand

-taff said:

sweetsand said:

Another question - rarely see them these days but car being driven around with one of those trade plates hanging off them.

I see lots of them. It depends where you live I expect. Near to a lot of dealers = lots of plates. Not near = not many.

I guess you are right, thanks.

sweetsand

Sorry, just remembered, so why do the guys are our various dealers put the plates on when the take the car out ofr a test drive?
Thanks

bengalknights

sweetsand said:

Sorry, just remembered, so why do the guys are our various dealers put the plates on when the take the car out ofr a test drive?
Thanks

The plate is so you dont have to road tax the car.