Car traders insurance

Mercdriver

dacouch said:

Mercdriver said:

Sandtree said:

Mercdriver said:

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.

Hiscox still list Motor as being available via their Private Client offering on their website... from memory you had to have a Hiscox 606 Home policy to be able to buy the Private Client Motor but the cover is very high (agreed value, drive any car fully comp, any driver on your own cars, life for like courtesy cars etc)

That's exactly what I had and what I have now with Chubb.  It's not cheap but the nature of what I do for a living means I am careful about having proper cover.  I had a letter the year before last from them saying they were withdrawing from the UK motor insurance market.  The only exclusion on any car fully comp is any car normally kept at the same address - hence I couldn't use it to drive my wife's car, the nature of what I do means that my wife's insurer declined to give a quotation to add me to her policy.  My E class was covered for more than I paid for it for the first few years and when someone shunted me on the M4 I was given an E Class from Europcar while my car was in the bodyshop.  

I can guess what your occupation is

oh?  
It is a fantastic product but yes is expensive and I'm not seeing reductions is premiums in spite of a lack of at fault claims.  

Dr_Crypto

sweetsand said:

Car_54 said:

sweetsand said:

Car_54 said:

sweetsand said:

MinuteNoodles said:

Trade plates are issued by DVSA for business use only. Get caught using them to take your family on a trip to visit relatives or the wife to do the shopping and DVSA will revoke those plates and take them back.

 However, if car is mot and taxed, you don't have to hang one of these plates but if stopped by police you can show them tell them re trde plates.

If the car is taxed, and you're stopped by police, why would you mention trade plates? It's utterly irrelevant.

Should have said, tell the police you have trade insurance rather than plates. That was in the context of the posts ie you hand trade plates if not tax but if taxed etc, i was confirming you did not have to hang trade plates but tell the officers re trade plates type insurance, well car insurance.

But a car that is taxed is not "in trade" , and so is unlikely to be covered by trade insurance.

The normal practice for a trader buying a car to advise DVLA it is in trade: the seller then gets a tax refund and the car stays untaxed until it's resold. That is why trade plates are used for test drives etc..

I poss misunderstood a poster here when I asked, = an untamed car from a trader could driver around for a test on thos trade plates hanging off them. So I asked, when we take our cars in for a service, fault finding they drive off, I do not recall them hanging on trade plates, so what insurance are they covered by - my understanding from the posts on this thread was you can be covered by trade insurance as long as the car is taxed IE the example I gave you about our car/s being test driven by a technician/etc.

Trade plates permit you to drive an untaxed and unregistered car. It must still be insured. For a car in a garage being insured it would still be taxed so there’s no need for trade plates. 

dacouch

Mercdriver said:

dacouch said:

Mercdriver said:

Sandtree said:

Mercdriver said:

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.

Hiscox still list Motor as being available via their Private Client offering on their website... from memory you had to have a Hiscox 606 Home policy to be able to buy the Private Client Motor but the cover is very high (agreed value, drive any car fully comp, any driver on your own cars, life for like courtesy cars etc)

That's exactly what I had and what I have now with Chubb.  It's not cheap but the nature of what I do for a living means I am careful about having proper cover.  I had a letter the year before last from them saying they were withdrawing from the UK motor insurance market.  The only exclusion on any car fully comp is any car normally kept at the same address - hence I couldn't use it to drive my wife's car, the nature of what I do means that my wife's insurer declined to give a quotation to add me to her policy.  My E class was covered for more than I paid for it for the first few years and when someone shunted me on the M4 I was given an E Class from Europcar while my car was in the bodyshop.  

I can guess what your occupation is

oh?  
It is a fantastic product but yes is expensive and I'm not seeing reductions is premiums in spite of a lack of at fault claims.  

The car Insurance is a loss leader for them, they make the money on the Home Insurance where margins have always been reasonable. The fleet is just a product they offer as their customers want a complete package with the same high level of cover and claims service as the Home product.