Car traders insurance

[vxr2010]

Has any one tried this before , does it work out cheaper and better to do than having lots of single policies , any downsides to it and do they need proof of a company in existence , cheers in advance

[Greg VXR]

I too would be interested in how this works

[preciousmetal]

Most trade insurance companies require proof of business entity ie company reg no or VAT no.

Also many basic trade policies seem.chepa but hve be poor cover ie TRADEX

Also if you take out a trade policy but aren't legitimate trade use them your insurance will be invalid !! If you make a claim

I know someone who did this for cheaper family cover versus individual policies. Son had an accidemt and insurance didn't payout as it wasn't a car trade business as was mesmtnto be !! He learnt the hard way

[vxr2010]

i'm waiting for the broker to get back , what i have found out is probably no cheaper they don't like imports and even more don't like imports with mods , they won't protect your ncb , and after two years if you move on back to normal car insurance you won't have any ncb , i will wait and see what he says but it does not sound too good at the moment

[vxr2010]

broker called me today its more expensive by around 400£ , it appears due to some new government law all policies going up soon plus on top higher insurance tax , traders policies will be hardest hit