Trade policy..

[Conor]

Hello all,

A few people have been telling me laterly that I should be looking into getting a trade insurance policy given the number of cars I currently own (5).

Ireland is known to be expensive for insurance but the numbers bandied around didn't seem criminal so the UK, would presumable be cheaper.

I personally don't see it as possible / feasible, but just curious if others have had something like this in place and how well does it work.. would I be able to drive my cars abroad?

Curious.

Conor

 

[DSK]

I was looking into this but, aside from the cars, iirc you need to be a registered business what would legitimately need to drive multiple vehicles.

Tradex was a name I recall from when I looked into it.


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[A.J.]

Hello all,

A few people have been telling me laterly that I should be looking into getting a trade insurance policy given the number of cars I currently own (5).

Ireland is known to be expensive for insurance but the numbers bandied around didn't seem criminal so the UK, would presumable be cheaper.

I personally don't see it as possible / feasible, but just curious if others have had something like this in place and how well does it work.. would I be able to drive my cars abroad?

Curious.

Conor

That isn’t going to work. A very good friend of mine is a Trader and we were talking about that very subject only recently. He told me his premium on his Trade Policy was over £800 !. The premium on my policy is just under £280, quite a difference . And that is for a Hot Hatch in central Norwich !

 

[Conor]

Thanks guys,

As I suspected it's a non runner. Personally I never saw it as feasible.. because at the end of the day.. if you had a claim. They would ask the question about all the cars personally owned by you .. and then to prove trading via invoices, which would unlikely exist. So, cover refused.

That isn’t going to work. A very good friend of mine is a Trader and we were talking about that very subject only recently. He told me his premium on his Trade Policy was over £800 !. The premium on my policy is just under £280, quite a difference . And that is for a Hot Hatch in central Norwich !

I would be happy with 800 quid. To renew a few of mine recently they wanted over £2k. So I duly took a number of them off.. now i'm in a position where I'm kind of chopping and changing on my policy and it's kind of annoying, administratively speaking.

 

[DSK]

I have all 4 of mine insured with Chris Knotts, not the cheapest, not the most expensive but I like I can just make a call and do stuff over the phone with minimal crap.


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[Conor]

I have all 4 of mine insured with Chris Knotts, not the cheapest, not the most expensive but I like I can just make a call and do stuff over the phone with minimal crap.


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Yea CK seems to be a great service.. but sadly London SW post code is no bueno for all but the biggest insurers who have good models..

I need to move out of London a bit to get the insurance side of things under control.

 

[fabes]

A number of insurers (Inc Admiral) do good multi car policies, but London is a killer for premiums - that's why all Londoners have a 'salary weighting' and get paid a fortune don't they......

IOW is one of cheapest places to insure anything (apart from a house against subsidence) if you do fancy a move.
Roads are a bit limiting though

 

[Blobcat]

IOW is one of cheapest places to insure anything (apart from a house against subsidence) if you do fancy a move.
Roads are a bit limiting though

Oh I don’t know… I’ve had a nice blast or two around the island in my SLK some nice roads once you get out of town

 

[Conor]

A number of insurers (Inc Admiral) do good multi car policies, but London is a killer for premiums - that's why all Londoners have a 'salary weighting' and get paid a fortune don't they......

IOW is one of cheapest places to insure anything (apart from a house against subsidence) if you do fancy a move.
Roads are a bit limiting though

Funnily you say that I have been with Admiral the last 4 years and they aren't bad at all.. they throw the NCB years around like confetti on the multi car policy.

Nowhere else seems to have come close on pricing cover.

 

[fabes]

Yep, I've been with them for the house and four cars for a few years now.

Back to Trade policies, they are cheap if you need a wide range of cars (or vans) automatically covered, but they do price in you could be driving a banger one day and something close to a supercar the next. If you have a relatively static fleet and they are quite modest, then a multi car policy will be the most cost effective solution