Right guys, i have had 7 cars in the last 10 months and i\'m moving onto my 8th once my RX7 is on the road.
Someone in the DVLA has said that because i\'ve had so many cars they have highlighted my name and are calling me a trader.
So if thats the case why dont i try and benefit from it - How do i get a traders policy. What do i need to qualify for one and where do i start the ball rolling.
Plus - what benefits would i get from this if any??
I\'m on my old man\'s traders policy with AXA... But you can just give them a call and get a quote.
What it means is that you\'re fully comp insured on ANY car (as long as you\'ve been given permission to drive it), anytime, anywhere, I think his one is a long as the car is worth up to £75,000 or something like that.
Then you get your own login details for the MID (Motor Insurance Database) where you have to put your own cars in there so if plod to a PNC check it comes up as insured.
Not that cheap mind, but then if that\'s your line of work then it\'s well worth it... Some people come out a bit cheaper, especially if you\'re insuring 3 -4 cars seperately.
I have a traders policy for my import company which also covers all the cars in my family. I\'ve found it more useful over the years but as stated above there not cheap. My policy was over £6K when I first got it nearly 10 years ago. It\'s come down now, but I have a couple of less people on the policy and im old now. :(
I think it\'s only good if you run a few cars otherwise it\'s expensive if you are only running a couple.
It depends what the total value of your collection is, but remeber you dont have to own several cars or turn over many cars to have a traders policy, you could be doing something valeting or stereo installations :Laugh.
I got a quote last year to cover anything less than £12000 and it was about 600 odd quid which also covers bikes, but they wouldnt allow the rex on it as it was an import. Others do but the price does go up significantly. I\'m now on my 26th car and 2nd bike in 7 years so i get this problem too