Trade Insurance

[MintyFresh]

How does this work?  

Im wondering wether this will be worth me getting.  Im setting up a car audio installation business, which may require me to drive other peeps vehicles.

thanks

[Gerry M]

Check out //www.tradexinsurance.com for details, I\'ve just taken out a traders policy with them, & it worked out £50 cheaper for it that a qoute on the RX & now I\'ve saved money by cancelling the 6 other polices I have. This covers me up to a 10k public liability & I can drive any car fully comp cant remember what I put the excess to thou. I\'m 28, 3 points, 3 claims & only one yr ncb & normal insurers wouldnt touch me with a modded RX

[Tintin]

You got another link for that company that one\'s dead

So whats the deal with trade insurance do you need proof that you run a qualifing business ?

If I could get it then it would save me a fair bit on other policies

[scooby_si]

http://www.smileycentral.com/?partner=ZSzeb008\' target=\'_blank\'>http://smileys.smileycentral.com/cat/7/7_1_116.gif\' border=0>http://www.tradexinsurance.co.uk/
Si

[Gerry M]

you can get an enthaustist policy from them

[scooby_si]

i\'d be intreged to see how it compares with 2 policys on a standard car & meaty RX7..........http://www.smileycentral.com/?partner=ZSzeb008\' target=\'_blank\'>http://smileys.smileycentral.com/cat/23/23_29_110.gif\' border=0>
Si

[MikeLMR]

hmmmm might give them a ring and see how much it is ... I have 3 insurance policies at the mo (although one allows me to be covered on road sections of rallies up to Nat A.)

[power_king]

I was searching through old threads for insurance advice and came up with this one.
Can anyone tell me if it would be better to get a traders policy if I have a modded RX and do you know the restrictions?
I\'m a 28 year old freelance consultant so have my own limited company, will I be able to insure my cars through a company on a traders policy?
I\'ve noticed that Tradex have a section for "Enthusiast", does anyone know what restrictions this would have?
Sorry to bring up "old stock" but I kinda need some advice from some experts, you guys.
I had a stupid quote yeterday for more than £6k with 1 years NCB living in London.

Thanks

Ty

[Tintin]

I\'ve got one of there enthusiast policies , basically its a trade policy under a different name , you can tailor the policy to you requirements , as far as I can see it doesn\'t have any restrictions , you can cover any car thats in you possesion or custody ( I take that as any car that you have permission to drive , they told me any car thats in my name )

You are insured for an indemnity not a vehicle , you set your limit at the value of the most expensive car , only down side I can see is your only allowed to claim that amount in a single year , however you can buy more at a prorata rate

Best bet is fill in the quote form on line , they\'ll call you back to discuss it and finalise any details , they\'ll be able to answer any questions

Good Luck , 6k is a touch on the pricey side

[power_king]

Thanks Tintin, I\'ll give it a try.
Can I ask how much you pay with them, age, NCB etc?

[Tintin]

I\'m 29 , 4 years NCB and this years renewal was £1600 for a 10k indemnity

thats with 3 points and an old drink drive conviction

[power_king]

I\'ve just had a quote from Tradex for 2 cars for £2500 which isn\'t too bad considering the mods I\'ve got. I haven\'t taken it out yet so haven\'t told them about all the goodies, do you know if it makes a difference even though it\'s a trade policy?
I also wanted to put my girlfriend on the policy (not to drive my Rex!) so she could drive the other car but they said you need to have 3 cars for 2 drivers. Is there anything stopping me buying a car that I\'m gonna keep off the road (no tax and MOT) and using it that way??

[Tintin]

If I remember correctly they don\'t need to know about mods as your being insured on an indemnity not a car , when you get the forms to fill in on the list of types of vehicles covered theres a box for modified , my rule of thumb is if they don\'t ask don\'t tell them

Don\'t see why you can\'t cover a car thats kept off road , you\'ll have three cars and they don\'t need to know your not using it , price won\'t go up for extra car but you will have to pay a bit extra for extra driver

What indemnity limit you set , My first year was £2200 at £10K

[power_king]

£2200 is pretty cheap, I\'ve only got 1 years NCB now (my Rex was my first years insurance for a long time, ouch!).
The woman said I was insured for a value up to £7500 but I\'m not sure how the indemnity works.
I declared the value of the Rex as £7500 and the Audi as £2500.
I\'m wondering if I could have my motorbike as the 3rd vehicle as that\'s £900 a year TPFT with 3 years NCB....outrageous isn\'t it!

[Tintin]

your indemnity is 7.5k ( value of most exspensive vehicle ) , ask about your bike a mate of mine is considering using them and he\'s got a bike

That is pretty cheap , I\'d take it especially if you can stick the bike on aswell