The Details

Motor Trade Insurance

Road Risk Motor Trade Insurance – You can be confident that we will provide you with a road risk motor trade insurance policy that suits your individual trade.

All our motor trade insurance policies are considered for Public and Products Liability . Where necessary this may also include employers liability motor trade insurance.

We can also provide motor trade insurance cover for customers working from home.

Motor Trade insurance is available when you are selling more than six vehicles a year.

Cover can include:

• All Motor Trade Occupations Considered
• Ages 25 +
• Cover Available for Full Time or Part Time Motor Traders
• Demonstration Cover Available
• Additional Business Use available for most occupations
• Public & Employers Liability Cover Available
• Cover Available for Sports, Performance & Prestige car specialists
• Cover for Scrap/Salvage Cars available
• Stock of Vehicles cover available Standard Cover for up to 7.5 T
• Mirrored NCB available
• Cover for EU licences (subject to residency)
• Cover available for all UK  post codes
• Carriage of vehicles cover available

Your Motor Trade Insurance questions answered

Does the car need to be owned and insured by somebody else? No unlike DOC on a car policy the trade policy covers the policyholder to drive the customer’s vehicles for trade use even if the customer’s car does not have insurance on it currently.

Can I drive vehicles with no Tax? Only if you acquire trade plates from the DVLA.

What vehicles can I drive?

• CV up to 7.5 T
• Vehicles with more than 8 seats(not 7)

Other Information

Do I qualify for a motor trade insurance policy?

Are you a motor trader?

Most good brokers and insurers will ask for certain criteria before selling a Motor Trade policy.

To qualify for a Motor Trade policy obviously you must be actively buying and selling cars or working in the motor service industry.

Buying and selling cars?

• Most insurance companies will want to see you turning over a minimum of 6 vehicles a year even on a part time basis.
• We do have an insurance company that do not have restrictions on how many vehicles are brought and sold but they do require that you are actively buying and selling
• This is in addition to changing your own personal vehicle
• The vehicles must be brought and sold with a view to sell on for a profit and not just for your own personal use.

How do I prove to the insurance company that I have been selling cars?

• Brokers or insurer might request proof of trading before they go on cover
• This can be purchase receipts copy of invoices or your accounts
• If this can't be produced and you have confirmed that you have been trading before cover can be cancelled by the broker or insurer
• Some insurers will do a spot check and request this information half way through an insurance year

What happens if I have a trade policy and am not trading?

• In the event of an accident if you can't provide adequate proof that you have been actively trading in the insurance period the insurance company have the right not to pay the claim
• If this happens they will also cancel the insurance policy

If I work in the motor service industry part time can I have a trade policy?

• Yes - There are two kinds of policies available a motorserve or motor trade. The motor serve will cover the vehicle you runand then cover your customers vehicle for you to move or test drive following service or repairs
• Motor trade policy will cover you the same but will able you to run the customers vehicle or keep it for longer periods if need be and will cover all your vehicles not just one vehicle as the motor serve policy does.

Vehicle declaration to MID

Motor Insurance Data Base.

1. As a motor trader if you purchase a vehicle and have not sold the vehicle within 7 days then you need to register the vehicle with the Motor Insurance Data Base.
2. This is to register the fact the vehicle is in your possession and is insured through your motor trade policy.
3. If the police run the registration number through the data base it will show that you have registered the vehicle and that you are legally insured to drive it.
4. This will stop any administration or inconvenience should they have to stop you to produce documents to show you have the cover as a trader as the vehicle will be registered to the previous owner.
5. The Policyholder must register the vehicles as being in their possession within 14 days of ownership on the MID. For further information as to rule and regulation please visit the MID website.

 

What vehicles can I drive?

Is there a restriction on vehicles I can drive?

Most standard motor trade policies have restrictions on but we can place cover for all types of vehicles?

Our standard policies will cover all vehicles but not:

1. Commercial vehicles over 3.5 tons GVW
2. Caravanettes, motor homes, motorcycles, quad bikes, three wheeled vehicles or kit cars
3. Vehicles manufactures in USA or Canada unless specifically manufactured for sale in the UK
4. Vehicle with more than 7 seats
5. Vehicle manufactured before 1980
6. Vehicles modified in order to improve performance
7. Vehicles with Fibre glass bodies

Our non-standard Policies will cover:

1. All of the above
2. Along with high performance and sports and prestige
3. Vehicles over 3.5 Tons GVW
4. Imported Vehicles
5. Motorcycles

The non-standard motor trade policy will of course generate a higher annual premium than standard but this reflects the risk because of the types of vehicles being driven.