10mpg
Club Retro Rides Member
Posts: 4,253
Club RR Member Number: 204
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Trade policys10mpg
@10mpg
Club Retro Rides Member 204
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Mar 31, 2011 22:45:20 GMT
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Check restrictions VERY carefully...
Quite often you cant use them for Social domestic and pleasure use..
I deal with a lot of high performance specialist and high value cars and 'most' trade policies exclude these, basically all Bentleys/RR/Ferraris/Astons ect ect plus more everyday stuff like Cosworths, TVR's M-bmw's, AMG mercs, Lotuses Porsche turbos plus most imports, (grey or J) Yank stuff and tunes/modified cars are usually excluded.. as are vintage and veteran (I do these too)
I have any car cover for me or anyone driving on my instruction, up to £500,000 per car (up to 5 cars stored at any one time) cars in transit on my trailer, tools, workshop contents and Public liability cover plus social domestic and pleasure... Costs me £2600 a year (more actually as i pay by installments) but you only need one feck up in a customers high value car for you to be on the thick end of a nasty lawsuit not worth the risk these days I'd rather be covered..
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The Internet, like all tools, if used improperly, can make a complete bo**cks of even the simplest jobs...
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Mar 31, 2011 23:19:09 GMT
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I did look at traders policy a while ago and reading the posts here reminds me why I ended up staying with my FJ multi-car policy ... The restrictions on cars you can drive and trade value on any claims for you own cars. You really need to have a good shop around and to take a good look at the policy before buying.
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Current cars: 1999 VW Bora SE tdi 1998 Daihatsu Storia X4 (x2) 1995 Volvo 850R 1994 Umm Alter II 1992 Alfa 155 - LPG 1990 VW Scirocco Scala - TSR 1.9 1989 Renault Espace 1988 Mitsubishi Galant Sapporo 1987 Honda Accord Aerodeck Exi auto (x2) 1979 Lancia Beta Spyder
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I did look at traders policy a while ago and reading the posts here reminds me why I ended up staying with my FJ multi-car policy ... The restrictions on cars you can drive and trade value on any claims for you own cars. You really need to have a good shop around and to take a good look at the policy before buying. You need to make sure you know what you're getting, but you're talking to them about spending a large sum of money so you have some pushing power. Like I said (I think I did) my only limits are a 25 or 30k indemnity limit on car claims, and 4 named J Imports and M/ cars. If I want to, I'm covered to take a Zonda for a rip. No trade value payouts on my stuff, full SDP&C, test drive coverage, trailer & load FC cover... just push a bit. the only thing that annoyed me last term was not being allowed 'any import' so I missed out on a really useful toyota 4x4, so I got it lifted with that tiny exclusions list of cars I can't afford or attempt to work on. Although I did break a M535i but that was in no way fit for the road lol
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rob0r
East of England
Posts: 2,743
Club RR Member Number: 104
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Trade policysrob0r
@rob0r
Club Retro Rides Member 104
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My cars are often cheap and nasty BMWs, my trade policy suits me down to the ground. I qualify as a part time breaker/trader which is actually an accurate description. My policy with Norton Tradewise (as recommended by Dez) has made my life SO much easier. My policy is pricey at around £850 (25 year old) but it's more than made up for multiple insurance costs and cancellation fees when changing cars. It's enabled me to buy and sell more cars, once insurance was the biggest show stopper when it came to cars and modifying, now it's an after thought. I love it.
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E30 320i 3.5 - E23 730 - E3 3.0si - E21 316 M42 - E32 750i ETC
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ToolsnTrack
Posted a lot
Homebrew Raconteur
Posts: 4,121
Club RR Member Number: 134
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Trade policysToolsnTrack
@overdrive
Club Retro Rides Member 134
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Jings, just tried Tradewise there. 2.5k for a guy pushing 30. Not so cheap after all...
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MWF
Posted a lot
Posts: 2,945
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Totally, seems a lot of people are effectively fronting with trade policies.
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May 12, 2011 10:53:32 GMT
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You really need to read the small print.
I ran my own garage for 10 years obviously with trade cover. When i sold up and went to work as an 'orange van man' i got a trade policy for my own collection of cars.
When i had to claim a few months later i was asked to provide proof of part time trading (invoices,parts receipts etc),which i didn't have and so really struggled to get them to pay out...
Also as previously stated if your vehicle is a total loss they will only pay out a trade value for it.
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May 12, 2011 12:31:22 GMT
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it amazes me that there are not any companies around that will allow a sort of 'enthusiasts policy' rather than a traders one, so people like me and quite a few of the peeps on here who are not 'traders' in the true sense of the word, but do have a few vehicles and would like to have them all covered could do so for a reasonable price..... gap in the market i reckon!!!
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Current fleet: '58 A35 (half mine) '67 11 window splitscreen vw (half mine) '77 mini 1000 (not quite 1000 any more!!) '86 Armstrong MT500 '89 XR4X4 '94 Corrado VR6 Some sort of sevenesque kit car (no age yet!!) '01 Mondeo estate 2.0 (engine eventually destined for kit car!) - scrapped, engine only left! '98 E300 estate, rusty but seemingly reliable, fast-ish tat hauler. eventual engine donor A35 van, or whats left of it after it lived in a field for many years
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