# Motor trade insurance



## sean20 (Jan 17, 2011)

Hi guys im after some advice on motor trade insurance, Im a part time mobile valeter and i know its not essential to have it but it would be a grate bonus to have it as i do buy and sell the odd few cars.

The problem is that im 23 and iv done a search on google and loads of insurance companies come up and stating on their website that they do insurance for anyone aged from 21 and up but as soon as i call them up i get 'sorry we don't insure anyone under 25' 

Dose anyone know any where that will do it? I know that there is limits on high powered cars and cars over a certain value but that is fine for me. i Just want all the correct insurances in place for my business 

Any help or advice much appreciated
Thanks


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## M4D YN (Nov 24, 2007)

i just renewed mines and couldn't put the GF on it and she's 23,not looking good


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## majcas84 (Aug 24, 2012)

M4D YN said:


> i just renewed mines and couldn't put the GF on it and she's 23,not looking good


Bit harsh! I'm sure she's got a nice personality to make up for it!!


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## sean20 (Jan 17, 2011)

One company took all my details and the firs thing i asked was if i could have a policy in my name as im 23 and they sead yes that's no problem, 2 minutes later sorry you aunt eligible as i haven't had a motor trade insurance before,

The other one i tried told me i be looking at 7k just for a basic policy


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## Miglior (Feb 12, 2006)

You should set up a ltd company and get insurance for the company with you as a director


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## sean20 (Jan 17, 2011)

Thanks, how will that make a difference?


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## furby-123 (Dec 3, 2011)

your in the same boat as me, im 22 and full time self employed valeter and cannot even get anyone to give me a quote at all.


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## Miglior (Feb 12, 2006)

Your trying to get insurance for a person to trade. There's a lot more consideration into that particular person taking out that insurance if its not done thru a business. 

A ltd company is its own legal entity and being. It's the company that takes out the insurance and you as a director act on behalf of that company.


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## Shiny (Apr 23, 2007)

We can do Motor Trade insurance for under 25's. 

It is a limited market and won't be cheap, but if you can keep the indemnity limits down it will help with the price. 

Forming a limited company will make no difference as you are still proposing to insure a 23 year old driver, so the risk is still the same. Unless you don't intend to drive at all and will be employing a driver over 25.


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## Miglior (Feb 12, 2006)

I was in a similar position, when I formed the company I never had a problem getting insurance


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## Shiny (Apr 23, 2007)

Potentially it could make a difference for a combined motor trade policy needed for a premises based business, there are a different market of insurers available for combined policies than those that do road risks only. Although to be honest if the reason for declinature is a driver's age/risk exposure, then this would usually apply whether the proposer was a sole trader or ltd company. 

The othe problem with road risks is that a few insurers are now insisting on 1 year's earned motor trade NCB, the the market for new start policies has shrunk again.

We have two insurers that will quote a road risks only policy and will also cover new starts, as long as a uk licence has been held for at least 12 months.


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## sean20 (Jan 17, 2011)

Shiny said:


> Potentially it could make a difference for a combined motor trade policy needed for a premises based business, there are a different market of insurers available for combined policies than those that do road risks only. Although to be honest if the reason for declinature is a driver's age/risk exposure, then this would usually apply whether the proposer was a sole trader or ltd company.
> 
> The othe problem with road risks is that a few insurers are now insisting on 1 year's earned motor trade NCB, the the market for new start policies has shrunk again.
> 
> We have two insurers that will quote a road risks only policy and will also cover new starts, as long as a uk licence has been held for at least 12 months.


Hi Lloyd thanks for your reply and information il give you a call tomorrow regarding the insurance as il be wanting to take out valeting insurance with yourself within the next few weeks.

One of the other companies told me il need a 1 years ncb but without having the insurance i cant earn any ncb.

Alot of the companies I spoke to wernt intrested and just cept passing me through to another compani that wouldnt insuer any one under 25 started to get a bit annoying


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## Shiny (Apr 23, 2007)

I may even still have your details lying around from last year! Give us a call and we will see what we can do mate.


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## sean20 (Jan 17, 2011)

Shiny said:


> I may even still have your details lying around from last year! Give us a call and we will see what we can do mate.


Sorry I didnt have time to ring you today il give you a ring tomorrow. I think iv still got the email you sent me with the prices and all the diferent levels of cover but im suer the prices have changed from then. I didnt end up taking it out after last year as I got offered a job for the year that I couldnt tirn down but now this year im concentrating on the valeting


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## Shiny (Apr 23, 2007)

Liability prices are still the same as last year mate. I was off this afternoon anyway. 

I'm in and out the office tomorrow, but Jayne or Syd can take down the quote details if I'm out when you ring.


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## sean20 (Jan 17, 2011)

Shiny said:


> Liability prices are still the same as last year mate. I was off this afternoon anyway.
> 
> I'm in and out the office tomorrow, but Jayne or Syd can take down the quote details if I'm out when you ring.


Cool no problem shal I just ask for you when I call?
Il probably be going for the gold cover on the insurance


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## Shiny (Apr 23, 2007)

Yes mate, no worries. Only the three of us there.


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