Motor trade insurance policy

anthony4335

I bought a second car recently ,and I am trying to get it insured at the moment, only a few seem to mirror the NCD and one has already come back with a quote of 1K ,at 36 years old 2 points and 14 years claims free this is a little bit of an insult. So some one told me to look into a trade policy and I have got a quote for 1300 to drive any car including my own fully comp. Has anyone ever done this? and how did you get on with it, say for taxing both cars etc?

Paddy001

Father still has one from when he was in the trade. Can drive anything he has a license for, fully comp regardless of if its insured or not. Taxing is not an issue just fill in details as usual. However, bare in mind the policy will be on you and not on your cars, you will also input data on the cars you own into a database for ANPR use, this is done online. Just bare in mind if anyone wants to drive your car, they are normally only covered if there is insurance on the car, very few policies will allow open drive with no insurance on the other car, so realistically most people cant drive it except yourself.

johnos1984

Out of interest who provides trade insurance and is there any limitations on who can apply?

I have two cars that need to be re-insured next June.

Also OP, how old is the second car. Classic insurance is available for any car over 15 years old

MidlandsM

My trade policy is covered by Travellers.....for €800 bob p.a., I can drive anything, fully comp, worth up to 100k, any horsepowaaaaaaaaaaa and 10 tonnes in weight.

got to say, its great.

Mines is a fulltime policy.

You can get a part time traders policy from 1,200 p.a. upwards.

L-M

What age are you if you don't mind me asking?

MidlandsM

Limerick man wrote: »

What age are you if you don't mind me asking?

I do.

Otis Driftwood

anthony4335 wrote: »

I bought a second car recently ,and I am trying to get it insured at the moment, only a few seem to mirror the NCD and one has already come back with a quote of 1K ,at 36 years old 2 points and 14 years claims free this is a little bit of an insult. So some one told me to look into a trade policy and I have got a quote for 1300 to drive any car including my own fully comp. Has anyone ever done this? and how did you get on with it, say for taxing both cars etc?

This may be a silly question but are you a mechanic/in the motor trade?

anthony4335

I am not in the trade or a mechanic, just looking for better value insurance. No one else drives my cars. The cars in question are 2005 and 2004, so classic insurance is out of the question.
MidlandsM why would a part policy be more than a full time policy? Are there restrictions to getting a trade policy?

Cerbera

I had one but I gave it up this year.

It's now working out cheaper for me with the car I have now to insure them comp individually (I do have a spare bonus form something I sold on which helped).

As regards taxing the cars you just put the policy number on like normal for each car.

One thing to check though is what are the exclusions (windscreens probably won't be covered / cars not insured while parked at home, only while on the road / etc may be in the small print).

Thankfully I never had a claim but the broker did warn me that if I did have one then the premium was likely to soar the following year.

Also I was advised to make sure to have something advertised on some free ads website in case I had a claim and there was no evidence of me trying to sell anything (I used the free "cars for sale" section on www.octane.ie)

It's bloody handy though being able to sit into anything and drive it knowing you are covered fully comp.


Oh and OP, a call to your current broker would probably be the best route for you now as you will get factual information on what options ar available to you based on your own circumstances rather than a load of opinions from us lot.

MidlandsM

anthony4335 wrote: »

MidlandsM why would a part policy be more than a full time policy? Are there restrictions to getting a trade policy?

i don't know, i guess they load you because they can!

re; restrictions, the insurer may want a list of the cars you sold in the last 12 months, no issue if you are a dealer, but maybe an issue if your not selling metal.;)
No glass cover either.

Op, normally your existing insurer will look at mirroring your bonus as they are the only ones that can really. Other then that are you named on anyone else's policy up until max 3 months ago and for how long?

oldyouth

Motor trade policies are only for people who are full or part time engaged in the motor trade. They are not a means to allow people drive a selection of their own cars or a high powered car on the cheap.

Before the barrage begins, yes I know many many people outside the motor trade have these policies, but they still fall under the rules of misrepresentation. Why do you think they are called Motor Trade policies and not Drive What You Like policies?

oregano

800 euro per annum!? I pay 2500 for mine, it does include public liability and premises obviously, but still no windscreens!

To warn the OP, there are a lot of restrictions compared to fully comp.

Call campion insurance on the NAAS road, they do most trade insurance in Ireland.

ShadowHearth

oldyouth wrote: »

Motor trade policies are only for people who are full or part time engaged in the motor trade. They are not a means to allow people drive a selection of their own cars or a high powered car on the cheap.

Before the barrage begins, yes I know many many people outside the motor trade have these policies, but they still fall under the rules of misrepresentation. Why do you think they are called Motor Trade policies and not Drive What You Like policies?

Maybe there is aproblem with this system? Where people have to go in to sneakiness to insure theyr second cars?

I have 2 cars which individually cost a fortune to insure. Can I drive both of them at same time ,same way I have to have them insured both ad same time? My arse is big, but I still wouldn't be able to cover both driving seats at same time...

Guy:Incognito

MidlandsM wrote: »

and 10 tonnes in weight.
.

With an appropriate licence surely?

CoDy1

ShadowHearth wrote: »

Maybe there is aproblem with this system? Where people have to go in to sneakiness to insure theyr second cars?

I have 2 cars which individually cost a fortune to insure. Can I drive both of them at same time ,same way I have to have them insured both ad same time? My arse is big, but I still wouldn't be able to cover both driving seats at same time...

That same argument keeps coming up but if your driving one car and the other is stolen from your drive while your away what happens? Currently, in Ireland, each vehicle has to have its own policy, unless its Fleet or Motor trade.

Motor trade policies are designed for people who are actively in the motor trade and their is a necessity for them to drive other vehicles on a regular basis, ie mechanics, car sales etc.

It maybe easy to take out MT policy but when it comes to making a claim and your are not in the motor trade you wont get a penny. Insurance companies are very strict in this area and will thoroughly investigate each claim as it is quiet obviously an area that can be exploited.

When it comes to being stopped by the guards at check points etc if you have a trade disc with out a reg indicated, the gardai can now instantly check the National Fleet Database, (www.nfd.ie) this is a requirement for any motor trader to input the details of any vehicle held for over 14 days.

mgbgt1978

Paddy001 wrote: »

Father still has one from when he was in the trade. Can drive anything he has a license for, fully comp regardless of if its insured or not. Taxing is not an issue just fill in details as usual. However, bare in mind the policy will be on you and not on your cars, you will also input data on the cars you own into a database for ANPR use, this is done online. Just bare in mind if anyone wants to drive your car, they are normally only covered if there is insurance on the car, very few policies will allow open drive with no insurance on the other car, so realistically most people cant drive it except yourself.

You are very, very wrong there. We have had multiple threads here about this very topic and it appears from the replies posted that the majority of insurers that allow "driving other cars" do not require the other car to be insured.
Also I know it's a bit pedantic but "open driving" refers to you having a policy that allows other people to drive your car (usually with certain restrictions; over 25's, full licence, etc.)

Paddy001

mgbgt1978 wrote: »

You are very, very wrong there. We have had multiple threads here about this very topic and it appears from the replies posted that the majority of insurers that allow "driving other cars" do not require the other car to be insured.
Also I know it's a bit pedantic but "open driving" refers to you having a policy that allows other people to drive your car (usually with certain restrictions; over 25's, full licence, etc.)

I know what open driving means, but I wasn't sure what the correct term I was looking for. Well any policy I've seen with anybody I know requires the car to be insured, but I stand corrected.

MidlandsM

oregano wrote: »

800 euro per annum!? I pay 2500 for mine, it does include public liability and premises obviously, but still no windscreens!

To warn the OP, there are a lot of restrictions compared to fully comp.

Call campion insurance on the NAAS road, they do most trade insurance in Ireland.

yep, my policy is purely for vehicles, I've my premises and PL on a seperate biz policy.

Guy:Incognito wrote: »

With an appropriate licence surely?

yes, with the right class of licence C1 etc, it cover up to 10 tonnes, so my car transporter truck is covered too, which is very handy.

anthony4335

I decided against the attempt to get a trade policy after some of the concerns voiced here, thanks for the replies by the ways. I managed to get a second policy with Setanta from Carey Corbett in Ennis ,full comp for 500 euro. Worth giving a try if anyone is looking for a second car policy with mirrored no claims. I also am moving my house insurance to them as they beat 123 by 20 euro.

oldyouth

anthony4335 wrote: »

I decided against the attempt to get a trade policy after some of the concerns voiced here, thanks for the replies by the ways. I managed to get a second policy with Setanta from Carey Corbett in Ennis ,full comp for 500 euro. Worth giving a try if anyone is looking for a second car policy with mirrored no claims. I also am moving my house insurance to them as they beat 123 by 20 euro.

You did the right thing. At least you know you are covered correctly.