What does a motor traders policy cover?
Motor trade insurance covers businesses to work on and drive their customers’ vehicle and vehicles the company owns. That cover may extend to just the business owner, certain members of the team or everyone who works for the business.
Can I use my motor trade NCB on private car?
Yes, you can transfer your NCB from your private car insurance to a trader’s policy. This is a great option if you’re just setting up in business and haven’t had a motor trade policy before. Transferring your NCB from a private car or van policy will help to reduce your insurance premium from the start.
Can I drive any car with motor trade insurance?
If a potential buyer takes a car for a test drive, they need to be insured in case an accident happens. Your motor trade insurance policy can cover this. Drive all types of car covered by your policy. Instead of being restricted to driving a particular make and model, you can drive all cars permitted under your policy.
Will I lose my no claims if I sell my car?
The same is also true if you sell your car and wait for a period of time before finding a replacement. You cannot keep a policy running without a vehicle attached to it so any partial year’s NCD earned will be lost and your NCD proof will be provided with the level you had attained at the last renewal.
Can you drive an uninsured car on a traders policy?
It is possible to drive an uninsured car on a motor trader’s insurance policy, however that car would then be considered insured.
Can anyone get a traders policy?
To be eligible for a motor trader policy, you must provide proof that you operate within the motor trade industry. So, if you run a business that is related to either cars, vans or motorbikes and involves servicing or even selling vehicles, you would qualify for a motor trader policy.
How do no claims work?
A no claim discount is a reduction in the cost of your car insurance if you don’t make a claim. You usually earn one year of no claim discount for every claim-free year of motoring. So, if you don’t make a claim for five years, you’ll have five years of no claim discount applied to the basic cost of your car insurance.
Can motor trade no claims bonus transferable?
Like private insurers, motor trade insurers do allow you to transfer your no claims bonus to a different insurer. This can be done by approaching your previous motor trade insurer and asking for a letter confirming that you have made no claims in the last two years, for example.
Is there a no claims database?
Quick, easy and accurate When you renew your insurance and you want to move to a new motor insurance provider, the NCD database enables the new insurer to verify your no claims discount directly from the database.