I now have 3 cars that I use regularly and my insurance is going to start costing 200 pounds a month which is WAY too much. I'm not in the trade but I am training to become an autosport engineer at Uni. Is there any sort of policy will cover me to just drive any car like a traders policy? My mate has one. He isn't in the trade either so I don't know how it works? When I ask him about it and he just says ring up and get one which isn't very helpful! What the legal implications? Can anybody shed any light on this? Cheers
Went through this with my Dad a year ago, basically you will easily find insurance even with a part time motor trade job (buying/selling, breaking, valeting, servicing etc.) but otherwise you will only be covered socially, so commuting to an office or factory would not be covered. Also, there is a generally high excess, car value limit and risk of 'trade value' payout in the event of smashing your car up.
But I will actually have to be employed by somebody? It may be cheaper in the long run to just insure the three seperately.
Autosport Engineer at university doesn't really pose a valid reason for the need of trade insurance. Phone up a specialist insurer for modified and multiple cars and get them to quote you and ask about a driving any cars policy.
I think you need to look for a Multi-car policy, not a Traders one. A few folk on here run such insurance. I am sure they will be able to comment on how it works.
I run a traders policy with the understanding I must be making an income from buying and selling cars and fixing cars for people part time only, Iv been abit slack doing car stuff the last few months and they can ask for accounts at any point so If I was asked tomorrow Id be in trouble but by the end of my insurance year Ill have it all together. Other points on the traders policy to take into account are that for very modified cars which have had new more powerful engines or a 30% increase on standard power will only be 3rdpft, but when payouts for Mk2s are probably 50 so it doesnt matter much.
If two of them are classic age, try Footman James multi car. I've got 5 cars insured for 650 ish, fully comp, and unlimited mileage. 2 of the cars are group 20 insurance, all mods declared. I am over 40 though, and haven't made a claim since 1995.
I think I will be best trying the drive any car policy idea. My major stumbling block will be my in10 and 6 points!! What age is regarded as classic? My mk2 is a 1990
That's good I pay the same for 3 cars on separate policies and 2 of them are limited to 5k. Will look into this as I need redo all the cars insurance next summer.
The car should be old enough for some. It might vary by insurer. Not sure if the convictions will stop them though.
