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Motor Trade Insurance

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  • 18-12-2008 2:38pm
    #1
    JackFrosty
    Closed Accounts Posts: 191 ✭✭


    I am thinking about getting a motor trade policy in the new year,

    I bought an old transit beavertail recovery truck which i will be using to collect scrap cars, and what ever other recovery work i can get.

    I have a small yard for vehicle storage and repairs,
    my questions are:

    1. Where should i go for a motor trade policy?

    2. What are the main advantages of these policys?

    3. Are there any grey areas i should know about?
    Any info or comments welcome!!!


Comments

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    #2
    Barry walsh
    Registered Users Posts: 71 ✭✭Barry walsh


    First off if you are not actively trading and provide proof you cannot get trade insurance.No doubt i will be followed by i have and i am a plumber etc.They will not pay out for anything if you do this.If you set up a company for recovery and register for vat and trading name then you can get trade insurance.It costs around 2500 depending on the company and what cover you want public liability etc.You cannot now get just road risk which could be gotten in the past.This was an effort to stop private people getting trade insurance because they want to drive a high powed car they cannot get a quote for or a really high one for.I am in the trade and found it very difficult to get a quote for trade insurance there are a few brokers that deal in trade insurance some less scuplious than others.But if you dont meet the conditions its fraud.


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    #3
    JackFrosty
    Closed Accounts Posts: 191 ✭✭JackFrosty


    I will be working full time at this, I do plan to register the business,
    Maybe i should just insure the truck first (tight budget) and take out trade insurance later


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    #4
    Barry walsh
    Registered Users Posts: 71 ✭✭Barry walsh


    If you are at it full time then ring and find out you might have to have premsis too if i remember correctly or at least an address thats not a private dwelling.It depends on you age no claims etc i am only 24 so it depends on you experience etc.It could be cheaper another friend has it and he is only paying 2000.The truck alone might work out as much as you will have to get insured to carry other peoples cars as well as scrap


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    #5
    JackFrosty
    Closed Accounts Posts: 191 ✭✭JackFrosty


    thanks, i will be ringing a few companys for quotes, kinda hoping i might get pointed to the right company from other people on this site


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    #6
    Maf180
    Registered Users Posts: 45 ✭Maf180


    I may be able to help.

    PM me with your details and should be able to get you a quote.


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    #7
    JackFrosty
    Closed Accounts Posts: 191 ✭✭JackFrosty


    nice 1 il pm you tomorrow, thanks


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