Hi, just wondered if anyone knows if there is anything to stop me saying I am a mechanic and so getting motor trade insurance. I had a look on the net and many companies say that it can just be a part time job, so I could say I fix peoples cars in my spare time. Or do I need some form of proof?

Thanks, Alex.

Not sure on your question, but make sure you're sitting down when you get the price, my brother-in-law has it, and its a lot of money

Motortrade policies tend to restrict you to the trade price of the car if you write it off or at least they used to.

As above there's nothing to stop you except the price it is hugely expensive - it really isn't worth it unless you are genuinely making a living out of it.

Cheers

mark

Whatever you do make sure you're not bending the truth too much (or at all really) as come claim time if they investigate and find out you've been telling porkies they'll just boot out the claim and tell you to get lost. Worst of all if they were particularly nasty they could in theory report you for "fraud by false representation" under the new fraud act.

Why do you want it it? If its because you have several cars then maybe some sort of "mini fleet" / multi vehicle policy would be an idea. You should remember you car usually put another car temporarily on cover on your exisiting motor policy for not usually too much money.

I just think that it may be cheaper than the £3000ish quotes I keep getting given for cars that are only wortha couple grand and aren't really that fast! And I could sort of be a business, I usually fix all my mates cars.....I'll just have to start charging them! haha.

As I recall a motortrade policy will allow you to drive any car whether you own it or not. Should imagine the price will reflect that anyway particularly if your already high risk.

Can we ask why your quotes are so high?? Are you young with loads of point etc??

There may be a suggestion of a way to get your premiums down that are more legitimate than a motor traders policy which as mentioned are massively expensive. I used to work for a car dealership and drove everything upto and including Porsche 996 Turbo's and 645ci BMW's.

For starters you can add a female / older named driver and believe it or not generally get a cheaper premium. I added my father to my policy and it brought the premium down by £15 and its only £200 anyway fully comp. I'm 35 and a member of the IAM, full NCB with never a claim in 17 years so was amazed adding a driver brought it down.

I'm 20 with 1 year NCB and just recently got 6points. I have also considered some competition car insurers as I used to be insured by one and they didn't worry about points at all, but limited me to 5000 miles. I just hate the fact that my insurance limits me so much in my choice of car, and also I change cars quite regularly, and insurance companies don't give me much back if I cancel after a few months. The cars I have been looking at insurance for are 200sx's, 300zx's, porsche 944's and 80's Camaros. I suppose they are all quickish but its stupid that I can get insured on my striker for £400ish and a 2007 Kawasaki zx6 for £300!



[Edited on 10/4/08 by alexdj125]

If they are all relatively low value cars have you considered a Third Party motor trade policy. Doing a google search on motortrade policies there seem to be lots about that don't care if you have premises or not.

Admiral do multicar as well, don't know how competitive they are though.

Greg

www.justgiving.com/gregeves

[Edited on 10/4/08 by greggers]

For a Porsche 944 you might be able to do it on a classic policy - especially if you can afford to stick to limited miles (and go through the owners club!!). The Camaro - similar through an American specialist policy again via an owners club. As for the Nissans - well i think you would be stuck a little there to big premiums. A mate of mine has had both and paid almost a grand and that was a few years ago and he was nearly 30 at the time. I paid £1500 on a Renault 5 GT Turbo when I was 21 (and that was 14 years ago!!)

Hopefully you will see a drop when reaching 21

[Edited on 10/4/08 by Paul TigerB6]

quote:

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Originally posted by alexdj125
I just think that it may be cheaper than the £3000ish quotes I keep getting given .

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Motor trade policy last year was £1400. The only issue is that each fortnight you had to register the cars in your possession. If they see that you are not changing the cars then you can run in to trouble. I think on this policy they allowed you one permanent vehicle the others had to show some signs of turn over.

Steve

I don't think there is any magic (legal) way round this issue, you're fairly young, have points and not much NCB and want to drive cars which are seen as in or close to the highest risk brackets. To an insurer you're not exactly a great proposition - nothing personal just stats that's all.

Apologies if that's not very helpful but that's just how it is unfortunately, generally you either have to wait till you're older or pay up?