FAQ
Motor Trade
Q. Is there any person in the motor trade business that you do not cover?
A. We cover everyone in the motor trade except those involved in scrap and salvage and repossession.
Q. Do I need to tell you about all the vehicles in my possession?
A. You need to declare all vehicles that are in your care or are sale stock at the start and renewal of your insurance. You are also legally required to tell us about all taxed vehicles used on the road - the only exception being where a vehicle is not held for more than 14 days.
Q. Who is covered on my policy?
A. Coverage is for the main policyholder and all named drivers, providing they are a company partner or director, an employee or your husband/wife.
Q. Are my employees covered for private use or in their own vehicle?
A. No
Q. Are the vehicles covered at my home or business premises?
A. The vehicles are covered at your business premises if you have paid the extra premium to extend the policy cover. If you work from home that address is defined as your business premises.
Q. If I work part time in the Motor Trade but full time in another occupation, will you still insure me?
A. Yes
Q. Can I let my customers test drive the vehicles before they purchase from me?
A. Providing a named driver accompanies the customer during the test drive you will be covered for 3rd party only during a demonstration.
Q. What No Claims Bonus do you offer?
A. With Tradesure we can transfer your NCB from a private motor policy, motor trade policy or commercial vehicle policy up to 50% after 5 years. In the event of 1 fault claim only 2 years NCB will be lost.
Q. How much will I be paid if the vehicle is a write off?
A. As this is a motor trader policy, you will be paid the trade price for the vehicle less the policy excess.
