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Traders Policy

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    Just wondering, im about to be a named driver on my boss's motor trade policy. Im 18 years old, and is going to add me onto his policy, as i am working for him (selling his cars and incharge of advertising vehicles), he's going to add me on his policy as a named driver, which will allow me to drive any of his vehicles, for business use or SDP. His policy is Fully Comp.

    Im just wondering, as its fully comp, does it mean i can drive ANY other vehicle i want (with car owners permision and his car already being insured on a private policy), does it mean i can drive any other car and be covered third party?

    For example, say i need to drive my uncles car to go somewhere, will i be covered third party on it?

    Thanks for reading, and please, serious responses only, from people who know about Trader Policy's. Thanks.
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    Any car that you drive has to be on the Motor Insurance Database under his motor trade policy. You can't just get in any old car and drive it.
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    Thanks for the prompt response. Okay, how about when i be on my boss's policy, i get him to add my uncles car to the motor trade policy. So i be covered to drive that for work use? For example picking up clients that come and buy the car, and then drop them off home after the deal is done? Thanks once again
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    Yes, you could do that, but just remember that your Uncle will still need his own insurance policy.
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    Yes, he has his own insurance policy on the car. So it will be okay if my boss insures that car on his motor trade policy for me to use for business use? Thank you, i appreciate it.

    If you dont mind me asking, how do you know this info? Cheers
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    Our family business is in the motor trade
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    Cheers mate, also that would mean that i would be covered for SDP use also, on my uncles car too if i insure it through my boss's traders? For example if i get stopped by traffic police with my family, will i still be covered though? What are your exeperiences like? And also the named driver experiences? Cheers
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    if you drove your Uncle's car and pranged it.
    I don't think your boss would be very happy trying to claim on his insurance
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    You may well be able to use it for social, domestic and pleasure, but I'd ask your boss first to double check that your policy covers it. Most policies simply cover anyone who is employed by the policyholder (although in our case we have to specifically name drivers, because planning restrictions mean that we're not allowed to employ anyone)

    (Original post by mphysical)
    if you drove your Uncle's car and pranged it.
    I don't think your boss would be very happy trying to claim on his insurance
    Yeah, make sure your boss knows that you're driving around in your Uncle's car under his insurance
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    Usually these policys will only cover you for business related tasks and will only cover STOCK.
    You can add personal cars onto a trade policy but it'll often bump the premium up.

    It's only really intended for business use e.g test drives, running the stock down to the petrol station, collecting stock. Anything that is in stock longer than 7 days will need to be added to the list of cars on the policy. If you've got it for less than a week so long as it's tested you can move it with trade plates without having to add it to the insurance database. If it's in longer than 7 days usually you just phone up with the reg number or send an email / use the company website.
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    (Original post by JO53PHS)
    You may well be able to use it for social, domestic and pleasure, but I'd ask your boss first to double check that your policy covers it. Most policies simply cover anyone who is employed by the policyholder (although in our case we have to specifically name drivers, because planning restrictions mean that we're not allowed to employ anyone)



    Yeah, make sure your boss knows that you're driving around in your Uncle's car under his insurance

    Hello, yes, his policy requires him to name the drivers etc, and it comes up on the policy certificate that who are the drivers covered on his policy and who are allowed to drive his cars.

    So basically, after i am covered on his policy, means that i am allowed to drive any car that is on his motor trade policy? So if i give him the reg of my uncles car, as i will be using it to pick up clients, take them to the showroom, after deal is done, i drop them home. Then go and deliver the car. After i give him the reg of my uncles car and he registers it on the MID via his policy. That means i can drive it with the owners permision and i will be covered? Thanks again brother
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    For named drivers, this will almost certainly be for business purposes only. The policy holder often gets more leeway and can add their own vehicles.

    Don't try to mess the brokers round mind - there's been a lot of abuse of traders policies in recent times and they've cracked down on it something chronic!
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    Well my collegue is on the policy as named driver, and lets him drive SDP too, he's been stopped by police, checked, and gone.

    So basically that'l probably cover me aswell as im going to be on the same policy
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    (Original post by VtecMB3)
    Well my collegue is on the policy as named driver, and lets him drive SDP too, he's been stopped by police, checked, and gone.

    So basically that'l probably cover me aswell as im going to be on the same policy
    Well that's good! I'd double check it with the broker mind, just in case your colleague was lucky...nothing more than having peace of mind. Insurers are a really funny lot.
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    (Original post by fruit_n_veg)
    Well that's good! I'd double check it with the broker mind, just in case your colleague was lucky...nothing more than having peace of mind. Insurers are a really funny lot.
    Yes, its best to be safe than sorry. Thanks for all the advice on here, before i go onto this traders policy with my uncles car il find out if im covered for SDP, and also business use. And will ask for the policy certificate, and the policy booklets and all that.

    Mainly i want to be absolutely sure that im covered for SDP, cause i might need to borrow uncles car for emergency's.

    Thanks for all the advice on this thread. Cheers.
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    (Original post by VtecMB3)
    Well my collegue is on the policy as named driver, and lets him drive SDP too, he's been stopped by police, checked, and gone.

    So basically that'l probably cover me aswell as im going to be on the same policy
    Never drive anything on a "probably" basis.
    Get the fact before you pick up the keys unless you're not fussed about losing your license.
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    (Original post by JC.)
    Never drive anything on a "probably" basis.
    Get the fact before you pick up the keys unless you're not fussed about losing your license.
    Isn't it 6 Points for no insurance? That'd bump up the price of the trader policy by a fair bit

    And completely agree, wouldn't the OP be best asking the Employer and their Insurer though, and be needing Trade Plates?
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    (Original post by IndyAM)
    Isn't it 6 Points for no insurance? That'd bump up the price of the trader policy by a fair bit

    And completely agree, wouldn't the OP be best asking the Employer and their Insurer though, and be needing Trade Plates?
    Thats what im going to do, im seeing him tomorow so obviously im going to ask him and be on the blower to the insurance comp to see what im covered for. Obviously im not just going to jump in a car and drive cause of some advice on TSR now am i. I just wanted some brief information on someone who knows about traders insurance and all that.
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    (Original post by JC.)
    Never drive anything on a "probably" basis.
    Get the fact before you pick up the keys unless you're not fussed about losing your license.
    Im only going to start driving it, after i find out and be 110% certain and verified by the insurance company that il be insured. Not just on a 'probably' basis, this is a forum, not an insurance certificate
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    (Original post by IndyAM)
    Isn't it 6 Points for no insurance? That'd bump up the price of the trader policy by a fair bit

    And completely agree, wouldn't the OP be best asking the Employer and their Insurer though, and be needing Trade Plates?
    You wont get a traders policy if you've got 6 points for no insurance.
    Much more than two issues on your licence with a code starting "SP" and you've got big problems. Trade policys are very strict on what you can and can't do.
    Some traders policys can restrict the driver in various ways i.e cannot drive a car over 2.0 litres if under 21, but can sit in for a test drive with a punter.

    Trade plates are a seperate issue all together.
    If a car has tax on it, it is illegal to display a trade plate and there's a risk of them being confiscated.
    Trade plates are ONLY to be used as a means of driving a car on the road which has a valid MOT, is being driven on a trade insurance policy, but does NOT have a valid tax disk.

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Updated: June 21, 2012
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