bangna63 5 Posted January 1, 2015 Newbie here so bear with me, hope these are not stupid questions: I have a fully comp policy on my own car that allows me to drive other cars with 3rd party cover. But it states ''cars not owned by me''. Therefore if I bought a car at an auction or anywhere else then how do I get it home safely or drive it in the interim period before it is sold, I presume by this stage I own this car? Temporary insurance (very expensive)? How do I cover a situation of a potential customer wanting to do a test drive? I presume, assuming he has a fully comp policy on another car, he is covered 3rd party on the car he is considering buying? But if he does not or does not currently own a vehicle, what is the situation? Are there catch-all dealer policies specially designed for these scenarios? This whole issue is a minefield in UK whereas in other countries the car is insured regardless of driver, end of issue. 1 Share this post Link to post Share on other sites
bangna63 5 Posted January 2, 2015 Andy, thanks, I suspected this would be the required route. I had a search around and was pleasantly surprised at how flexible and adaptive these policies can be depending on your circumstances and how big a dealer you are. I am just starting out and not in it full time yet but still found some interesting policies which did not over-insure the situation. One Sure Insurance was a good company for example. Share this post Link to post Share on other sites
jimreidvehicle 255 Posted January 2, 2015 Hi Tony Best route is most likely a Road Risk Trade Policy but believe you may need to prove that you are a dealer or Vat registered have a trading licence etc Jim Share this post Link to post Share on other sites
Wheelerdealer1 91 Posted January 2, 2015 Well it's not cheap or easy to set up as a legitimate trader and insurance will be one of your biggest costs, but nessesary Share this post Link to post Share on other sites
It's me 615 Posted January 2, 2015 Be careful stepping into trade road risk only as many wont even insure your own vehicle so you can end up with 2 policies and very poor cover,read the small print on everything before committing,be extra careful of signing up over the phone as these companies are the worse. As said you need trade insurance or a simple accident could cause you big,gone are the days of ducking and diving your way through with even something as simple as daily insurance,sorry 1 Share this post Link to post Share on other sites
bangna63 5 Posted January 3, 2015 s and b, good points and well taken. I am coming back into this many years since I last did it, and the insurance, trading standards, documentation etc has certainly tightened everything up but probably no bad thing overall. I will do my research before diving in too deep and making costly mistakes. 1 Share this post Link to post Share on other sites
Andy Entwistle 96 Posted January 6, 2015 Hi Bagna63. Have a look in the mag, we have a few trade insurance companies advertising, they will be able to help talk through what cover is best for you and give you a quote. Remember to tell em Car Dealer mag sent ya ! Share this post Link to post Share on other sites
