UNDER 25 TRADE POLICY

[moabbas 1]

Evening guys, 

I am currently 24 years old and would love to set up on my own, I have been working at an independent dealership as a Team Leader for the past 4 years. Can anyone please shed any light on what they are paying for a trade policy or know what friends have paid in a similar circumstance. 
 

Appreciate it! 

[Casper 272]

Try think insurance mate there very helpful 

[moabbas 1]

7 minutes ago, Casper said:

Try think insurance mate there very helpful 

Thanks will do! 

[New year revolutions...... 197]

15 minutes ago, Casper said:

Try think insurance mate there very helpful 

What no inquisition or nuthing first?

Straight to the answer

[Casper 272]

19 minutes ago, New year revolutions...... said:

What no inquisition or nuthing first?

Straight to the answer

[JA Trader 58]

11 hours ago, Casper said:

Try think insurance mate there very helpful 

Think where very helpful for me as well.

Couldn't get me anywhere close i needed to be price wise but a genuine company.

[David Horgan 564]

I'm guessing 5k , ouch .

Put some older people on the policy with you , helps quite a lot .

[JA Trader 58]

4 minutes ago, David Horgan said:

I'm guessing 5k , ouch .

Put some older people on the policy with you , helps quite a lot .

9k. With a 51 Year old and a 48 Year old then as well.

Im only 20 but clean license and driving 3 years.

Most companies saying no till 23

Going to end up going with unaccompanied test drives and buying a truck so i can move cars about.

[David Horgan 564]

9k bloody hell , be cheaper to pay the fine .

My sons 29 now but when he was 19 we paid £1,911.00 for no restriction on engine size or price for trade and social  , motorcycle business and social inc 

That was for me the wife and my son .

Also inc public liability , tools , stock and 3 sets of trade plates 

My 32 year old daughter is on with us now and 10 yrs later its 3k which i still moan about when June comes . 

20 year old and wanting to get on in life but insurance is hampering you , that is terrible , what a stupid system we have , pay people to have kids and stay at home like slobs but you want to get on in life and have to pay through the nose for the privilege of trying to earn money .  

[JA Trader 58]

10 minutes ago, David Horgan said:

9k bloody hell , be cheaper to pay the fine .

My sons 29 now but when he was 19 we paid £1,911.00 for no restriction on engine size or price for trade and social  , motorcycle business and social inc 

That was for me the wife and my son .

Also inc public liability , tools , stock and 3 sets of trade plates 

My 32 year old daughter is on with us now and 10 yrs later its 3k which i still moan about when June comes . 

20 year old and wanting to get on in life but insurance is hampering you , that is terrible , what a stupid system we have , pay people to have kids and stay at home like slobs but you want to get on in life and have to pay through the nose for the privilege of trying to earn money .  

Dont even get me started......

I have been pushing my luck for long enough. Luckily dad does a lot of the collections and stuff and we do have a trailer which i can use.

I dont think my area or being a doorstepper helps either. Still waiting on a call back from 3 days ago from 2 brokers so not holding out much hope.

Currently looking into renting a unit as it looks like it might be cheaper to have a unit on the books and insurance through there instead.

[Halfpenny 114]

14 minutes ago, David Horgan said:

 

20 year old and wanting to get on in life but insurance is hampering you , that is terrible , what a stupid system we have , pay people to have kids and stay at home like slobs but you want to get on in life and have to pay through the nose for the privilege of trying to earn money .  

Typical UK.  Work within the system and do everything properly and you get screwed. Lie, cheat and break the law and there are generally few consequences. Mate of mine had a cat stolen off a vehicle on his forecourt. Had full colour CCTV and a reg. no. for the police but they told him 'no resources to follow up'.  But you put a wheel in a bus lane and its instant £100 fine.  My insurance has doubled in the last three years despite us making no claims and having excellent security. I'm told its because more claims have been made in our area.....

After almost 60 years I've had it with the UK.  I'm semi-retired and spend half the year overseas - soon to increase to 9 months +.  I walk around the city where I lived for most of my life and the residents who now live there look at me like 'what are you doing here'. 

[Premier Insurance 2]

It's all about how you set your business up, if you speak to a good broker before you set the business up, you may be able to save a fortune. The statement about having a second driver is true, but to have any great success the driver needs to be an older driver with an existing motor trade policy and bonus. Insurance brokers generally will not be blunt about the differences between insurers because at the end of the day we all sell policies from various different insurers, in the same way you may sell an Audi, VW or a Seat, the difference can be vast for a similar product. A combined motor trade policy normally provides a better road risks policy than a stand alone road risks policy, road risks policies tend to have a maximum single vehicle value, many exclude sports and performance vehicles, vintage or three wheeled. Some road risks policies not only exclude cover for vehicles parked at motor trade premises they exclude cover for vehicles parked at drivers homes. We have clients paying less than £1,000 for motor trade road risk policies because they want a cheap way to trade, but like every other cheap road risks policy the cover is limited; insurers offering these cheap policies only want certain clients and they will not cover young drivers without motor trade bonus. Advice to speak to a specialist provided by others on this forum is good, dont phone lots if you want a combined policy it's like a mortgage the more people you have involved the less likely you are to get a good deal.