Trader Insurance Policys?

[Jimxms]

Hi guys,

I've seen a few people get shot down for mentioning taking these out when they aren't 'traders' as such, so I'm hoping that I wont end up with the same fate asking this question...

But basically I want to know if they are specifically for people in the motor trade, or whether the rules can be bent a bit? I myself am a company owner, the company has been established for almost 6 years now and I use the IS300 occasionally for visiting clients etc.

However, the company doesn't really have anything specific to do with cars - more electronics in general, so I couldn't look anyone in the eye and say that I needed blanket insurance for several cars because of my job.

The reason I'm asking is because my old man is selling his Celica GT4, and I'd love to take it under my wing. But with insurance the way it is, it'd be much too high for me justify.

[autogloss valeting]

That to me would be acceptable for a trade policy as it will be taken out in a business name, several cars registered, and im presuming 2+ drivers?

Get in touch with A-plan insurance - they are the broker I use, and my policy is with QBE

HTH

Cheers

Mike

[Jimxms]

If 2+ drivers is what it would take I could always add the Mrs on there as she is the company accountant?

Cheers for the info Mike, I shall give them a call and see what kind of deal they can offer.

[autogloss valeting]

You dont have to have 2 people on - i dont :)

cheers

Mike

[mattc]

My mate has a trade policy with him and his missus on.

He is not trader but does like cahnging his car alot so saves him the hassle of changing insurance all the time and saves him money. He does ahve 3 cars at the mo though

[TigerFish]

I would assume that the company would have to pay the premiums though, and that if you get to use the cars privately, it would become a declareable tax benefit to individuals and have income tax implications? Or would that not be the case? The inland revenue always seem to have a way of stitching you up at every turn.