How old do you have to be to be on a traders policy?

To obtain a Traders insurance under 25 policy through Think Insurance you must be over the age of 23 if you are the main motor trader on the policy. If you own a motor trade business and would like to add an employee onto your Traders insurance policy then they must be above the age of 21.

Can you get traders insurance at 20?

Although under 25s may struggle to be accepted onto a policy, select insurers offer policies that are tailored towards the needs of young motorists working in the motor trade industry.

Can anyone get a traders policy?

To be eligible for a motor trader policy, you must provide proof that you operate within the motor trade industry. So, if you run a business that is related to either cars, vans or motorbikes and involves servicing or even selling vehicles, you would qualify for a motor trader policy.

What does a motor traders policy cover?

Motor trade insurance covers businesses to work on and drive their customers’ vehicle and vehicles the company owns. That cover may extend to just the business owner, certain members of the team or everyone who works for the business.

Can I drive my own car on a traders policy?

The short answer to the question, can I drive a car on traders insurance, is no. Unless you have a motor trade business, you will not qualify for a traders insurance and cannot drive vehicles that are not registered in your name. However, having a traders insurance is not the same as your personal car insurance.

Does direct line do motor trade insurance?

Direct Motor Trade Insurance currently offers insurance and risk management solutions to over 2000 garages in the UK. We provide exceptionally high levels of technical advice and customer service.

Can a 21 year old get traders insurance?

If you’re 21 or younger, motor trade insurance is not generally available. If you’re 21-23 years old, you can sometimes be accepted for motor trade insurance if you work in servicing or repairing vehicles. You will not be able to get a policy to buy and sell vehicles in the trade.

Can a 19 year old get trade insurance?

Running a business from your own premises or from home. If you are self employed or employ others, there is a form of trade insurance cover available to you if you are 17, 18, 19 or 20 years old.

Do trade plates cover tax?

If you’re a motor trader or vehicle tester, trade licence plates allow you to carry out your business without registering and taxing every vehicle temporarily in your possession. All vehicles must be covered by insurance and have a valid MoT in place, unless they are exempt from MoT requirements.

How does a trader’s policy work?

Traders insurance is a broad term used to combine several single covers together. However, if you go by the legal definition, traders insurance is just a third party road risk cover. It covers the named driver in the policy against any third party damage to public property or the public.

Do traders have to tax cars?

Trade plates should be used if the vehicle is used on the road for test drives, delivery etc. There is no requirement for a dealer to tax a vehicle in their stock unless they want to use it for example as a staff car.

Can Motor Trader drive without tax?

As far as vehicle tax goes, you can drive vehicles without tax providing that you have valid trade plates.

Do you need under 25 motor trade insurance?

IMPORTANT NOTE: To consider you for under 25 motor trade insurance we will require: Minimum 3 years history as a motor trader. A Motor Trade Insurance policy covers a number of activities such as servicing, restoring and repairing vehicles, running a garage and doing MOT’s all of which have an element of risk.

Why is motor trade insurance expensive for young drivers?

Statistically, younger drivers are more likely to be involved in accidents on the road. That’s why motor trade insurance is often more expensive for young and inexperienced drivers, especially those under 25. On a motor trade insurance policy, you have responsibility for customer vehicles when left in your custody.

How old do you have to be to get under 25 car insurance?

Firstly, to take out or be added to a Motor Trade Insurance Under 25 policy you must have held either a full UK or European driving license for at least 12 months. Therefore, someone must be at least 18 years of age before they can apply for this type of insurance.

Are there any restrictions on driving a car under 25?

The other restrictions imposed for under 25’s are related to the performance of the vehicles that could potentially be driven. For example, the insurance company could limit someone under 21 to driving a car with an engine capacity not exceeding 2,000 cc and also not allow a turbo-charged vehicle to be driven.