DSF

Insurance renewal time.
Full time working from home, internet sales, and shows. Nothing unusual in that lot. Hence a "Home working policy"
I like to get a good deal (don't we all) but also make sure I am covered belts and braces.


Received a quote from my broker that was just under half of my existing insurer and this was with NIG, so I am interested. Then discover that NIG will not cover a business that trades on Ebay or Amazon, your own website yes. So no good to me as I use Ebay as well as my own site. Now this came to light courtesy of my broker ringing NIG to check as to why they were cheap. It would appear it is something to do with Ebay and Amazons returns / liability policies.

So looks like I may stay with Aegis for cover (includes public liability, employers liability, legal cover etc) £210 per year.

Part 2
Vehicles
Now until this year I have run a car sales business from a site, hence insured to drive anything fully comp for myself and Mrs J and anybody else to drive with our permission (belts and braces) cost, public liability etc £1700 per year. Now that I will be closing the car sales business and just running a Van and a Micra diesel, imagine my horror to get a quote of £1700! I see some work to be done here. The broker is on the case know to see what they can do, but have said it may take a couple of days. So I wait. It appears the maximum no claims on a motor trade policy is not always transferrable. How rediculous.

Janners

janners - if no one has claimed on a MTP then you will be able to have no claims, as they can show there was no claim made from your company to theirs, but if there was a claim made by anyone on the policy then they will not issue it. ours is a little under 3k as its motorbikes and not cars, although that includes the van stock, bikes, ride and drive anything up to 7.5 tonne and no limit on bike size (although i tend to let mark ride the bigger ones lol)

No claims made and some companies will accept the no claims. Apparently as a Motor Trader I was regarded as very low risk as we drive our profit, literally. it just appears odd to decrease the value of stock by a massive amount, decrease the number of drivers, take off a car transporter etc and come back with the same sort of figure.
I shall see what the broker comes back with.

Janners

janner, you are now entering the world of std insurance policies, thats why i am still on marks works policy, the van, car bikes and trike would cost me a fortune to insure - of course the real downside is if you ever d have an accident you only get paid out trade on the damage to your own vehicle. we moved policies, and were told that the insurance would check the claims database and take their evidence of our clean record from them ??

It does indeed appear that one of the very few perks of the Motor Trade is sensible insurance. My original (exisiting) company actually said thier problem was I could have a fleet of 10 vans for the same cost. There was a minimum policy fee and that was that. Whole new world to me!

When you consider I also had workshop ramps insured, plus tools etc, if it wasn't for the fact I had to hold a stock book to prove turnover (and then back into VAT), I would have kept the Motor Trade Policy.

Next Monday I deliver my Trade Plates back to DVLA after 27 years. Glad to be out of it though, cars are getting too complicated.

Janners

OK things are coming down combined business insurance and comercial cover for the van and the car now at £1340. So that appears to be what I will be paying.

Now how many people on here are insured (properly) I wonder?

Janners

Initial quotes for combined where £3750 .... I guess they were just joking!

In reply to JMugs - Yes. Insurance companies are well known for their sense of humour! I use Hiscox because of their good reputation. However, I will check with Federation of Small Businesses when renewal due.

Hi Zipdorf
FSB is a good port of call, I couldn't get a decent quote through their brokers, but they did explain that it was due to the change over from Motor Trader to commercial and transfer of no claims from etc... but suggest next year coming back to them. I appreciated the upfront "we will not be competitive this year" statement.

Janners