Is Trade Insurance worth it or expensive?

[Barnz74]

I've got a quote from Sky Insurance for insuring my daily driver (MR2) and my track car (EP82).
I was then thinking if I do swap cars quite a lot and trade a couple - buy/sell maybe 5 a year, should I go for trade insurance?
What are the pitfalls and do you have to trade a few or register a company with Companies House to get trade insurance?
Anyone got trade insurance and wouldn't go back?

 

[Paul_JJ]

It's good to have but will cost you a few grand -)

 

[Jay]

I've had it for a few years via a local broker, wouldn't change it for the world. So handy to jump between motors without worry.

Only down side is the cops rarely believe you. Also make sure it covers imports and modifications. There is a minefield of silly exclusions in the small print of some policies so be careful.

Jay

 

[weeJohn]

I got it the last 2 years, as Jay says, good to know your mods are covered without having to go through them all every year.

The biggest pitfall I have heard that comes with it is you do not build up an no claims bonus with it, so when you decide not to take it you may well have to work with a new broker to get a discount from a "normal" policy.

 

[Phil]

I've had it for a few years via a local broker, wouldn't change it for the world. So handy to jump between motors without worry.

Only down side is the cops rarely believe you. Also make sure it covers imports and modifications. There is a minefield of silly exclusions in the small print of some policies so be careful.

Jay

I got it the last 2 years, as Jay says, good to know your mods are covered without having to go through them all every year.

The biggest pitfall I have heard that comes with it is you do not build up an no claims bonus with it, so when you decide not to take it you may well have to work with a new broker to get a discount from a "normal" policy.

What are you guys paying roughly if you dont saying>? pm if you'd prefer.

would be useful to cover my GT and daily without starting to overly worry about Mods.


Phil