OMG insurance

Ted · Post by **Ted** » Wed Apr 25, 2012 11:25 am

i dont do ferraris lol i was just using an example but tradewise, actaully i did change a battery on 1 once same as magnum pi had, what a bag of jobby. and if my mrs sees that c word she will bad rep you when im making coffee

Duo · Post by **Duo** » Wed Apr 25, 2012 11:58 am

Ok then I'll do it.

Shiny you rhubarb

Shiny · Post by **Shiny** » Wed Apr 25, 2012 12:09 pm

You've broken the golden rule, never let the missus see what you are posting!

Tradewise will cover foreign imports, subject to a loading and a higher excess. If you have a Ferrari, Bentley etc that you have owned for a while, they will also cover them subject to a premium load.

You will have a customer vehicle value indemnity limit on your policy, which may be £20k, £30k etc, which is the most they will pay in the event of a claim, so if you have a £20k limit and stack a £120k customer's Ferrari, you will need to find £100k

Tradewise also only provide TPO for modified vehicles unless you specifically get something agreed with them, their policy exclusion reads - "Loss or damage by fire, theft or accidental damage to any vehicle of American/Canadian manufacture, any kit built vehicle, any vehicle that has been customised, modified or supercharged, any Ford Cosworth model. Any vehicle over 25 years old from date of manufacture or any Q-plated vehicle"

Tradewise also exclude any loss of damage to vehicles on parked (within 400yard or half a mile or something) of any unit or business premises.

God i'm good...

Post by **Lude-dude** » Wed Apr 25, 2012 12:18 pm

26 years in a broker, I feel for you dude

only been in the business for 8 and I feel like finding the nearest cliff

but your knowledge is awesome, I dont know half of it yet so sometimes you teach me a thing or two

really they should teach this as a subject in school, its real life jobby

ditch french or something

Ted · Post by **Ted** » Wed Apr 25, 2012 12:20 pm

Shiny wrote:You've broken the golden rule, never let the missus see what you are posting!

Tradewise also exclude any loss of damage to vehicles on parked (within 400yard or half a mile or something) of any unit or business premises.

God i'm good...

yes im covered in the garage and covered driving the vehicle but as you say when its parked outside the garage its customers insurance to pick up the tab should it get stolen or burst into flames etc.
ive had 2 cars hit by lorrys parked outside the garage now luckily for me 1 was the bag o bum droppings which i did very well out of and the other was my fathers car which is subject to a claim as we speak, i no longer park any customers car on the road outside if i can't fit them on my land at the side of the garage i use the rugby club car park opposite me now for a fee but atleast they are safe.

Shiny · Post by **Shiny** » Wed Apr 25, 2012 12:37 pm

tramroadmotors wrote:yes im covered in the garage and covered driving the vehicle but as you say when its parked outside the garage its customers insurance to pick up the tab should it get stolen or burst into flames etc.

I'm sorry to say that you may find that only your own stock of vehicles is covered at the premises and not customer's vehicles. I could be wrong, but i'm sure Tradex don't cover customers vehicles at a unit, either inside or outside.

The other bit of bad new is that whilst they are in your care, the law of Bailment applies. If a customer's car get stolen or burst into flames, whilst their own insurance may pick up the tab initially, they will be knocking on your door to get their money back as you are legally responsible to keep the vehicles from damage whilst in your care.

Sorry...

skinny · Post by **skinny** » Wed Apr 25, 2012 12:51 pm

i have no problem paying for insurance. the only thing that pisses me off is that insurance companies assume that now i've bought a second car, i suddenly have forgotten all of my 9 years of accident free motoring, and i'm completely inexperienced again (but only on that second car

)

Post by **Lude-dude** » Wed Apr 25, 2012 12:57 pm

yes get that all the time, cant use my bonus on a 2nd car.

its their rules basically, I suppose they couldnt bother with any discount

generally you get 2nd car discounts anyway

bennyboy · Post by **bennyboy** » Wed Apr 25, 2012 1:02 pm

Shiny wrote:
The other bit of bad new is that whilst they are in your care, the law of Bailment applies. If a customer's car get stolen or burst into flames, whilst their own insurance may pick up the tab initially, they will be knocking on your door to get their money back as you are legally responsible to keep the vehicles from damage whilst in your care.

Sorry...

I can confirm this.....since a car transport guy recently 'dropped' my Dad's car off the back, bending the door back, writing it off, and running himself over in the process...

Shiny · Post by **Shiny** » Wed Apr 25, 2012 1:03 pm

This is a reason you earn NCB per policy though, if you turn the situation around and have a claim on your second car, you wouldn't be happy if you lost your NCB on your 1st car as a result.

There are quite a few insurers that will recognise the fact you have been driving claim free and allow a decent second car intro, or even "mirror" the NCB, you just need to shop around and find one that does it.