subject: Extra Considerations for Your Motor Trade Insurance [print this page] Extra Considerations for Your Motor Trade Insurance
When you take out any form of motor trade insurance policy, it is important that you know exactly what you are and are not covered for. You will generally find that all policies will have certain exclusions in regards to the usage or type of vehicle that you are covering. We have therefore tried to highlight a few of the most common things that may be restricted under your policy that you may not have previously known about.
Number of Seats.
With most policies available on the market today, you will find that there will be an upper limit on the seating capacity of vehicles that they will cover you for. You don't want to take out a traders policy with the intention of driving a 16 seater around only to then find out when you have an accident that you were not covered for it. It is therefore important that you find out beforehand whether there is a restriction on the policy.
Sports/Performance Cars.
You are unlikely to find any problems if you are looking to cover the more basic sportier cars, if your car is just a GTI then that should be fine with most providers. The problems can start when the cars get more powerful or get stereotyped. For example, you may find that some companies will only cover a limited size of engine or they may be wary of insuring cars typically linked with boy racers' such as a Mitsubishi Lancer Evolution.
Modified Cars.
This is another area where you need to check with your insurance provider. You may well find that you have no problems at all with getting modified or kit cars covered with your traders policy. On the other hand though, some companies will steadfastly refuse to include them on their cover so make sure you ask before it is too late.
Classic Cars.
You should not really have any problems actually getting a classic car covered under your policy. The problems only arise in the event of an accident as most insurance providers will not pay out the actual value of older cars.
Vehicle Tonnage.
Some policies may not provide any cover at all for your commercial vehicles while others may impose limits to the maximum weight that you are allowed. It is therefore important to again check with them before you drive any larger vehicles.
The above information should give you a bit more of an insight when you take out a motor trade insurance policy. Just make sure that you always remember to double check everything with your provider beforehand as you don't want to leave it till after the accident to find out you weren't insured for the vehicle!
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