Whats a traders policy?

Like in respect to car insurance?

In the United Kingdom

A 'Motor Trade Road Risks' Insurance policy is one that allows you to drive virtually any vehicle BUT note the word 'virtually'.

The usual definition is "Any motor vehicle the property of the policyholder or in their custody or control for motor trade purposes" Thus your own vehicles are covered and any vehicle you are road testing, for instance, is covered. The policy does NOT mean that you can drive friend's cars for pleasure. Also some vehicles may be forbidden driving for pleasure use. (e.g. American). As this is a road-risks policy you would also need a property policy to cover the vehicles if they were stored e.g. in a garage, for repair.

In order to have this sort of policy you must be a motor trader (full/ part time) and operate it as a business i.e. keep records and submit accounts. It is NOT aimed for people to insure a large number of high performance vehicles.

As well as motor traders there are also people who may have other needs to drive cars e.g. jockeys/ valeters, but who do not buy and sell vehicles. They can also have a motor trade policy.

The cover under a Motor trade policy is usually substantially worse than a Comprehensive motor policy.

if you buy and sell cars or repair ie mechanic then you will need some sort of insurance to cover you for driving the vehicle
also this covers your own vehicles you own some cover you to own 4-5 vehicles with a limited value of 拢7000
this covers part time or full time and if you have premises or work from home

hope that helps

Motor Trade insurance for motor traders. Unless you work in the motor trade buying & selling cars as a business, then this cover is not for you.