Think Insurance is an Insurance Intermediary that specialises in Motor Trade Insurance for full and part timers. As such we have noticed that there are a lot of myths when it comes to convictions.  We will try to give a clearer picture as to how these can affect your  policy.

Motoring Convictions :

Most minor motoring convections – for example an SP30 which is the most common speeding offence – will remain as rateable by the DVLA for 3 years from the date of conviction or date of offence if it is dealt with by fixed penalty.  The conviction has to remain on your driving licence for 4 years, at which point you may return your licence to the DVLA to have this removed.  The problem for you, the customer, is that you actually have to disclose these to your insurance company for 5 years!  So in effect, you could have a clean licence but still have a conviction which should be disclosed to your insurers.

There are some more serious convictions which have to be disclosed for longer periods – for example a DR10 conviction for Drink driving remains on your driving licence for 11 years – whereas again there is a discrepancy as most insurance companies will only rate on this for 5 Years.

Another myth that Think Insurance has come across is customer’s belief that once they have received a ban for totting up, known as a TT99, their  licence is clean again.  The TT99 is for a number of offences totalling 12 penalty points, or more, at which point you would be banned from driving for normally 6 months.  This does not in fact clear your licence but the convictions leading to the totting up are all replaced by the new code TT99 – which does have to be disclosed to your insurers and will remain on your driving licence for a period of 4 years from the conviction date (again most insurers will require disclosure for 5yrs).

In summary, if you’re not sure if something is valid it is better to be honest with your insurer or broker rather than find out when it’s too late after a claim occurs.  Most insurers take a very dim view when a customer non discloses any motoring conviction – and this will generally  result in at least an additional premium. In some cases however it may result in Voidance of the policy from inception and that would mean your insurance would be treated as if there was never any in place.

Criminal Convictions :

Most customers don’t realise that criminal convictions are relevant when applying for insurance – some insurers do ask the question in their proposal form when you are applying for insurers while others don’t.  A question that all insurance companies abide by  is whether there are any relevant material facts.  Material facts are anything the insurer would deem to have a bearing on your risk and which therefore could influence the level of premium imposed, or  indeed whether the insurer was prepared to accept you as a client.  One case would be a criminal conviction even if it is not asked for specifically.

Criminal convictions should be disclosed in line with the Rehabilitation of Offenders Act – but as a rough guide any criminal conviction with a prison sentence of 6 months or should be disclosed for 7 years and sentences of more than 6 months are to be disclosed for 10 years.

For any further information regarding motor trade insurance or any other forms of cover give us a call.

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Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

So what motor trade insurance can you have? What types of covers are on offer from Think Insurance?

Third Party Only – This covers you on any stock, customer or own vehicles that you can drive for the designated use. It covers any damage done to the Third Party if it is your fault but does not unfortunately cover your own damage. For example if you hit someone from behind, their vehicle is covered but not your own. Similarly you have no cover for vandalism, fire, theft or malicious damage at this level. This insurance is normally the cheapest and offers a cost effective but riskier cover.

Third Party Fire and Theft – This is very similar to the Third Party Only cover, however you do also get cover for any damage to your vehicle (or customer’s) caused by fire, or if your vehicle is stolen.

Comprehensive – This is the cover which is the most expensive, but it does insure you for the most cover. This is different to the previous two covers: Comprehensive insurance covers damage to your vehicle even in the event that the damage was caused by your own fault (or someone else’s fault when you can’t claim off them). This can be in an accident – eg . running into the back of someone or just having a single vehicle accident. It also covers you for theft, fire and unlike other covers, malicious damage. The misconception of this cover is that you can also drive cars not on your policy for social use cover, this is not true. You may drive your own vehicles for social and trade use – but you may only drive another person’s vehicle for trade use – eg taking a customer’s vehicle for an MOT etc

Overall you need to weigh up the risk you are comfortable with  and what is feasible for your needs. If it is a policy where you are only driving your own cheap cars  it may be silly to insure yourself comprehensively and reduce the amount of profit available. Similarly if you need to drive customer’s cars it may be better to pay more and receive better cover. The choice for people in the trade is ultimately down to you – but remember if in doubt it is always best to contact a knowledgeable, specialist broker for advise on your motor trade insurance policy.

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Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

When it comes to insuring a so called ‘supercar’, there can be a few grey areas regarding their classification and whether or not you can be covered for them on your regular traders policy. We have given you a brief overview of some of the basic information to take note of if you are looking to get a supercar added onto your cover.

Can you get covered for supercars on a motor trader insurance policy?

Most people would expect the answer to be a straight forward NO, but actually, depending on the insurer, you can sell super cars for a reasonable additional premium or sometimes you may even be able to do so at no extra cost!

Can I have a supercar for my own private car?

The answer is the same – yes (subject to the right insurer), you can have a supercar as your own personal car but there will be an additional charge to do so. Again it does depend on finding the right company that will allow you to do so.

What cars are classed as supercars?

Here is a list of what is generally classed as a supercar:

Bentley

Lotus

Porsche

Rolls Royce

Ferrari

Lamborghini

Bugatti

Aston Martin

Maserati

A C Cobra

TVR

(always check if in doubt as insurer’s lists vary – eg a Jaguar XJ220 would surely be a supercar!)

Depending on the insurance company you will be allowed differing levels of interaction and cover with Supercars.

Some policies allow the sale and repair of super cars but will not cover you to drive your own e.g. for social purposes. Some will allow you to drive, keep, sell, fix or wash supercars for no extra charge. On the other hand, others will not give cover in any shape or form at this level and would cancel the policy immediately if they thought they were covering such vehicles! Then again you may find a company that will judge your risk on an individual merit basis – i.e. have you any experience driving these vehicles and are you willing to pay a higher premium for the cover.

Remember the cheapest quote is not always the best quote and usually there is a reason why they are cheaper i.e. restrictions to vehicles and numbers of private and stock vehicles.

It is important that you always check with your broker when sourcing a motor trade insurance policy.

Think Insurance – Quality, Service & Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Recent reports from the Society of Motor Manufacturers and Traders (SMMT) suggest that sales of new cars in 2010 will be up on the same figures from 2009. This is despite a reduction in the number of new registrations in September to around 335,000, a reduction of almost 9% compared to the same month last year. It is thought the previous government’s scrappage scheme, which saw the cost of new vehicles reduced by up to £2,000 if the buyer traded in their old vehicles, was a particularly successful way of increasing sales. The scheme came to a close at the end of March.

On the back of these figures the SMMT have called for a strong agenda to help boost growth and consumer confidence, even in the face of the government’s upcoming spending review. It is thought there may be some buyers who decide to purchase a new vehicle in the final few months of the year rather than waiting until 2011 in order to avoid the rise in VAT to 20%. This could be positive news, and could help improve on the September results, which were the second lowest for the month since 1999.

Many will hope the increase in VAT will spur people into purchasing a new vehicle before the start of 2011, as consumers are still wary of the turbulent economy, with higher levels of unemployment and increased costs of living still prevailing.

Think Insurance – Quality, Service and Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Nissan, the giant Japanese motor vehicle manufacturer, has been forced to issue a vehicle recall for 2.1 million vehicles worldwide. The recall has been attributed to an ignition problem. This problem is thought to lead the engine to stall, but there have so far been no accidents reported as a direct result. The majority of vehicles recalled have been in Japan and North America – with 762,000 from America & Canada and 834,759 from Nissan’s home country.

Nissan dealers are bracing themselves for a huge influx of purchasers returning their vehicles for a safety check – which should only last approximately 20 minutes. Owners of Nissan vehicles that require attention will be contacted by Nissan for the work to be carried out. The company will replace the defective parts for free on all affected vehicles. The list of vehicles that may require attention include the Infinity and Micra – models which were manufactured at Nissan’s Sunderland plant from January 2004 until March 2006. All in all a total of nine models worldwide will be recalled.

This is the second recall for Nissan in a short space of time – approximately 76,000 Nissan cars in Japan were recalled earlier this year and a further 2,000 vehicles worldwide for an engine failure defect. Although an embarrassment to Nissan the company has intimated that worldwide sales have not suffered badly. Motor trade experts have speculated that although a lesser brand may have been ruined by such a recall Nissan on the other hand has the reputation and brand to withstand such an onslaught.

Whatever happens to the company’s sales in the near term it’s probably a safe bet that the people at the very top of Nissan have a lot to think about if they want to maintain their position as a global heavyweight.

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

If you’re in the industry then there’s a high probability you’ll need a Motor Trader Insurance policy. These types of policy are fairly easy to come by and most speciality brokers can offer you a range of covers. But did you know there is a world of difference between the level of cover given by different companies? Here are just  three of the companies we have access to (please see the rest of our website for details of our other insurance partners)  and as you can see we only use the most respected and competent market leaders at Think Insurance.

Chaucer Insurance Company Ltd  – A dedicated Lloyd’s syndicate with the experience and commercial clout to be able to deliver a first class service for both it’s brokers and the client. Offering a range of policies from Road Risks only to a  Combined including stock of vehicles, liabilities, tools, carriage of vehicles, windscreen cover, motorbikes and more.

Tradewise Insurance Services Ltd – A specialist insurance company that is definitely in the top tier when it comes to Road Risk policies. With a flexible underwriting criteria Tradewise will insure most straight forward risks for extremely competitive rates. They can include demonstration cover, stock of vehicles and bikes.

QBE European Operations – One of the top 25 insurers worldwide this company really knows it’s stuff. They offer a high level of cover with low minimum premiums for the safer client. Whether it’s a split indemnity policy, or even a tailor made combined policy, QBE have the experience to quote.

So, the question should be – what company do you want to be insured with? A respected, national with experience or someone you have never heard of? For peace of mind with your Motor Trade Insurance policy call Think Insurance today.

Think Insurance – Quality, Service & Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.

Think Insurance is a motor trade insurance intermediary who specialise in insurance for HGV Mechanics.  As a HGV Mechanic you could be called upon in many situations, from a mechanical breakdown to a routine 6 week check up – so we know that you need cheap reliable cover. So what do we offer you?

Our policies can cover you for all of your own vehicles, including your personal cars and vans.  On top of this you will also be covered to drive your customers vehicles, including HGV, whether this is for fault finding or any other motor trade associated use.  We have a large panel of insurance companies available and have very favourable rates for HGV mechanics so you know our price will be competitive.  The insurers we use when quoting for HGV Mechanics believe that your particular line of business within the trade is one of the most professional and conscientious in the industry – hence we can secure the discounts needed to keep your business year on year.

Obviously we couldn’t go through all the ins and outs of Heavy Goods Vehicle insurance in this small article and that’s why we offer free help and advice through our website and skilled phone operators.

So, if you need a motor trade insurance policy to cover you for your HGV mechanic/servicing/sales business make sure you contact the right broker who has access to specialist insurance companies.

Think Insurance – Quality, Service & Price

Think Insurance can provide you with a cheap insurance quote today, whether you are looking for a motor trade, home, taxi or commercial insurance policy, leave your details and we will contact you.