Think Insurance is an independent insurance broker specialising in motor trade insurance and also providing a variety of other policies including home commercial taxi and tradesman insurance.

Motor Trade Insurance FAQ s

Typical FAQ's about motor trade insurance answered by Think Insurance: How long do I get to update the Motor Insurance Directory (MID)?: Any vehicle being used on the road by a trader must be on the MID within 14 days. Please be aware that it can take up to 48hrs to update so the general rule of thumb is to let your company know if you are keeping the vehicle over 10 days - Better to be safe than to have the vehicle seized! What is Indemnity?:The indemnity level on a policy is basically the maximum amount your insurance company will pay out in the event of anyone claim. That doesn't mean that if you hit a Ferrari they may ask you to pay! The third party will still be paid regardless of your indemnity, it's only when there's nobody else to claim off that your indemnity level may kick in. What is the minimum age for a Trader?:There is no actual minimum age, however, the younger you are the higher the price will be. Generally, anyone under the age of 24 is going to be paying a lot - (although we can still offer very competitive premiums for this age group). What is an appropriate excess for a Trader?: Most trade insurance policies have a 250xs to begin with. This can generally be raised to then further reduce your premium. Some policies have larger xs's and many will give you a 10% xs whereby you are liable for 10% of the claim value. Your broker can be of help here. Will I be charged for adding/removing vehicles?:The answer is no. Whilst some companies will charge you, all policies we sell include this facility for free. You can update the MID by email, text, or an internet website, depending on which policy you buy. How many vehicles can I add?:All of the policies we sell have no maximum limit on how many vehicles you can add subject to the usual terms and conditions. Can I trade part-time?:Of course. Many people are now looking to the trade for a supplemental or weekend income. These motor trade insurance policies can be very reasonable - sometimes even cheaper than a private car policy!

Specialist Services

Motor Trade Insurance specialist