Having spent a lot of time recently wrangling with insurance companies about a theft claim, subsequent NCD, new policies and a new van, I went in another direction. I became a motor trader and bought motor trader insurance. It took an hour to set up, but the questions related much more to what I actually have (multiple bikes) and didn’t fuss about age of bikes, mileages, approved immobilisers, trackers and locks. I can do the inventory management on line myself. I now reckon I am better insured for theft, transport, road riding and testing and taking stuff abroad. Let’s see how it goes.
It’s two actual policies. One for the van and bikes on the road with Axa and one for the “inventory” at my “premises”.
I was required to provide proof of trading, bank statements and my VAT number(if applicable). Be careful you don't become unstuck come claim time, as I assume they'll want a paper trail of your trading as the entity you claim you are when you took out the policy.
Yes, thank you, aware of this point so have to produce a recent transaction invoice (my van) and some evidence of further activity. For me this is a trial run. It might motivate me to sell a bike instead of just accumulating
I made it quite clear I am part-time and at the beginning, so expectations should be very low. I will be selling the 2023 V4 track bike at the end of the season though to make room for a 998RS. Any takers let me know.
Bear in mind as a trade policy, should the worse happen with any of your own vehicles, they will only usually pay out at trade value regardless of what you think they’re worth. My broker warned me of this years ago and if you have anything of value, insure it separately.
It doesn't matter what you tell them when you take out the policy, it is your responsibility to read the policy provided and tell them if anything is not correct or not as requested. Having provided you with the policy after your discussion they are the ones with the paper trail, and there will be a clause saying that you only have a certain amount of time to inform them if it's incorrect.
