Historically if you wanted motor trade insurance under 25 years old it was never a problem and almost all the insurance companies which offered motor trade insurance would not have had a problem insuring, in fairness, anyone over the age of 21 but over the years things have changed.
A few years ago, some bright little young scamp realised that there was a little loophole within the motor insurance industry whereby they found that it was way cheaper to obtain a motor trade insurance policy (which will cover your own vehicles as well as customers’ / stock vehicles) than it was to privately insure a high powered sports vehicle in its own right.
A motor vehicle technician will drive a customer’s vehicle carefully and safely in the same way that a motor trader will not want to crash a vehicle which is for sale, no matter what their age and premiums used to reflect this. Similarly, a 23 year old driving a high powered vehicle would more often than not fall into the ‘boy racer’ bracket and premiums would naturally have been considerably higher as would have been the risk of a claim, so as it became increasingly convenient for said ‘boy racers’ to obtain a motor trade insurance policy, so the claims statistics went through the roof resulting in some insurance companies hiking premiums to reflect this, others to exclude drivers under 25 and some insurers pulling out of the market altogether, thus reducing the market.
If you are looking for motor trade insurance under 25 years old, our brokers here at Comparecrazy have access to insurers who will take a sympathetic view to genuine bona fide motor traders, so if you have proof of trading i.e sales invoices for traders and receipts for parts / accounts for repairers, click now for a quote on motor trade insurance under 25 for a competitive online quote. Comparecrazy.com. The business insurance comparison site!
