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Get The
Trade Plate
Insurance You Need.
If you work with trade plates, you need the correct motor trade cover tailored to your work.
By getting covered via our insurance broking experts, you'll get:
Why choose I4MT?
As a trading style of One Sure Insurance - one of the fastest growing motor trade insurance brokers in the UK, we bring a wealth of experience in the motor trade sector to get you covered.
For any motor trade business, having trade plates can help speed up sales and reduce the cost of handling each vehicle.
Without a trade plate, you may have to tax and register each vehicle individually before taking them out on public roads. Trade plates are an excellent way to circumvent this long winding process, and they can make all the difference between making a sale or not.
Unfortunately, traditional motor trade insurance does not always cover trade plate vehicles.
That’s where we come in. Our trade plate insurance is for businesses that already own and need motor trade insurance, including trade plate registrations. Just let us know you will be using trade plates and we can make sure you’re adequately covered.
Anyone can become a car trader. Whether you prefer buying at auctions, scouring second-hand listings, or work in a number of motor trade professions.
As a car trader, you can be a part-time mechanic, a full-time trader or a full-fledged company dealing exclusively in importing and exporting exotic vehicles. Every business has its own set of unique complications and risks that insurance can cover.
Regardless of the kind of trader you are, you still need a car trader policy to conduct business. Luckily, we can sort it.
Our insurers’ car traders insurance policies are designed for all kinds of traders, from part-time home traders to those dealing from garages and showrooms.
Policies Specially Made For The Motor Trade.
With us, you can expect top-notch insurance expertise and service, as we tailor your cover to the individual needs and requirements of your business. We'll take care of everything. Here is what you can expect from the I4MT experience:
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A Trusted Panel of Underwriters
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Your Renewals Made Hassle-Free
Every year, we quote you an up-to-date price and give you the chance to automatically renew your policy.
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Make Changes When You Need To
Make changes when you need to and get expert advice on the best options. You can raise your indemnity level and cover as and when needed.
What is trade plate insurance?
Trade plate insurance is a specific type of cover designed for motor traders who use trade plates to legally drive untaxed vehicles on public roads.
This policy allows traders to move vehicles for purposes such as test drives, deliveries, or repairs without registering and taxing each vehicle individually.
It provides protection against road risks while driving vehicles with trade plates, including third-party liability, damage, and theft, ensuring that traders are covered when operating vehicles temporarily under trade plates
Why do I need trade plate insurance?
Motor trade insurance covers accidents to vehicles in your possession only if they are registered and taxed (not in your name). However, the policy document does not always include trade plates.
Trade plate insurance could mean claiming any repairs needed rather than eating away from the vehicle’s sales profit. Opting for a trade plate cover and a motor trade policy is always good practice.
Opting for trade plate insurance gives you a motor trade policy with all the necessary covers to run your business smoothly. It allows you to register all your own trade plates so that vehicles bearing your trade plates are covered in the event of accidents on a test drive or otherwise.
Are trade plates automatically exempt from road tax and insurance?
Trade plates do not provide insurance or cover road tax on their own.
They allow motor traders to legally drive untaxed vehicles on public roads for purposes related to their business, such as test drives or deliveries.
However, traders must still have separate motor trade insurance to cover the vehicles while using trade plates.
The trade plates only exempt the vehicle from being taxed individually, but insurance is still a legal requirement.
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Frequently Asked Questions
Discover the answers to the most-asked questions on motor trade insurance.
Trade plates are used on unregistered and untaxed vehicles in your possession. These plates are necessary for you to drive these vehicles legally on public roads while they’re in your care. Using trade plates saves time and it is cheaper than registering and taxing every car in your yard.
If you wish to get trade plates, then apply to the DVLA or Driver and Vehicle Licensing Agency. Trade plates can last anywhere from 6 to 12 months. Remember, you can get trade plate insurance only if you own trade plates.
There are guidelines on the use of trade plates, and going against them can result in a maximum of £5000 fine or, in some cases even a jail term.
Remember, trade plates are for vehicles you possess that haven’t yet been registered. They are a temporary fix until you sell the car or transfer ownership. However, each trade plate number can only be used on a single vehicle at a time.