As trader’s insurance is specifically aimed at covering businesses, proof that you are a legitimate business is essential. Our insurance underwriters will only cover traders with a financial interest in the industry, as well as both experienced and new traders.
Luckily, proving that you are an active and genuine trader for profit is quite simple.
Simply keeping a record of anything will show insurers that your business is active. Insurers will generally accept the following as proof:
- Invoices and receipts of vehicles sold or repair services carried out.
- Advertisements – both online and in print.
- Tax forms.
- Registration documents.
- Business memberships and proof of a professional bank account.
Additionally, if you are a car seller, you must prove your business’ motor trade activity by providing details about turnover and the number of vehicles sold along with receipts.
We recommend that you do not send your evidence in the post as these documents may become lost.
Create digital copies by scanning or taking photographs of your documents, then save them in a folder ready to email them to your insurer. When chatting with one of our insurance experts on the phone, we can guide you through the process of sending over all the evidence needed.