Claims FAQ

We have put together some answers to our most Frequently Asked Questions regarding claims and our claims procedures. Please contact us if you need any further information.

1. What should be done in the event of an incident occurring?

All incidents, no matter how minor they may seem, should be reported immediately, without delay, to the Claims Department at Tradewise Insurance Services on 0800 2055513. Relevant advice will then be given to the Policyholder as to how their claim will be dealt with.

2. Will my No Claims Discount be affected as a result of a claim?

Yes. In the event of a claim all discounts will be disallowed until such time as the file is closed and we are satisfied that no payments will be made by ourselves.

3. How long will Tradewise leave their file open pending receipt of a Third Party Claim?

Third Parties have up to three years to submit a claim for personal injury and up to six years to submit a claim for property damage. However it will be at the discretion of Tradewise as to whether or not we decide to close any file.

4. Should I discuss liability with any Third Party involved?

No. No admission of liability, offer or promise of payment should be made by you to any Third Party without the written consent of Tradewise. Underwriters shall also be entitled to take over and conduct in your name any claim that is made against you.

5. What information should I obtain from any Third Party following an incident?

You should always exchange details with any Third Party. It is advisable to obtain their full name, full postal address, vehicle make, model and registration and insurance details. You should also take full details from any independent witnesses in order that we may consult them when assessing liability.

6. What should I do if I receive any Third Party correspondence?

All correspondence should be submitted to Tradewise unanswered and immediately upon receipt. You should not enter into any protracted negotiations with any Third Party representative that may prejudice our position.

7. Will I need to complete a report form?

Yes. An incident report form is required urgently, even if only for information purposes. This will be dispatched by the Tradewise Claims Department. It should be remembered that it is a condition of your policy that you should give notice in writing of any incident as soon as possible after its occurrence. We need a report form in order to be in possession of the facts surrounding the incident. Do not accept that a Third Party will not pursue a claim against you just because they say they won't at the scene. In order to protect your interests and ours as well a report form must be completed for all incidents, no matter how minor they may appear to be.

8. Is there anything else that needs to be submitted with an Accident Report Form?

Yes. A copy of the last permitted driver's full UK licence must be submitted. We also require the driver to sign and return a mandate for the release of information from the DVLA. This mandate will be attached as standard to the back of the report form. Furthermore we will require documentary evidence of the Policyholder's involvement in the Motor Trade. We will not be in a position to complete our indemnity enquiries unless these items are received.

9. Why do I need to complete the DVLA mandate?

The mandate is required in order that Tradewise can approach the DVLA to obtain a fully detailed and up to date record of a person's driving history. It enables us to confirm that all driving convictions have been disclosed to us as they should have been.

10. Why do I need to provide documentary evidence of trading?

We require this as part of our standard indemnity enquiries. If somebody takes out a Motor Trade Road Risks policy with Tradewise, then they must have valid reason to do so. If the Policyholder is buying and selling vehicles we need to see evidence of their trading activities by way of sales invoices and purchase receipts. If they do not buy and sell, we require alternative evidence. For example, if you are a valeter or a mechanic, we will require copies of invoices for customer work carried out.

11. In the event of a Total Loss or Theft claim, what documentation will be required in order for an offer to be made?

We will require the following:

  •     Fully Completed Report Form
  •     Copy Licence/DVLA Mandate
  •     Proof of your involvement in the motor trade (see below for explanation)   
  •     Original Vehicle Registration Document
  •     Original Current MOT Certificate (and past certificates if available)
  •     Original Purchase Receipt
  •     Copy of any Hire Purchase Agreement
  •     Bank Statements showing amounts withdrawn to purchase vehicle
  •     Service/Maintenance Documentation
  •     All Keys
  •     Vehicle photographs
  •     Plating Certificate (if applicable)

12. What is acceptable proof of your involvement in the Motor Trade?

Upon inception of your Motor Trade Road Risk Policy a Statement of Fact was provided confirming that it is a requirement to maintain acceptable evidence of your involvement in the Motor Trade, what we considered acceptable proof and confirmation that this will be requested during the course of your policy with us. In order for us to proceed with your claim please provide us with sight of this documentary evidence. It is a requirement of the operation of any business that the proprietor(s) maintain formal business records. 

With regard to documentary evidence of trading, as mentioned on the Statement of Fact, this should comprise of the following:

  • Purchase receipts and sales invoices for vehicles bought/sold/worked on within the last six months
  • Copies of invoices/receipts for parts/materials purchased for work carried out within the last six months
  • Vehicle Registration Documents for vehicles currently in your possession
  • Copies of adverts placed
  • Copy of stock books & accounts
  • Company headed paper/business cards


We will not be able to discuss what can or cannot be considered acceptable evidence on specific cases. If you are unable to provide the above documentation, please confirm this in writing with a detailed explanation as to the reason why you are unable to provide this.

13. On what basis is the value of my vehicle assessed?

On all Motor Trade Road Risks Policies, settlement will be made in accordance with current Market Trade Value. Commercial Vehicle claims will be settled at Current Market Retail Value.

14. What will happen to my vehicle following confirmation that it is going to be a Total Loss?

If the vehicle is incurring storage charges, arrangements will be made for its immediate removal to a place of free and safe storage. The vehicle will not however remain there indefinitely. If, after a maximum period of 45 days in storage, you do not express an interest in retaining the salvage, arrangements will be made for it's disposal without further notice.  

If you are aware that the vehicle is incurring storage charges and you indicate that you wish to
retain the salvage, then we will not be held liable for any storage charges.

15. In the event of a Theft Claim where my vehicle has not been recovered, how quickly will I receive my settlement cheque?

There is no specific timescale as to when an offer will be made for the value of your vehicle following an unrecovered theft. Every claim is different and assessed on its own merits. There are many stringent lines of enquiry that we pursue in order to satisfy ourselves that we are dealing with a valid and genuine loss. Unless these enquiries are complete, no offers will be made. Once settlement has been agreed however we will submit a settlement cheque immediately.

16. If I have Accidental Damage Fire and Theft Cover and intend to pursue a claim under my own policy for any repairable damage incurred to my own vehicle, what should I do?

Following report of an incident we will arrange for an independent engineer to carry out an inspection of your vehicle. This inspection will be arranged without prejudice to indemnity unless we have received all of the required documentation from you. An estimate for the vehicle damage will need to be obtained in order that the inspecting engineer can agree figures with the repairing garage. As soon as we are in a position to confirm indemnity we will contact the engineer to authorise the repairs on our behalf.

17. Will Tradewise cover the cost of recovering my immobile vehicle following an incident?

If your vehicle is disabled by loss or damage which is indemnified under the policy, we will bear the reasonable costs of protection and removal to the nearest repairers and also pay the reasonable costs of delivery after repair to you at your address within the UK. Once the vehicle has been inspected by an independent engineer, a decision will be made to remove the vehicle if it is a a Total Loss. We will bear the reasonable cost of any storage charges whilst this process is carried out.

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