NCD after having a company car?

jogwood_2

Does anyone know of any car insurance companies which will take into account claim free driving from use of a company car?

My husband is due to hand back his company car in a few weeks and so needs to take up insurance in his own name for a personal car.

He has had the company car for the last 4 years - no incidents, and had a couple of years before that insured with a personal car but cant remember the insurer.

Thanks

poet123

Yes, some will if you get a letter from the HR dept to confirm that he has been insured under the company policy and has had no accidents etc during that period. We did it with Co op and Endersleigh. They gave him the number of years shown on the letter.

jogwood_2

Thank you - we'd not tried either of those for a quote but will now, thank for your help

HappyMJ

poet123 wrote: »

Yes, some will if you get a letter from the HR dept to confirm that he has been insured under the company policy and has had no accidents etc during that period. We did it with Co op and Endersleigh. They gave him the number of years shown on the letter.

What would happen if the company did not have a policy? The last place I worked at the cars were not covered by an insurance policy as the company self-insured all vehicles.

poet123

HappyMJ wrote: »

What would happen if the company did not have a policy? The last place I worked at the cars were not covered by an insurance policy as the company self-insured all vehicles.

No idea, not sure what self insure is? The companies we approached never asked who the insurance had been with (and I had no idea) they just accepted the letter as proof that he had been a claim free insured driver.

InsideInsurance

Most companies that "self insure" these days set up a captive insurer or at least use an insurer on a risk management basis (rather than risk transfer) and so basically insurer with the company but then 100% reinsure it back to themselves. Given the unlimited liability for PI I cant see anyone not at a minimum having reinsurance in place.


That said and done, it is normally a letter from the employer not the insurer that is requested.


To the OP, most the aggregators like confused.com allow you to enter company car NCD and those insurer that accept it will factor it in when providing the quotes. DL who isnt on aggregators do accept it, I cannot remember off hand if Aviva does or doesnt as the other major non-aggregator insurer

HappyMJ

poet123 wrote: »

No idea, not sure what self insure is? The companies we approached never asked who the insurance had been with (and I had no idea) they just accepted the letter as proof that he had been a claim free insured driver.

If you have a spare £500,000 you can use that instead of buying car insurance. A large enough company can also do that and could then manage their own risks and not have to buy insurance on the cars they own as they have the ability to pay out on any claims made against their employees/drivers.

poet123

Sounds risky to me £500,00 is a pretty small sum for a car fleet and the risk of PI claims. Son is a PI lawyer and believe me the sums paid out can far exceed that on one claim alone.

InsideInsurance

For a fleets I think the amount is larger but it is also why they rarely self insurer now but instead form a captive insurance company and then buy reinsurance so that they cover the first million or two of any claim and then the reinsurance picks up the rest.

rs65

jogwood wrote: »

Does anyone know of any car insurance companies which will take into account claim free driving from use of a company car?

Esure accepted a company letter for me in 2007. Don't know if they still do though.

rs65

poet123 wrote: »

Sounds risky to me £500,00 is a pretty small sum for a car fleet and the risk of PI claims. Son is a PI lawyer and believe me the sums paid out can far exceed that on one claim alone.

£500k is lodged as effectively a bond. It doesn't limit the claims against them - they still have to meet the full cost of any claims.

I think it's £500k regardless of size of fleet.