Motor trade insurance NCB transfer

Snooze

Greetings all,

To cut a very long story short I am winding up my part-time valeting business of 10 years and going into business with a competitor. I have a motor trade policy which is rather conveniently ending next weekend and I have maximum NCB (5 years (10 in total)) accrued on it.

I am discovering that the insurance companies I have contacted for a private motor insurance policy quote will not accept the NCB from a trade policy because it's "company policy" and I would basically have to start from zero again which unsurprisingly results in quotes higher than what the motor trade policy cost.

It seems rather strange to penalise customers like this when they are quite happy to take into account NCB accrued on a private policy when you start trading. :cool: Are there any work-arounds that I should know about or perhaps there are private motor insurers that do that accept NCB accrued on a trade policy?

Thank you.

forgotmyname

Yeah my mate had a similar issue, transferred his private no claims to a trade policy and then couldnt find anyone that would accept it the other way.

He ended up starting from scratch, but found it cheaper to use hie wifes name even though the car was his and he was the main driver.

KaiserBill

I had a similar problem when I wanted to transfer my van NCB to a car policy. Nobody would do it.

So I went to see Swintons. They did it for me with no problems. After one year with them I was able to shop around for the best deal possible, now that it was private car NCB again.

InsideInsurance

Brokers may be more lenient than insurers though I'd avoid Swintons.

Have a chat with the insurers that allow you to transfer Company Car experience across to private car and see if any of them are willing to accept it. Be aware that some give you a credit for company car but not "true" NCD meaning its not transferable after 1 year (just the 1 year earned is)

alleycat`

Appreciate not the same but directline, esure and privilege transfer Company Car no cliams to private if you can get a letter that meets their criteria.

They also let you retain the no claims after the first year is out. Many don't do this (they just give you a cheap first year and set you at one year after that).

The only caveat i found of note was that they won't protect them for the first year with them.

Possibly they might do something similar in these circumstances?

Edit: cross posted with InsideInsurance.

Snooze

Thanks all. A-Plan are happy to provide cover and recognise motor trade NCB, as do Greenlight and also AXA (which includes Swift Cover as they're under the same umbrella). They all require written proof from the motor trade insurer though, which is to be expected.