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Good afternoon everyone.

I have problems in finding an insurance company that is willing to insure my new motortrade business. They do not even quote me, as if I am a deffinite risk.

I am a taxi driver, but some say they can not take into account my 1 year taxi NCB.

I have been driving professionally for the last 5 years, vans, taxis, etc.

I have never had any accidents, I am FCA approved, I have a BCA membership, I have obtained my trade plates, I am running as a LTD company, I have rented a private car park, and I only want a third party insurance and test drive so I can move my cars between workshops, valeting locations etc, and for my possible clients to be able to test the cars.

I have tried Bollington, they have also tried Tradewise with my details. No luck.

No one wants to insure me and they do not give me a clear reason. I have invested so much effort into this, and it seems I can not do this professionally as I intend to.

What is there to do? Thank you in advance for your advice. 

 

 

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Posted (edited)

You've got trade plates without showing insurance? When did that change?:blink: I have to send a copy of my certificate with the rest of the paperwork.

Just speaking out loud here but, I have to ask, why get to the insurance part, possibly the MOST important facet, after doing everything else first and spending money? Must be a good and sound reason that I can't think of.

OK, in my experience, If Tradewise won't quote then I think you may have huge issue. Maybe due to running another business as a taxi driver, insurance companies are very sensitive to quote you. Having access to a  taxi is a big worry due to the huge potential for personal injury compensation. I had an old Fairway come in chop years back and, I had to write a disclaimer saying we wouldn't be using it for reward, FFS, a 20 year old Fairway:lol:

Edited by tradex

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You only need to have the correct activity listed at Companies House, for DVLA to issue the plates. You only need to supply the company registration number. They do not care really probably, as the plates without insurance are worthless. They cash in the plates money, good enough for them :)

Yeah, I might have an issue. But none of them say that they want a higher premium, or anything like that. They just refuse to quote.

My taxi is insured on a taxi policy, in my name, not in company name. The taxi is my car, not on company name.

Yeah, they see a risk that I can not see.

I never imagined I would not find a company to insure me. I was just expecting a higher prenium in the first year, that was all. That is why I went through all the other stages. 

Why is the taxi NCB not acceptable, the same, I do not get it. I am driving 30-40k a year, no accidents. What proof do they need more? 

I have just  written to BIBA to explain my situation and I will be waiting for their answer. Maybe they can recommend an insurer that wants to "take the risk" lol.

Thank you for your answer.

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Try Roadrunner Insurance, I've been with them for years as nobody else can get close to their prices. I believe they cover part time traders too.

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J.T and stockedup! Thank you. I have managed to get insured the next day after posting this, by onesure insurance. After explaining my situation to BIBA, they called me and they put me in touch with onesure that managed to insure me with Tradewise.

I am finally insured ! :)

Thank you everyone for your replies.

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