Trade Insurance Question

[HillmanImp]

Afternoon,

 

I know someone who has previously had Trade Insurance and has built up 5 years of no claims on the policy. They no longer require this type of policy and want to switch to a normal insurance. They have spoken to Aviva and they have said he cannot carry over his trade insurance to a normal policy and that this is the case with most companies.

 

However they did say that some companies do allow trade policies NCB to be used.

 

A) Are Aviva talking out of their arse

Is anyone aware of which companies will allow trade NCB to be used.

 

I think he has been ringing round and not had any luck but am not 100% sure.

 

Help will be appreciated.

 

Scotty

[Cavcraft]

I was warned before getting trade insurance that when I switched to 'normal' insuarnce they wouldn't accept my no claims, so I suspect Aviva were correct.

[Pete-M]

Yup, no "normal" no claims with trade policies. Hence the insane quote I had on the 604.

[Luxobarges_Are_Us]

That's what I was told, too.

 

OTOH, there's nothing stopping you from buying a "normal" policy with good cancellation terms every couple of years and keeping it for a month just to refresh the NCD.

 

I would go to a few brokers and see if they could do a "mirroring" deal.

[kinkersaab]

my trader policy is so cheap, i can think of no reason to change, even though i do very little actual trading from home nowadays..... I think i pay £450 pa for tpo .

[HillmanImp]

I think that answers that. Thats quite annoying I suppose. He may well wish to keep the trade policy on that basis. Thanks for your help.

 

Scotty

[nigel bickle]

Funnily enough, I've renewed mine today. 3 drivers (1 aged 28) £571.83 to additionally inc any 2 motorcycles this year. Tht'll save a bit on the bigger bikes cover. I'm with Roadrunner