Cannot get motor insurance no claims bonus transferred from commercial to private?

[Hooverfish]

I am about to retire. I've had two vans on a commercial policy for many years, old and inexpensive (€633 for both last year). I'm now being told by our long term broker (recently bought out by another company...) that when I retire, my full no claims bonus will not apply as I must transfer both vehicles to private policies and the cost will be about €2600 for one year. Anyone else been through this? What did you do? I'd also like to thank Mathepac for his list of insurance company phone numbers at https://www.askaboutmoney.com/threa...-for-car-insurance.200308/page-4#post-1944104

 

[Sarah Ryan]

Yeah my father has gone through this, trade plates his whole life so when he stopped trading he needed to go onto his own private policy. You can only keep your NCB for two years I believe, I was on a trade policy for 1.5 years and then I came off it again to protect my NCB

 

[Brendan Burgess]

Looks as if FBD might be an option

Personal motoring policy to commercial for EV ?

I am purchasing an EV through my Ltd. company to avail of the generous BIK tax break. What's the best approach to insuring the new EV ? My existing personal policy provider does not want to keep my business as its deemed commercial, although there will be 0 business miles. Thanks,

www.askaboutmoney.com

 

[Des Pondent]

Anyone else been through this?

Are you named on any other motor policy ? If so maybe try that insurer.
I had a company car for years then changed jobs and needed my own car. All the insurers were quoting mad money as I didn't have a NCB with the exception of my wife's insurer Alliance, I had been a named driver on her policy for years. While they could not give me a NCB, they took my named driving into account and the price quoted was streets ahead of all the others.

 

[peemac]

Axa can be very good with this. Call into one of their offices.

They will likely look for a declaration that you were the main driver, (even better if it was a one man company) had no accidents etc etc. It will be passed to their underwriters and they will most likely give you 3 years or more.

 

[Hooverfish]

Thanks everyone. I tried FBD as per Brendan and they will not cover two seater car vans as private vehicles. So then I got on to the car part of insuremyvan.ie which is called insuremycars.ie but emails from them come from coverinaclick.ie. Between those two, they said I can be "retired" and still insured on a commercial two seater car van and their price is as good as Zurich who I'm currently with. They also said my husband can get insured on a small Opel Corsa despite being 73 if he owns it, as they will give him the benefit of his named driver years on my Zurich policy, if we have both vehicles with them. So I think my problem is solved - well done Despondent - and it just proves the continued value of help on askaboutmoney.com as well!

 

[Ravima]

Glad to see you seem to be sorted now.

Are the two vans insured in your own name or in a company name? If in your own name, then there is usually no issue with the holding insurer transferring the earned NCB from the commercial vehicle to the private car.

If the vans are insured in a company name, are they on a named driver basis, or open driving? If on a named driving basis, the point above applies as the insurer knows your history. If it is on an open driving basis, then you can face a difficulty as the insurer has no knowledge of your driving the vehicles over the past few years. It might help if your HR dept were to confirm that you were a driver for the period and they will have to state this period. Your broker then can try to get you some form of introductory NCB from the holding company. This is not a given though.

I note that your vehicles are two seater vans. These will have to continue to be insured as commercial vehicles if there are no fixed seats in the back, which seems to define (by insurers) what a car is. As you point out, there is no barrier to a retired person insuring a van on a commercial vehicle policy. A question could be asked though as to why a retired person has TWO commercial vehicles.