Insurance balls up. Advice?

[tradegirl 112]

Rant. Going into our 4th year with Staveley Head. A month before renewal they flag up 4 vehicles that we've been sat on for a while, and request proof of purchase and V5s.

My mistake number one: Not sending the docs through immediately. They sent a letter saying the policy would be cancelled if I didn't send proof for these vehicles through by the 25th.

Then the policy auto-renewed so I got various emails through to send proof of trading to avoid cancellation etc.

The deadline as I understood it was 5pm on the 25th May. I sent proof of trading etc at 4pm on 25th and had a back and forth with a lady to confirm addresses covered. No mention of the previous requested documents.

Yesterday 31st May I called them at 4pm to chase insurance certificate. Turns out the policy had been cancelled. (And not informed me, so was trading and driving around with no insurance for a week) I was told to send all the flagged vehicles documents through to see if they'd reinstate the insurance. I sent them through around 5pm last night.

This morning they called me to say ok they can do me a new quote. But since it's now June, the price has gone up £500. From £1400 premium to £1870 premium. Total 2100 with direct debit.

Argue as I might, they're not budging. Been on the phone all day with no luck with Roadrunner, Premium insurance, Bollingtons lines are down, and generally no luck with prices and no insurance.

Oh, not only have they bumped the price up and aren't budging, now when asked if we've ever had insurance cancelled, I have to say yes, which bumps up our price with other insurers too. Literally overnight we now have to pay £500 more.

Advice?? Even if I don't beat the price Of rather give the money to someone else now, but everyone is closed.

Cars in trade are exempt from continuous insurance, but what do I do about moving vehicles for a test drive or something? What do I do for the absolutely necessary movement of vehicles over the weekend until insurance brokers open on Monday?

Thank you

Edited June 1, 2018 by tradegirl
Add info

[Stalker 180]

I think they are penalising you because of having had a policy cancelled? 

I have to say, you have another thread where it has been highlighted that you are very quiet and that you aren’t prepping cars until sold.... what have you been doing that was more important than sorting out your insurance? 

[tradegirl 112]

11 minutes ago, Stalker said:

I think they are penalising you because of having had a policy cancelled? 

I have to say, you have another thread where it has been highlighted that you are very quiet and that you aren’t prepping cars until sold.... what have you been doing that was more important than sorting out your insurance? 

Lol Stalker, I never said I'm not prepping vehicles. I said they have minor dents and dings that I haven't fixed. Others in here reckon I should have them repaired.

You're right though, I did leave it at the last minute, but they are w*nkers for not saying "Hey idiot, since you clearly want to renew as you've sent us half the docs, we need the other have to go forward". Not just let me make a mistake and cancel the insurance without a courtesy email.

[BHM 994]

I suspect you’ll of have at least a couple of emails from them?? Anyhow there’s nowt much you can do.

[tradegirl 112]

5 minutes ago, BHM said:

I suspect you’ll of have at least a couple of emails from them?? Anyhow there’s nowt much you can do.

BHM, nothing after the cancellation to say they'd cancelled. It was sheer chance I rang them for the certificate, otherwise I'd still think I have insurance. Balls...

[It's me 613]

its a condition of my insurance that i supply any invoices promptly to prove im trading,last time i had to supply parts invoices trade references 3 purchase invoices and 3 sales invoices before they would renew,this is with LV who i get via my broker,my insurance went up 25% in april with no claims too but i  wasnt willing to shop around again because ive been there before and trying to get cars on the mid was a nightmare

i suggest you park everything off road till monday and go to the pub

[Row 71]

It doesn't help you but I have had similar with trade insurance they like you to be straight on the ball and don't like delays so now when they ask for anything I respond immediately otherwise you have to do it all again anyway for the next company you may go to, if you need to shop around you could try Tradewise.

[justina3 518]

Insurance companies have a bad name for a reason, we make sure we get a rep out so we have a face to shout at, also your premium for dd payments seems a bit high we pay 4% premium credit is the firm. 

[tradegirl 112]

Thanks gentlemen. I didn't delay on sending proof of trading etc for renewal. I just genuinely didn't think that they needed proof of ownership of these 4 vehicles they flagged up on the previous policy a month prior.

I'll put my hand up and say I should have sent it right away, but surely when I'm sending docs for renewal, you should tell me if I'm missing any.

And to say that "it's a new month and the rates have gone up" to charge me £450 more than before is disgusting.

Anyway, lesson learned.

3 minutes ago, justina3 said:

Insurance companies have a bad name for a reason, we make sure we get a rep out so we have a face to shout at, also your premium for dd payments seems a bit high we pay 4% premium credit is the firm. 

Justin, I thought the premium is set by the broker?

Edited June 1, 2018 by tradegirl

[justina3 518]

Nope they pay a flat rate and mate commission on charging extra premium to us poor folk, so when you have got them down to there lowest figure just bash a few percent of the premium charge for going onto dd i know someone paying 8%

[tradegirl 112]

9 minutes ago, iJCS1 said:

Roadrunner did me a great deal on insurance being 23 everyone was after 5K. They came in cheapest at 3k including an extra driver and comprehensive cover. Everyone else was third party fire & theft. + I do a lot of left hand drives and they were also included..

high performance on restriction tho....

 

iJSC1, I tried them, but they either came in as more expensive, or they couldn't cover me until Monday. I'll check them again if I don't square something away tomorrow, thank you. That's a good price for 23, I think I was quoted £4k trade when I was 29 (first ever policy in my name though)

15 minutes ago, justina3 said:

Nope they pay a flat rate and mate commission on charging extra premium to us poor folk, so when you have got them down to there lowest figure just bash a few percent of the premium charge for going onto dd i know someone paying 8%

So just haggle them down? Thanks for that Justin, I didn't know! It'll help for tomorrow.

[Arfur Dealy 823]

The question “have you ever had a policy cancelled” is asked by all insurers... They will all want to know why and they all look down on it. I think you’ve bolloxed yourself. Try admitting to a “you’ve had a policy cancelled” and they’ll only know the few insurers which might  touch you, just make sure you are sat down when they announce the premium. 

[tradegirl 112]

1 minute ago, Arfur Dealy said:

The question “have you ever had a policy cancelled” is asked by all insurers... They will all want to know why and they all look down on it. I think you’ve bolloxed yourself. Try admitting to a “you’ve had a policy cancelled” and they’ll only know the few insurers which might  touch you, just make sure you are sat down when they announce the premium. 

Arfur, I have indeed bolloxed myself. I've been quoted one premium for £1979 from Impact Insurance...we'll see what tomorrow brings. I think we'll have to take one for the team this year.

I just read somewhere that if the cancelled insurance was in a LTD name, then it's a separate entity to you.

The cancelled insurance was under our Ltd company which is being struck off. The new insurance will be in our names and under our partnership.

Does anyone know the legalities of this? Do I have to declare the cancelled policy since it was in the name of a Ltd company that we're no longer trading under?

[Arfur Dealy 823]

12 minutes ago, tradegirl said:

Arfur, I have indeed bolloxed myself. I've been quoted one premium for £1979 from Impact Insurance...we'll see what tomorrow brings. I think we'll have to take one for the team this year.

It won’t just be for this year and then forgotten... the question will still be asked... “Have you ever had an insurance policy cancelled”. 

[AutoJacob 34]

I would be inclined to stay with your current insurer.. at least then you could say they just ballsed up on the renewal and you haven't ever actually had a Insurance policy cancelled.

Bite the bullet, pay it and get back on track.

[tradegirl 112]

2 minutes ago, AutoJacob said:

I would be inclined to stay with your current insurer.. at least then you could say they just ballsed up on the renewal and you haven't ever actually had a Insurance policy cancelled.

Bite the bullet, pay it and get back on track.

Thanks Arfur, that makes sense. Do you know anything about the legalities of the cancellation being under a Ltd company? (Which has ceased trading) Does it make any difference to the declaration?

[Arfur Dealy 823]

27 minutes ago, tradegirl said:

Arfur, I have indeed bolloxed myself. I've been quoted one premium for £1979 from Impact Insurance...we'll see what tomorrow brings. I think we'll have to take one for the team this year.

It won’t just be for this year and then forgotten... the question will still be asked... “Have you ever had an insurance policy cancelled”. 

Is the policy in the ltd companies name ? If you’ve ceased trading, been liquidated or something else, it’s fundamental to the underwriting of your renewal. You need to tell the insurance company. 

[AutoJacob 34]

8 minutes ago, tradegirl said:

Thanks Arfur, that makes sense. Do you know anything about the legalities of the cancellation being under a Ltd company? (Which has ceased trading) Does it make any difference to the declaration?

Ok so.. the question "have you ever had an insurance policy cancelled" Is asked to the individuals being listed on the policy, if the current (cancelled) policy is in the name of a ltd company then it isn't the individuals that have had the policy cancelled, but the LTD company.

So if you're taking the renewal out under a new LTD company name then don't worry about it.

I hope that makes sense.

[tradegirl 112]

1 minute ago, AutoJacob said:

Ok so.. the question "have you ever had an insurance policy cancelled" Is asked to the individuals being listed on the policy, if the current (cancelled) policy is in the name of a ltd company then it isn't the individuals that have had the policy cancelled, but the LTD company.

So if you're taking the renewal out under a new LTD company name then don't worry about it.

I hope that makes sense.

Thanks AutoJacob. It was under a Ltd company, and now any policy going forward will be under a partnership. Wish I knew this before speaking to 3 separate insurers today lol. Thank you.

[AutoJacob 34]

2 minutes ago, AutoJacob said:

Ok so.. the question "have you ever had an insurance policy cancelled" Is asked to the individuals being listed on the policy, if the current (cancelled) policy is in the name of a ltd company then it isn't the individuals that have had the policy cancelled, but the LTD company.

So if you're taking the renewal out under a new LTD company name then don't worry about it.

I hope that makes sense.

Also avoid having your name on too many dissolved / liquidated companies, insurers don't like this and will penalize you for it.

[tradegirl 112]

12 minutes ago, Arfur Dealy said:

It won’t just be for this year and then forgotten... the question will still be asked... “Have you ever had an insurance policy cancelled”. 

Is the policy in the ltd companies name ? If you’ve ceased trading, been liquidated or something else, it’s fundamental to the underwriting of your renewal. You need to tell the insurance company. 

Arfur, the policy up until the 21st, and the auto renewal cancelled on 25th were under our Ltd company which is currently being struck off.

Any new policy will be under our partnership.

5 minutes ago, AutoJacob said:

Also avoid having your name on too many dissolved / liquidated companies, insurers don't like this and will penalize you for it.

Thanks AutoJacob. Just the one so far!

[Arfur Dealy 823]

43 minutes ago, tradegirl said:

Arfur, I have indeed bolloxed myself. I've been quoted one premium for £1979 from Impact Insurance...we'll see what tomorrow brings. I think we'll have to take one for the team this year.

It won’t just be for this year and then forgotten... the question will still be asked... “Have you ever had an insurance policy cancelled”. 

Your “no claims bonus” will be either under the business or your name....it can’t be used on both or on multiple policies, that’s why you need to upfront and honest with your insurers or potential new insurers. 

BTW. I have no idea why my replies are being mixed up...

[tradegirl 112]

8 minutes ago, Arfur Dealy said:

It won’t just be for this year and then forgotten... the question will still be asked... “Have you ever had an insurance policy cancelled”. 

Your “no claims bonus” will be either under the business or your name....it can’t be used on both or on multiple policies, that’s why you need to upfront and honest with your insurers or potential new insurers. 

BTW. I have no idea why my replies are being mixed up...

Mine are getting mixed up too. Thanks Arfur, I hadn't thought of that. I'll figure it out.