Autobiz recently received a letter from a long time magazine subscriber concerning problems he is experiencing with his motor trade insurance policy. In addition to the fast rising cost of the policy, the reader is also having issues with the establishment of no claim bonuses and driving records for policy named drivers.

The business has been in operation for 25 years and the owner says he was advised by his broker that he should not insure his family car on a private policy as if he was involved in an accident while driving on business there was a strong possibility that neither the motor trade policy or the private policy would cover a claim.

He is now looking to take out a private policy so that his son can also drive the family car, but has been advised that he can get absolutely no no-claims discount as the no claims bonus on the motor trade policy is not acceptable to any insurance company. To compound the problem he was also informed that despite driving on the motor trade policy since the start, his wife, who also works in the business, is effectively viewed by insurers as having no driving experience.

The reader wonders how other garages owners have been able to overcome this problem.

This specific issue is just one example of a common theme that seems to be prevalent throughout the motor trade in Ireland. When it comes to choice and competition it would appear that this is extremely limited for motor trade insurance policies. Most garages believe they are paying an unacceptably high cost for cover and are getting very little in the way of service or benefits for their premiums.

Is your garage getting a fair deal on insurance and can you recommend any brokers or insurance providers that you feel understand the motor trade and are offering quality business cover at a reasonable price?

Autobiz would like to hear from anyone that believes they may be able to help its readers tackle the growing issue of rising insurance costs and from anyone who has been able to resolve the issues as outlined in the subscriber letter.

Please email you comments together with contact details to info@autobiz.ie