From uninsurable to insured, thanks to NLIG’s advice

NLIG’s Motor Trade team will always tell you how it is, no matter how unwelcome the news, as any broker worth their salt should do. Moreover, the team will inevitably use their many years’ motor trade experience to identify a viable solution for the circumstances, ensuring a business is fully and adequately insured. Of course, the truth and the solution are not always welcome, as this case study illustrates.
 
Motor Trade Manager, Darren Gowers, explains: “Fourteen years ago, we were approached by a potential new client looking to insure his motor trade business. He was running a Limited Company that owned his vehicles, tools & equipment, and operated from premises shared with another man running a separate Limited Company that owned his vehicles, tools & equipment. Our potential new client required one insurance policy to provide cover for both Limited Company’s, workshop, business and equipment, with shared liability.”
 
Darren knew immediately this was impossible. With no single business owner, or common ownership of equipment, it was impossible legally to arrange insurance cover. Darren advised the client as such, recommending that they arrange separate policies for each business, or speak to their solicitor and accountant to set up a joint company. Once this was in place, NLIG would be able to advise on cover. However, this was not the advice the client sought and he announced he would arrange cover through an alternative broker.
 
Sometime later, Darren was surprised to receive a call from the aforementioned client, who admitted he had been to a number of other brokers, all of whom had been unable to arrange cover. NLIG was the only broker who had proposed a legal solution to the problem, which he had eventually followed up, setting up two limited companies, trading as a limited liability partnership, enabling insurance cover to be arranged under one Policy.
 
“He was very apologetic,” says Darren, “and keen for us to arrange cover. It appeared that we had won his trust and he was very happy to appoint NLIG as his broker. I am happy to say some 14 years later, the client is still with us and remains to this day one of our loyal and longstanding motor trade clients.”
 
All of which serves to illustrate the value of experience and know-how. Having amassed nearly 70 years’ combined experience, during which time they have concentrated solely on the motor trade, Darren’s team has encountered just about all scenarios, giving them the expertise to provide sound, reliable, accurate advice. As Darren explains:

“Clients can depend on us to tell the truth. We won’t necessarily deliver a cheaper premium, but we will arrange the cover they require to protect their business against exposure to risk, ensuring business losses are covered in the event of a major claim. That should always be the remit of a professional broker. ”
 
To find out more or to arrange a review of your existing policy, ensuring your business is adequately covered, please give us a call on 01992 703007 or email insurance@nlig.co.uk