Tradex Insurance Services
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Misleading company
Had a Self Drive Hire Insurance policy with Tradex from August 2022 , paying over 25k a year for only 3-4 vehicles was told the price would hopefully come down the next year however remained the same (even though no claims were made). I invested my entire savings into my business, avoided to make any claim and would pay out of my own pocket if needed, just so I could keep my policy on a clean slate. However, on 29/07/24 2 weeks prior to my cover ending (12/08/24) they decide they no longer want to insure my business. I am still gobsmacked till this day. Their insurance product was massively expensive leaving me with a loss of profits on the winter months. I was hoping to build my no claims with this insurance company so I was willing to pay the price. Every other insurance company now requires 3 years experience minimum for self drive hire and I have 2 years which is no use. I have now realised they had actually sold their company to markerstudy January 2024. They have been refusing everybody’s renewal 2 weeks prior to their policy end date. This means they had known more than 6 months they would not be giving me a renewal but decided to let me know 2 weeks prior to my end date. For some people this would be very inconvenient as they may need to change insurance providers however, for me it means bankruptcy for my business which I had high hopes for. I had managed to make some profit and buy vehicles for my company but have now had to sell them just to get by and have lost everything I had made and more from the last 2 years. All the contacts I had made and the connections with my clients as I can no longer trade without the insurance.