The Retirement Insurance Advisory Service (RIAS) has devised a policy to take the sting out of company car drivers changing to privately-owned cars.
It has been well publicised that thousands of drivers are expected to change to private ownership after new tax rules come into effect this month. Drivers are expected to suffer higher premiums, and lose their no claims bonuses.
RIAS' new motor policy allows drivers to transfer their company car no claims bonuses to their own cars.
RIAS spokesman Mark Gumbrell explained: "Most insurers treat ex-company car drivers as if they are new drivers who must begin building up a no-claims discount from scratch.
"RIAS' motor cover allows those who are changing from a company to a private car the chance to transfer their no-claims record to their new personal motor insurance and thus take full advantage of the no-claims discount."
