First
Alternative Company Information
About
The First Alternative Company
First Alternative is a Halifax and Bank of Scotland company.
First Alternative was conceived in 2003 by the company’s Chairman,
Peter Wood. Peter pioneered the direct selling of insurance over
the telephone in the UK back in 1985, when he launched Direct Line
and revolutionised the way that insurance was sold.
First
Alternative has backing from the HBOS Group - and approval from
the Financial Services Authority - and launched its motor insurance
product in April 2004 under Chief Executive, Colin Batabyal. The
company will run alongside esure - also founded by Peter Wood in
2001- and between those two companies they aim to offer insurance
to around 95% of drivers.
First Alternative estimates that approximately 40% of private motorists
could be classified as non-standard because of the type of car they
drive, their driving history (claims and convictions) or other personal
attributes such as age or occupation.
With drivers buying more high value cars and incurring more traffic
enforcement penalties, an increasing number of drivers are moving
into the non-standard market. To date, the number of providers has
not kept pace and many drivers have ended up paying higher premiums
and up to 20% commission if they buy through brokers.
First Alternative offers drivers the opportunity to build up to
75% no claims discount - unlike most other companies who offer only
65%. First Alternative also provides Comprehensive policyholders
with courtesy cars while their own are being repaired at one of
the company’s network of repairers.
Head
Office:
The Observatory,
Reigate,
Surrey
RH2 0SG
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