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Octagon Insurance Company Limited

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Octagon Insurance Company Limited was founded as recently as late in 2009 and has a relatively complicated history of ownership and registration.

Octagon Insurance Company Limited and its sister company, Octagon Insurance Services Limited, are both registered in Gibraltar, where they are regulated by the Gibraltar Financial Services Commission. Nevertheless, both companies are also subject to partial regulation by the UK's Financial Conduct Authority because the insurance business is administered in the UK on behalf of Octagon by One Quote Direct Insurance Services Ltd. The latter is in turn owned by the Europa Group, which has its headquarters to the north of Bristol, at Thornbury.

Octagon, One Quote Direct and the Europa Group are all part of Brentstar Holdings Limited Group, founded in January 2009.

Octagon specialises in car and van insurance, claiming to have built up a customer base of some 100,000 in the last five years. Amongst the stated missions of the Gibraltar based company are:

  • the provision of cheaper insurance premiums; and
  • the combat of insurance fraud.

The connection with the Europa Group may be seen as a natural extension of the latter's focus on the provision of scooter and motorcycle insurance. This was the primary purpose for the group being set up in 1997, but since 2005 it has also expanded into van, car and general home insurance, principally through its partnership with One Quote Direct.

In addition to Octagon Insurance Company Limited and One Quote Direct, the Europa Group also markets motorcycle insurance under the trading name Motorcycle Direct and car and van insurance through its partner Wiser Choice.

Landlord insurance

If you own property that you intend to let, it may be essential that you examine very closely any home building and contents insurance you may have. The latter might be fine for protecting a property in owner occupation, but if the dwelling is going to be let, specialist landlord insurance is likely to be required.

If you need to make a claim on your standard home insurance and it transpires that the premises are let to tenants, your insurer is likely to dismiss the claim out of hand.

With landlord insurance, however, the structure and fabric of the building, together with the contents, are typically covered against such major risks as flooding, fire, storm damage, impacts, theft and vandalism. In addition, you are commonly protected by property owner's liability cover and the risk of losing rental income if the property becomes uninhabitable following an insured event.

Octagon landlord insurance

With its focus on the sale of van, car, scooter and motorcycle insurance, Octagon does not offer landlord insurance.

Within the Europa Group of companies, it may be possible to arrange home insurance, but it appears that this offers standard cover for an owner occupied home only. If you are looking for landlord insurance, therefore, you may need to look elsewhere.