Author: News Desk

Don’t go it alone: find a good guide for taking out cover

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The path to taking out van insurance is fraught with the kinds of pitfalls that can see you losing lots of money in a big hurry, so experts say you shouldn’t just stumble about in the dark: take a guide with you to make sure you get to where you need to go.

Just like you wouldn’t leave on a journey to some place you haven’t been before without getting directions or putting the address in your satnav, you shouldn’t go blundering about aimlessly when it comes to finding the best deals on van insurance, either.  There are an abundance of places you can turn to in order for guidance, with the best choice usually being a comparison website that offers specialised information on commercial van insurance as well as how to keep your motoring costs from going through the roof.

While taking out cover for a commercial van is similar to the process that you go through in taking out personal car insurance cover, there are several differences that you need to know about prior to signing any contracts.  A guide will help explain what these differences are and guide you towards the best choice for your needs, which can save you cash in the long run as you’re not purchasing cover you don’t need.

With the current economic landscape being as uncertain as it is, business owners are not in any sort of position to be throwing money away.  You need cash to keep your firm afloat, whether you’re providing goods or services to your customers, as you’ll need to pay your employees and all your other operating costs, such as filling your van’s tank; and with the price of fuel on a seemingly unending spiral upward, every last pound you’re not spending on superfluous insurance cover is one you can spend at the petrol pump.

AIG planning to drop out of the UK insurance market?

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One major insurance industry player says it is thinking long and hard about whether it will stay in the UK market or flee with its tail between its legs, according to a th words of one of the company’s executives.

Insurance Australia Group’s chief executive and managing director, Mike Wilkins, said that AIG will be conducting a ‘strategic review’ of the firm’s UK arm in the face of improvement in the British economy.  AIG’s UK division saw £3.2 million in losses in 2011’s second half, which may seem like reason enough to abandon the country, but this is actually a vast improvement to the second half of 2010, where the business lost
£77.4 million.

While the insurance group is still thinking over its options, they include either focusing the firm’s strategy to a specialised motor insurance offering or even selling off the entire business either in part or completely.  The UK assets for IAG include stakes in Barnett & Barnett and Arista, and the group owns Equity Red Star as well.

IAG needs a return to profitability in its UK businesses, Mr Wilkins said. The insurance markets in the UK are particularly nightmarish at the moment, leading to shareholders exerting pressure upon the firm to deliver better value for money, and with the progress IAG has made in reducing the massive fountain of cash that has been flowing from its arteries in the UK, now may be the best time to re-assess the firm’s longer term plans, the chief executive added.

 

Commercial insurance market conditions are nightmarish

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The current market conditions for business owners that have to make sure they have the proper cover in place are positively nightmarish, made even worse by how relatively low they’ve been prior to these ubiquitous rate hikes – leaving many business owners crying to the heavens for an answer – or a way to avoid all the pain.

Van insurance prices have rocketed as of late, something that can be blamed on several different factors.  Profit margins for insurance providers are being eroded steadily as a result of a massive uptick in the number of motor insurance claims involving car crashes where personal injury plays a part, sending insurers scrambling to recover their outgoings by raising their rates for all their commercial van insurance and personal car insurance customers.

Claims management firms have been having a field day in soliciting injured motorists to make claims against insurers for massive payouts – in order to take a generous slice for themselves, of course.  Guess where these claims management companies are getting their information from in regards to which house to call or which mobile phone to text with their unsolicited enquiries?  That’s right, the insurance companies themselves.

Insurers actually sell on the personal details of their customers who have been involved in accidents where the other party in the incident is covered by a competitor.  They call the process ‘charging referral fees,’ but most people would call it ‘hanging the industry out to dry,’ especially as each insurer does it to every one of their competitors, resulting in increased claims across the board.

Steps have been taken by the Government to bring a halt to the practice, but for many, the damage has already been done.  Claims figures are up by nearly 70 per cent over the past few years, even though the number of accidents that have actually occurred have dropped by around 23 per cent.

Handy guide launched for comparison site shoppers

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One major comparison website has come forward with a handy guide chock-full of top tips for cutting down your van insurance costs in the current economy, it was recently revealed.

While it seems you can’t swing a cat without hitting a comparison site nowadays, it’s quite commonplace to find one that tries to distinguish itself from the rapidly growing pack by offering added value.  Many choose to diversify the options they offer consumers, such as allowing people to do all their home and life insurance shopping as they do their van and car insurance as well, while others offer tips and strategies for keeping your costs down – something that has become incredibly popular lately with the eye watering petrol prices a veritable plague upon us all.

One new guide has recently been put out there, free for everyone, and has been tooled to be of particular interest towards anyone shopping for commercial van insurance – especially those going into business for themselves for the first time.  The guide examines the several different use categories that you need to be aware of when taking out van insurance, since it’s one of the things that controls how much your policy is going to cost, and the list provided by the guide is exhaustive in the variegated factors that can cause a quote to go up and down like a funfair ride.

It can be incredibly frustrating, trying to find the best cover at the cheapest price, especially in a world that has so many variables to take into account.  Many people who have tried shopping for cover have begun to pull their hair out after trying to navigate the treacherous waters on their own, but now help is at hand for anyone who feels frustrated to tears, thanks to comparison sites that offer added-value guides.

Van insurer hunts down the favourite sandwich of drivers

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Proving that it might be a bit of a slow news week indeed, one of the leading van insurance brokers in the UK has conducted exhaustive research in order to discover, just in time for British Sandwich Week, that the classic BLT is the favourite sandwich of van drivers everywhere.

With a hunger to get at the bottom of this particular mystery, Swinton, which offers those who need commercial van insurance their services in finding the best insurer for their needs when they’re not plumbing the gastronomical depths of their customers, conducted a highly rigourous and scientific online survey of 1,000 of their customers to get to the truth of the matter.  The Insurance broker found that three out of every ten of their famished respondents had a soft spot in their hearts for the BLT over any other classic sandwich.

The online poll did uncover other shocking information, such as the runner-up with a full 25 per cent of the vote being the classic ham & cheese butty, followed by the coronation chicken sandwich with 1 out of every 5 hungry van drivers selecting it as their favourite.  Alas, the bottom three choices were found to be the otherwise quite satisfying corned beef sandwich with only 12 per cent of the vote, the tuna and sweetcorn (which was only popular with 1 out of every 10 van drivers), and the ultra-unpopular Ploughman’s Lunch, which netted a paltry 3 per cent popularity rating.

Swinton’s commercial vehicle manager, Phil Moss, commented on the research findings, remarking on the excellent opportunity British Sandwich Week is for sandwich lovers to celebrate everything the enjoy about their beloved UK classics. Mr Moss expressed interest to see which of the nation’s classic sandwiches top the charts for van drivers, especially with the BLT emerging as the runaway hit with nearly one out of every three drivers.

Transprt for London’s new fuel management campaign in full swing

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Last month, Transport for London launched its new campaign to minimise environmental damage caused by idling commercial vehicles and encourage truck and van drivers to manage their fuel more efficiently, and industry experts report that the new campaign is in full swing.

The DfT has been pushing for UK road haulage changes such as encouraging drivers to switch to biofuels or electric vehicles, taking steps to earmark funds to continue their partnership with the Technology Safety Board in developing further incentives.  Suitable refuelling infrastructure needs to be developed for the emerging breed of trucks and vans powered by alternative fuel sources, Roads Minister Mike Penning added, remarking that the nation’s dependence on petrol and diesel fuel has been crippling drivers almost as high car insurance and commercial van insurance rates have been.

The TSB’s Low Carbon Vehicles Innovation Platform has been the research and development programme responsible for developing low carbon emission technologies for the Gorvernment, and is currently jointly funded by the Engineering and Physical Sciences Research Council, the Department for Business, Innovation and Skills, the TSB, and the DfT.  Launched nearly five years ago in September of 2007, the platform has since been the source of various research projects with an aim towards low- or zero-emission technologies.

Industry experts say that, given the funds to construct the infrastructure essential to refuel low and zero emission vehicles are made available, progress can be made to reduce the amount of carbon pollution and to also make commercial transport much more affordable as well.

Save on van insurance – and many other financial products

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When most people think of using a comparison site to save money, they’re usually looking to manage the costs of either their van insurance or car insurance – but industry experts say there are many other ways to save through the use of one of these websites.

While it is true that many of the aggregator websites currently proliferating across the internet could be referred to as ‘niche’ websites, the lion’s share of these comparison websites aren’t one-trick ponies.  You might initially go to one of these sites to look for ways to manage your motoring costs by finding budget van insurance – especially with petrol and diesel prices going through the roof – but you can oftentimes find deals on other financial products as well that could see you saving even more cash.

In an excellent example of coming for the motor insurance savings and staying for the opportunities to spare your wallet even more, independent research has found that nearly everyone can make some impressive savings if they use a comparison site to look for less expensive home insurance.  Other services that can be helpful include finding a less expensive option when it comes to pet insurance – and anyone who’s had to suffer through a beloved family pet with an expensive illness can attest to how financially disastrous that can be – and as expensive as pet insurance can be, it pales in comparison with what you might need to shell out for health or life insurance.

However, most comparison sites can be seen as your one-stop-shopping destination for many different financial products.  Some comparison sites even allow you to compare credit card offers from different financial service providers – and in this economy, switching to a card with less expensive charges and fees means you can keep your car or van on the road just that much longer.

Comparison site adds new insurer to its panel

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One major comparison website recently announced it was adding a new specialist broker to its car insurance panel, industry experts recently reported.

Flux Direct, the broker in question, specialises in providing insurance for nearly every vehicle on the road today, from providing insurance cover to supercars, modified performance vehicles, classic cars, or commercial van insurance.  Flux Direct has decades of niche motor insurance cover markets, providing what many industry experts have called a ‘lifeline’ to those who have struggled in the past to find affordable insurance cover.

The comparison site’s director of insurance partnerships, David Jackson, commented on the announcement, remarking that Flux Direct brings an added dimension to the comparison site, as it will aid the aggregator to extend its offerings to even more customers.  Mr Jackson expressed his pleasure that the new addition will enable the comparison website to provide additional options to customers looking for competitive insurance quotes.

Comparison sites typically provide more than simple personal car insurance, as customers can find deals on may different financial products.  Most comparison websites offer not just personal and commercial vehicle insurance but products such as credit cards, pet insurance, life insurance, and home insurance, and also offer comparison services for digital television, broadband, phone, gas, and electricity utilities.

The financial services market has shifted in a fundamental manner thanks to the advent of comparison sites.  Consumers no longer need to spend time and energy seeking out quotes from individual providers any more, instead simply allowing a comparison site to do the legwork for them.

Compare van insurance quotes for the best prices

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With costs seeming to be marching inexorably upwards, it can often be quite shocking when it comes time to renew your commercial van insurance cover, but industry experts say that if you take the time to compare van insurance quotes through the use of a comparison website, you can make some significant savings.

There are many advantages to using a comparison site in order to provide you with several quotes at once.  One of the best reasons to do so is that you will be saving time in addition to possibly saving money, as no longer do you need to go through a sea of insurers to find the best quote, putting your personal details in time after time on their websites, and instead only have to do it once before being furnished several quotes.

Even better still is that shopping around will most likely result in you finding a much more affordable price quote than you’re currently paying.  Insurers almost exclusively reserve their best deals for new customers in order to remain competitive, which means that sticking with your current insurance provider is quite often not the most cost-effective option – and that your loyalty is most likely going unrewarded.

If you’re going to be using a comparison site, industry experts say that you do need to keep a few important things in mind.  Many times the least expensive quote is not the best option, as each insurer offers different features with their ‘comprehensive’ cover.

If you’re going to need breakdown cover or the ability to get a replacement vehicle without paying out of pocket, you should make sure to select an insurer that will offer these things to you.  Likewise make sure that you’re not selecting a voluntary excess that would be too expensive to actually pay if you do find yourself in an accident in order to avoid the up-front savings becoming a false economy down the road.

Don’t neglect insurance if you’re running a courier service

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The complexities of running a courier service or similar sort of business cannot be understated, experts say, but don’t forget amidst purchasing a van, finding clients, and making your profit, that you’ve got other obligations – such as taking out van insurance.

You simply can’t run your business legally (or safely) unless you buy van insurance with an eye towards cover for courier service firms.  Any business that carries goods for hire needs advanced cover, especially as you’re not simply carrying your own goods or transporting things to be sold at a remote location, but you have the responsibility to safely deliver items owned by others, and necessitates much more nuanced insurance cover than a standard policy.

Much like any type of commercial vehicle insurance, the number of options to choose from when it comes to courier insurance are high.  You’ll have to make the decision concerning whether you’ll take out comprehensive cover or simply go with third party cover, and you will also need to decide whether you will have an ‘any driver’ policy or if you wish to simply add named drivers to your cover, and you’ll need to make myriad decisions such as whether to protect a no claims discount, what level of voluntary excess you will select, whether you’re going to select glass cover, and if you’ll pay extra for a replacement vehicle in the event of a road traffic accident or a breakdown.

One way to save may be to not select courier insurance but instead take out a light haulage policy.  However, not all firms will have light haulier cover on offer, as it is often restrictive in such a way that you can only carry a set number of loads on a daily basis, with a good number of policies limiting cover to jobs booked in advance.

Another wrinkle is that there are some transport firms that have a preference to working with drivers that have courier cover rather than light haulier cover, so make sure you do your research before making a final decision.

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