VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 20 FEB 2015:

The Association of British Insurers says that the Government simply isn’t doing enough to bring down the costs of car insurance and van insurance for Brits.

Britons have had it up to here with high insurance premiums, the ABI said recently, and it has pointed the finger squarely at the Government for neglecting to move forward on reforms that would have aided the industry in bringing down the cost of insurance for everyone. When it comes to issues like unresolved reforms on the small claims track limit and the driving licensing regime, ABI director of general insurance policy James Dalton said that more has to be done to strip away unnecessary costs that are limiting the market. Doing so will help bring down insurance premiums, especially for younger drivers, Dalton added.

Premiums for both personal car insurance and commercial van insurance would plummet if the Government would increase the small claims track limit, the ABI says. Meanwhile a lack of the Government moving forward on changing testing and training for young drivers is making the roads more dangerous than they have to be, jeopardising the lives of younger motorists, and keeping their costs astronomically high, Dalton also said. A graduated driving licence regime would likely go a long way to resolve such issues, the ABI director said.

While the reforms to how younger drivers are taught to act behind the wheel is likely a help – especially if this ends up dropping the costs of their insurance as a result – I’m not quite as convinced about the small claims track limit. I’m sure it will help insurers keep their costs down, as more car insurance claims will go through the small claims system instead of being dealt with by high-powered and expensive solicitors, I also have a sneaking suspicion that this could deny access to justice for those who need it most – those injured in car accidents. Just how high the cap would be raised is one of those things that could make or break such an initiative, if you ask me.

I suppose we’ll see if the Government responds to the ABI’s criticism. I wouldn’t hold my breath if I were you, though.

VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 16 JAN 2015:

Well if this just doesn’t prove my point that you’re damned no matter what you do: new research says that when petrol prices drop, insurance premiums rocket.

That’s right, ladies and gentlemen, you heard it here first: you officially can’t win. If you’re finally relieved to see you’re not suffering any more pain at the pump due to petrol prices dropping like a stone, you can look forward to your car insurance or van insurance rising to compensate for the sudden extra cash you had. Imagine how bad fleet owners feel after having to pay even more for their commercial van insurance cover, after finally breathing a sigh of relief that their fleet of commercial vehicles won’t be burning a hole in their pocket at the petrol pump!

So how does it work? Well it’s ridiculously simple, actually. As petrol prices come down, insurers figure that this means motorists will have more cash to devote to filling their tanks. This works out to drivers feeling like they can motor about more than they do when they’re suffering from high petrol prices, so insurers decide that the roads will inherently be more dangerous because everyone’s out and enjoying a nice day or two just driving about without having to worry about taking out a mortgage to fill their tank at the end of the week.

It makes sense statistically but it’s truly frustrating for drivers, don’t you think? Also, it’s not like rates go up that much during times of cheap petrol – research says that over the last three months as petrol prices dropped insurance costs went up by a paltry 2 per cent – but it’s the principle of the thing that rattles my cage. Can’t we just enjoy the fact that we’re not being squeezed at the pump without our insurance companies trying to squeeze every last penny out of us?

Do you know what a 2 per cent rise equates to on average. £12 a year. That’s not much individually but taken altogether with millions of motorists that adds up quickly. Does the insurance industry really need that much extra cash? What are they doing with it all anyway besides trying their best not to pay out on fake whiplash claims?

VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 9 JAN 2015:

Unbelievable: new research from the Society of Motor Manufacturers and Traders says that the number of new vehicle registrations hit a 10-year high last year.

So this is some brilliant news for carmakers and car insurance providers here in the UK, with some 2.476 million cars sold in the country over the course of the last 12 months. This is the highest figure since 2004, and it’s also a 9.3 per cent increase over 2013 figures as well.

Yes, well done car buyers, good for you! Guess what, though? With those 2.475 million new cars getting sold in the UK this year there were 2.476 million new insurance policies taken out as well. That’s a pretty big bump, and it could lead to either good news or bad news for the car and van insurance marketplace.

So here’s the first scenario: insurers were so chuffed by having the influx of new policies – more than 9 per cent more than last year, after all – that the extra revenue collected from premium payments has filled their coffers. The result: cheaper insurance for everyone in the UK, huzzah!

Doesn’t sound likely to you? Yes, me neither. It’s far more likely that these insurers will see this as the beginning of a trend where there will be increased demand for their services going forward. And you know as well as I do when demand goes up while supply stays the same: prices go shooting into the stratosphere. In other words, all these bastards buying Ford Fiestas and Vauxhall Corsas are effectively driving up the prices for everyone else, including personal and commercial van insurance customers, simply because there’s just so many more of them from last year.

In other words, hold on to your wallets, blokes – I’m reasonably sure that when you renew your policy this year you’re going to see that prices have gone up across the board. I mean there was already some evidence of this happening as of a few months ago, but now this absolutely seals the deal – or at least I think it does, anyway. But then what do I know?

VAN INSURANCE NEWS ROUNDUP: 7 DAYS ENDING 2 JAN 2015:

Think dodging car insurance or van insurance is a low-profile crime? Think again – police forces around the UK are dealing with it in a public, humiliating way.

Sooner or later you’re going to run into some genius who thinks they can get away with not having their car or van insured. It’s a victimless crime, they might say, or that it’s such a private matter that no one will know. Well, if you’re thinking of following in their footsteps with your own car or commercial van insurance cover, think again – the police will find you, seize your vehicle, and shame you by putting it on display for all the world to see.

Or at least that’s what’s happening in Cheshire. The police in the town of Widnes have kicked off a campaign to raise awareness about what happens if you don’t pay your insurance premiums, and it involves putting seized vehicles on display for the world to see right outside Widnes Police Station.

For what it’s worth, I hope a programme like this spreads not just across Cheshire but the entirety of the UK. A nice, high profile reminder of how you can get your vehicle taken away from you if you think you’re above the law? It’s brilliant, and I can’t even begin to tell you how much I’ll relish licking the salty tears off the cheeks of all those numptys who think they were getting one over on all of us only to have their precious cars and vans forcibly taken from them.

Honestly now, you can’t say that you don’t know what happens to you if you wander off without bothering to pay for proper insurance on your vehicle. It’s bloody mandatory, for pity’s sake – and not only that, police have specialised equipment now to determine if you’re motoring about without proper cover now. There are databases that are linked with the insurance industry that the police have access to without even having to step out of their own vehicles. In other words, you will be found out and if you keep up with it you will end up getting your own vehicle seized. On top of that, you’ll have some hefty fines to pay – and now everyone will know what a skiving bastard you are.