Tag: insurance fraud

Surge in Van Insurance Costs: What’s Driving the Increase?

Posted on by News Desk

Introduction

Have you noticed a spike in your van insurance premiums?

You’re not alone.

Across the UK, van drivers are grappling with rising costs.

But what’s driving this uptrend?

Factors Increasing Van Insurance Costs

Van insurance costs are influenced by a myriad of factors, each interplaying to set your premiums.

Understanding these can help you navigate the complexities of insurance rates.

Vehicle Type and Security Features

The make, model, and age of your van significantly dictate your insurance premiums.

Modern vans equipped with advanced security systems tend to attract lower premiums due to reduced theft and vandalism risks.

Learn more about the impact of security features on your premiums here.

However, older models or those lacking adequate security features can see higher insurance rates.

Driver’s Profile: Age, Experience, And History

Your driving profile is critical in determining insurance costs.

Younger, less experienced drivers typically face higher premiums due to an assumed higher risk of accidents.

Conversely, older drivers with clean driving records enjoy lower rates.

Insurers heavily weigh your driving history, including any previous claims or penalties, to assess their risk in insuring you.

Check out how your driving history affects your insurance costs.

Location And Vehicle Usage

Where you park your van overnight and the regions you frequently travel to can also impact your insurance costs.

Urban areas, known for higher theft rates and traffic incidents, often lead to increased premiums.

Additionally, the primary use of your van—whether for personal or business purposes—plays a significant role.

Vans used for commercial activities might incur higher insurance costs due to increased mileage and the nature of goods transported.

Insurance Group Ratings

The insurance group rating of your van also affects your premiums.

This rating reflects the cost of repairs and the likelihood of theft, among other factors.

Higher-rated vans typically carry higher premiums due to these associated risks.

Understand more about insurance group ratings and how they affect you.

Economic Factors and Market Trends

Broader economic conditions and industry trends significantly influence van insurance rates.

During periods of economic downturn, insurance companies may raise premiums to cover increased risks and operational costs.

Additionally, gaining an understanding of these market dynamics can offer valuable insights into potential future changes in insurance costs.

External Factors Contributing To Van Insurance Increases

What’s affecting your wallet?

Economic factors play a pivotal role in shaping insurance costs.

Why pay more?

During times of inflation or economic uncertainty, insurers might increase premiums to mitigate risk.

Feeling the pinch?

Rising costs of vehicle repairs and replacement parts are also pushing premiums higher. More expensive materials and labor mean higher costs for insurers, which often gets passed on to you, the policyholder.

Can you believe this?

Unfortunately, fraud is another significant factor. Staged accidents and false claims drive up costs for everyone. Insurers need to recoup these losses, leading to higher premiums across the board.

Strategies To Reduce Your Van Insurance Costs

Looking for savings?

Always shop around.

Comparing quotes from different insurers can reveal more competitive rates.

Want lower payments?

Opting for a higher voluntary excess can reduce your premium.

Remember, this means you’ll pay more out of pocket if you make a claim.

Concerned about theft?

Enhancing vehicle security by installing additional measures, like alarms or immobilizers, can deter theft and may lower your insurance costs.

Hoping for discounts?

If you have a no-claims discount from another vehicle, see if you can transfer it to your van insurance. This could significantly reduce your premium.

Conclusion

Ready to take control?

Understanding the reasons behind rising van insurance costs can empower you to make more informed decisions and potentially find savings.

Need more tips?

While we can’t control every aspect that affects premiums, being proactive and educated about your insurance choices can lead to better outcomes.

Why not start now?

Visit our blog for more insights and strategies to save on van insurance.

By staying informed and actively managing your insurance needs, you can navigate these challenging waters more effectively.

Flames, Frames and Freemen

Posted on by News Desk

Should Freeman pay for Van Insurance?

We’re only two weeks into January, yet the headlines surrounding van drivers seem to become stranger and stranger…

Let’s start with news from Wales.

This story isn’t as weird as it is disturbing, so get ready to grit your teeth. 

Flames And Frames In Wales

Unfortunately, desperation can often get the best of us, but for Mr Sean Clarke, it’s safe to say it consumed him. 

In a hopeless bid to cash out on an insurance claim, Mr Clarke thought he would try to frame one of his friends for setting a van alight.

Not just any old van mind, but a lovely Vauxhall Combo van.

The clearly troubled Mr Clarke had hoped his story of his giving the van’s keys to his friend would suffice with the authorities, but of course, it wasn’t.

The police followed up quite thoroughly and came to the obvious conclusion that Mr Clarke had, in fact, set the van on fire himself.

With 12 offences under his belt already, we sincerely hope Mr Clarke gets the help he needs to turn his life around.

To read more about this story, you can catch it here.

Freemen Of The Land Should Pay For Their Van Insurance Too

So, here is where it starts to get strange.

The first thing we should do is disregard the plural here.

This story is more about a ‘Freeman’ rather than a bunch of them. 

In Staffordshire’s Woodville, police had a laugh after stopping a van driver without insurance.

The driver claimed that as a “Freeman of the land”, he did not require van insurance.

In his head, simply refusing to consent to the laws in the UK meant he didn’t have to follow them. 

Sure, sure… Makes total sense.

Unfortunately for the “Freeman”, the police officers did not see it his way.

This inevitably led to a lot of police time wasted after he refused to exit the van, but he was arrested in the end. His lovely black Vauxhall was also seized, too.

If you’d like to read more about the “Freeman”, you can do so right here.

I’m No Freeman Or Flameman, But Would Like Cheap Van Insurance Deals, Please

Well, it’s good to have you on board, friends.

If you’re a simpler person like us and would rather avoid the hassles of flames, framing and Freemen, then you’re in the right place.

We’re here to treat you to the best and cheapest van insurance deals around.

All it takes to begin your journey is to complete this quick 3-minute form.

Cash for crash ruining van insurance rates?

Posted on by News Desk

Cash for crash scams are poised to absolutely ruin the van insurance industry, driving up rates for legitimate drivers – and one man has had enough.

In fact, a van hire firm owner from Bolton, Stuart Lever, has gone on the warpath in a major way. He was interviewed both on BBC Radio 5 Live and on the BBC Victoria Derbyshire news about this very subject. He’s on a quest to put cash for crash criminals on notice, especially since he and his company have been targeted in the past by these fraudsters.

In fact, Lever had to fit his rental vans with tracking tech in order to dispute fraud claims made against his company. He was able to walk away unscathed after the fraudster reported the made-up accident occurring at a location that his van simply wasn’t, based on the tracking data.

Still, the fact that he had to go to such lengths to stop fraudsters in their tracks makes the man’s blood boil, he said. Everyone thinks it’s just  big laugh when you rip off a car insurance or van insurance company, he remarked, but fraudulent claims ratchet up the premiums of companies that rely on fleet insurance – sometimes enough to drive them right out of business.

Thankfully, things have gotten better for Lever and his firm. Prior to fitting his fleet with the tracking technology, he would get something like four claims a year, but after catching the last fraudster in the act he hasn’t had one claim come across his desk. Still, he says that motor vehicle insurance fraud needs to be clamped down on by the police before other businesses succumb to the practice.

For what it’s worth, I can’t agree more with the bloke. When it comes down to running a company that relies upon a fleet of vans, cars, lorries, or whatever else you want to put on the road, having to field a barrage of cash for crash claims is more than just a headache – it’s a threat to your company’s survival. That’s not to say that insurers aren’t completely innocent either, but it’s obvious in this case that fraudsters have been making this small business owner’s life completely hellish for far too long.

For what it’s worth, I hope Lever’s message gets out over the airwaves loud and strong. Insurance fraud is horrid as it drives up premiums for people innocently targeted by it, and it’s already expensive enough to keep a motor vehicle on the road without having to worry that you’ll be a victim of it.

 

Do yourself a favour and stay off the roadways!

Posted on by News Desk

Some days it just doesn’t seem like it’s safe to get out of bed in the morning, much less go out and take to the nation’s roadways. Today is one of those days.

Why is it so dangerous to go motoring about nowadays? Well apparently because the worst driver in the history of the UK – some magnificent bastard with 45 penalty points on his licence – is being allowed to drive about with relative impunity!

For most normal individuals, we can kiss our ability to drive goodbye if we accrue a measly 12 points, but not so for this Liverpool native. Apparently there’s a loophole where you’re allowed to keep driving if having your licence suspended would subject you to ‘extreme hardship’ or some other bollocks. Well that’s all fair and good but what about the rest of us who have to share the road with this madman? Furthermore, how does this bloke even afford car insurance at this point – and even more to the point, what insurance company is going to offer this madman cover with 45 bloody points on his licence? Did he have to remortgage his house in order to afford a year’s worth of insurance?

But there is one small bright light shining through such a morass of madness this week; in addition to the news of the worst Brit to ever climb behind the wheel comes some indication that insurance fraudsters are beginning to be rooted out by the authorities.

Truth be told, fraud hurts us all, not just car or van insurance companies, as the increased costs that an insurer pays out on fraudulent claims ends up being funneled back to its customers in the form of increased premium prices. However, since it’s in the best interest of insurers to strike back at fraudsters there has been a concerted effort to eradicate insurance scam activity – and one company recently announced that 2013 saw it avoiding having to pay more than £37 million in fraudulent claims.

It’s a good start, and as long as this kind of investigation is kept up I can’t see how we can’t start seeing some cheaper insurance rates sometime soon in the future. Well, cheaper rates for everyone except the lunatic with 45 points on his licence, I’m assuming. I swear how in the world do you get 45 bloody points on your licence?

This is why your premiums keep going up every year

Posted on by News Desk

CAR INSURANCE NEWS ROUNDUP: WEEK ENDED 10 mar 2013:

If you’ve ever wondered why your commercial van insurance premium keeps going up every year, it turns out that we’re all being victimised by criminals.

Whether it’s the van insurance or car insurance industry, the prevalence of insurance fraud has reached epidemic proportions in the UK. In fact, a new report issued by the Association of British Insurers recently revealed that when it comes to claims costs, the money paid out on personal injury claims is by and large the biggest cost to insurance companies – and they turn around and charge you and me in order to make up the ever rising shortfall.

An absolutely huge proportion of these costs could be, in fact, originating from completely spurious claims, and nowhere is this more a possibility than when it comes to whiplash injury claims, as the injuries are notoriously hard to disprove. The ABI estimates that at least £90 of every driver’s insurance cover goes directly towards the costs of paying out all these fraudulent claims, and with some 1,500 claims rolling in to the nation’s insurance companies each and every day, any number of these could be completely fabricated by ‘crash for cash’ scammers looking to pull the wool over our eyes and get away with vast sums of cash.

And if you think it’s a victimless crime, think again: on top of the kinds of woe we all have to put up with in scraping together the cash to keep our van or car on the road every year, scammers that cause road traffic accidents can often cause massive real injuries to innocents. In fact, one poor woman lost her life thanks to one instance of fraud gone terribly wrong.

The incident occurred in Buckinghamshire on the A40 recently, where three men in a Ford Transit van purposefully got themselves into an accident by slamming on the brakes, sending the car behind them, 34 year old Balinder Kaur Gill’s Ford Fiesta, to shunt them from behind. The plan was to then make a claim to Ms Gill’s insurer for the vehicle damage and the ‘whiplash’ the three men suffered, but in a flash that all changed when Ms Gill’s vehicle was struck from behind in turn, this time by a Renault van that was traveling at speed, slamming into the Fiesta with such force that the woman was slain instantly – all because the three in the Ford Transit wanted to make some quick cash.

I simply can’t believe how reckless and selfish some people can be. Leave off with the cost in insurance that people like the men in the Ford Transit cause – the loss of life is absolutely reprehensible and I can only hope and pray that the Government does something about this serious whiplash fraud problem in order to prevent such tragedies in the future.

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