Tag: van insurance

Meet your duty of care through telematics

Posted on by News Desk

While using the technology can bring excellent benefits such as reduced commercial van insurance premiums, there are other ways that switching your insurance policy to a telematics-based one – including meeting your duty of care responsibilities.

50 per cent of larger businesses operating in the UK that make use of large fleets of vans and other commercial vehicles are using the satnav-based technology in order to minimise their fleet risk while also meeting the duty of care requirements for their firm, according to a new YouGov survey. The research study questioned 100 chief financial officers, controllers, and financial directors for British firms that employed more than 1000 workers, discovering that fully half used telematics in their fleet vehicles in order to confer upon themselves extra levels of legal protection.

Firm directors are responsible to make sure all vehicles used by their employees whilst on the job are both insured properly and are roadworthy – and with health and safety legislation becoming more strict over the past few years, avoiding incidents that could lead to costly fines has become very important to many businesses, especially larger ones. Whether your vehicles are owned by the company or are owned by employees and used to conduct business, it’s simply legally and financially irresponsible to not have an auditable and comprehensive motoring policy set in place, motoring experts say.

One such driving expert, Keith Allen, commented on the results of the YouGov survey, remarking that it was ‘quite encouraging’ to see how many large-scale firms have taken steps to make their commercial fleets safer by adopting telematics-based insurance policies.

Could limiting top speed for vans lead to cheaper insurance?

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Limiting the top speed for vans and other commercial vehicles could potentially lead to not only safer roads but cheaper commercial van insurance as well, one insurer has recently said.

A major commercial vehicle insurance provider approved of a new report from the Freight Transport Association that found limiting a van’s top speed to just 70mph could be highly beneficial. Joe de Vries, the insurer’s representative, remarked that a top speed of 70mph would led to a reduction in the number of road traffic accidents because vans will be much safer in this instance – with the end result that insurance premiums for van owners and operators could drop by a significant amount.

Mr de Vries also pointed out that placing speed limitations on commercial vehicles by their manufacturers could also lead to improvements in fuel economy. Fuel consumption would be lowered by reducing strain on engines that can no longer exceed 70mph, and with the rising cost of fuel in the UK, this could also spell significant savings.

Moreover, maintenance and repair bills will likely be less expensive as well due to a limited top speed. Since engine strain will be less, many van owners will find their vehicles lasting longer between developing faults that need to be remedied. However, with the recent discussions and speculation in regards to the possibility of the motorway speed limit being raised to 80mph, this nascent measure to limit the top speed on the nation’s commercial vehicles may not be feasible after all.

Opponents to the idea of raising the speed limit say that traveling at high rates of speed are not only more dangerous, but will result in reduced fuel efficiency due to increased wind resistance.

Engine re-mapping may save on motoring costs, says expert

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One expert mobile auto electrician from Gloucester has recently recommended undertaking engine re-mapping for your commercial vehicle, as it can lead to less motoring costs in the long run.

Mottec Automotive’s Charlie Morgan says that a simple re-programming of a modern vehicle’s on-board engine control unit, once the purview of boy racers looking to squeeze a few more horsepower from their cars, has grown to be used by savvy motorists looking for better fuel efficiency. Commercial van drivers, hauliers, bus and coach firms, taxi firms, and fleet managers can all benefit from such an engine re-maping, Mr Morgan said, as it can deliver’ guaranteed substantial savings’ on the cost of diesel or petrol – leaving more cash for things such as van insurance.

It only takes one or two hours to complete the process, Mr Morgan claims, adding that doing so has no deleterious effects upon the warranty of a given vehicle. Moreover, as long as you do it in order to improve your vehicle’s fuel economy, the majority of insurance providers do not consider it a ‘modification’ that would result in increased insurance premiums.

It typically costs £225 and upwards to re-map an engine in order to provide fuel savings  of around 10 to 12 per cent, an investment that pays off after a short 10,000 miles, Morgan adds. The savings add up quickly with the amount of time you or your fleet of vehicles spend out on the road, especially with fuel costs rising the way they have; reducing CO2 emissions and making a tank of fuel last even longer can work out to significant savings once it’s all said and done.

45% of UK drivers name white van men as most aggravating

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According to a new survey, almost half of all drivers in the UK say that white van men are the absolute worst when it comes to aggravating drivers.

The poll, which surveyed 2,300 drivers, saw 45 per cent of respondents indicating that they were most annoyed by white van men. The second runner-up for most aggravating went to Mums making the school run in their 4x4s, proving that perhaps stereotypes have more than a touch of the truth in them.

However, most white van men refute the stereotype of the angry, inconsiderate driver, according to an independent study conducted by Tesco Bank’s van insurance division. 7 out of every ten van drivers reported never got into altercations such as shouting matches with other road users, while nearly three out of every four indicated that the appearance of their van was important to them, taking pains to keep the vehicles free of scratches and dents.

Tesco Bank’s managing insurance director, Julie Hopes, implied that the kinder, gentler white van drivers may be due to an increased number of women getting behind the wheel in order run their own business. The stereotype should be put to bed, Ms Hopes added, stating that it truly has been dispelled by the commercial van insurance provider’s research.

Some of the other cars found to be the most annoying were the more expensive ones. The survey found that 27 per cent of respondents held rancor in their hearts towards BMWs, while Range Rovers – and their owners – garnered an impressive 19 per cent of the hate as well.

White Van Man stereotype a thing of the past?

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The red-faced, shouting White Van Man stereotype may be a thing of the past, according to new research from one insurer poised to launch their own van insurance line.

Supermarket giant Tesco’s insurance division, which recently announced its expansion into commercial van insurance, surveyed van drivers themselves, discovering that 70 per cent of their survey respondents completely reject the stereotype of the angry, rude van driver.  Nearly three out of every four of those surveyed also said that they keep their van in good nick, making sure there’s no scratches or dents if they can help it.

It’s no longer just men who get behind the wheel of white vans, either.  Research undertaken by Tesco found that the number of female drivers has risen, with to 15 per cent of them working as florists and nearly 10 per cent as tradespeople.

Tesco Bank’s managing insurance director, Julie Hopes, commented that it may be time to park the old stereotype.  In fact, only 30 per cent of the commercial vans on the road are still white, with drivers adopting a whole rainbow of colours to differentiate themselves from all the others on the road, the research found.

Consumer demand for commercial van insurance has led Tesco to extend its insurance portfolio into the commercial vehicle market, industry experts say.  The insurance offering is designed to provide comprehensive cover for drivers, who now spend n average of seven and a half hours every workday behind the wheel, and the new cover includes many features as standard, such as foreign use cover, lock and key cover, legal cover, a courtesy van, mobile repairs, and a courtesy van.

Comparison site gives away free breakdown cover

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One major car insurance comparison website has recently announced it will throw in £59.99 worth of breakdown cover for free if you purchase a van insurance policy through the aggregator.

Breakdown cover is an important facet of motoring, as breaking down on the side of the road could lead to hundreds of pounds in out of pocket expenses if you end up having to be rescued.  With the economy in the sorry state that it is, many of us have had to do with much less, but industry experts say that eschewing breakdown cover in an attempt to make it less expensive to insure your car or van could end up being a false economy if it ever comes down to it.

However, with the new promotion, which runs from June 6 to July 31, means that you can reap all the benefits of having breakdown cover without having to worry about finding an additional £60 in your budget to pay for it.  When you add this to the amount you’re likely to save by using an insurance comparison website, you’re quite likely to significantly come out ahead of the game.

Comparison sites work hard to get you the best van insurance quotes so you don’t have to.  Gone are the days when you’ve had to ring up each insurer or broker, tell them your personal details, and then write down the quote they give you in order to compare it to their rivals; now you just put your details in once, right over the internet, and the comparison site pulls quotes from their panel of insurers, presenting them in a format where you can compare and contrast each quote to the others quickly and easily.

Tesco expands to van cover in its insurance offering

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While rumours are swirling about the possibility of some insurers leaving the commercial van market, one iconic supermarket giant has expanded its car insurance offering into the commercial van insurance sector.

The banking arm of Tesco, which already offers a range of financial products, has announced they are offering van insurance that boasts not only comprehensive cover but also includes a lifetime guarantee on repairs, legal cover, lock and key cover, a courtesy van, and mobile repairs, all standard.  Each van can have as many as eight drivers included in the cover, which is ideal for commercial vehicle fleets with floating drivers, and Tesco is also including more than three months’ worth of Eurozone cover as well.

The supermarket giant has certainly pulled out all the stops, especially for Clubcard customers, as Tesco offers a payment holiday scheme that can net as many as two months’ off from paying insurance instalments in a 12 month period.  Tesco is also offering public liability and employers’ liability insurance in an add-on bundle for customers that need cover for their equipment and tools.

Tesco Bank’s managing director of insurance, Julie Hopes, spoke out on the new offering, commenting that Tesco understands how integral it is for commercial vans to be kept running smooth for all too many firms in the UK.  Self-employed van drivers are in particular need of a comprehensive policy that offers excellent cover as standard as well, the supermarket giant said, adding that it’s not only AXA-underwritten tradesmen and van insurance policies that are available, as third party only and third party fire and theft are also on offer from Tesco as well.

Get off your mobiles behind the wheel – or else

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Enough is enough, one van insurance provider has recently warned its customers – get off the bloody mobile phone while you’re behind the wheel if you don’t want your insurance premiums to go up.

Swinton Vans has had it with those caught being convicted of dialing and driving, announcing that commercial van insurance policy holders can see their premiums go up by as much as double in such an event.  One driver saw an even higher increase, with a 128 per cent price hike of nearly £1,500 on top of their already relatively high annual quote of £1,147.60.

Van drivers need to know what the consequences are for being caught driving with the mobile phone up to their ear, Swinton Vans says, warning that the law does not differentiate between big companies and small business owners such as electricians, gardeners, and plumbers – anyone found not pulling over to take a call or to send and receive emails or text messages will be dealt with in no uncertain terms.  In other words, pull over or you’re going to run the risk of that phone call or text message being a very expensive one indeed.

Swinton Van Insurance’s commercial vehicle manager, Phil Moss, remarked that you need to think twice about using a mobile phone behind the wheel, especially since for many van owner, their vehicle is their livelihood – and having to suddenly pay double your original insurance quote could do more than ruin your day; it could place your whole business in jeopardy.

Cut back on your costs to offset insurance increases

Posted on by News Desk

It’s common knowledge that the commercial van insurance market is currently in an abysmal state, but you can cut back on your costs in other areas in order to offset any insurance increase you may be labouring under, experts say.

Van insurance industry insiders have come forward with quite a few top tips on keeping your outgoings as low as possible in the current economy, which is incredibly important as  instability in the eurozone and fears of a double-tip recession at home begin to solidify.  Worse is that rampant fraud in the insurance sector – from criminals making spurious and outright false whiplash-related insurance claims – are driving premium prices to eye-watering levels.

The good news is that there are things you can to do counteract this sometimes disheartening and seemingly inexorable rise upwards.  First off, experts say that if you’re not using a comparison site to shop around for the best quotes, you’re missing out on what could be some very cost-effective deals – especially since insurers typically hold their best rates in reserve for new drivers as a way to remain competitive.

Comparison sites make it much easier than ever before to find the best price, as all you as a consumer need to do is to input the details of your business or your personal information once.  The comparison site will then query its panel of insurance partners, pulling a multitude of quotes for you to compare all at once and against one another, thus saving you massive amounts of time – and quite often leading to saving significant amounts of money as well.

UK insurance industry turning itself around – finally

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The insurance industry in the UK is on the cusp of finally turning itself around, as car and van insurance providers are reporting a 106 per cent combined ratio, indicating that the nation’s insurers were almost out of the red for the first time in 18 years.

Deloitte said in a recent report that the insurance industry took in around £14 billion in premiums last year after the market grew by 10 per cent, leading to a relatively small underwriting loss (‘small’ in car insurance terms, at any rate) of about £600 million.  This may seem like a catastrophe, but the 120 per cent net combined ration from 2010 saw the industry losing shedloads more money, which means that things are actually looking up.

Expenses for the entire insurance industry amounted to 27 per cent of its total outgoings in 2011, which is quite low.  In fact, if it were not for the amount of its funds that went to settling claims – which was a massive 79 per cent – the profits would have been glorious for nearly everyone involved.

The reason that insurers did so well can be attributed to the rate hikes that we’ve all been suffering from.  However, it’s obvious that the money isn’t going to line insurance executives’ pockets, at least, as every spare pound apparently needs to be thrown at solicitors and claims management companies that are bleeding insurers dry – and by extension, their customers.

However, there are plans that are beginning to coalesce in order to get a handle on massive claims volume, especially whiplash-related claims, which experts say are responsible for £2 billion in costs in 2011 alone.  Hopefully these measures will have some positive effect on the insurance industry’s bottom line to the point where they can afford to drop their rates for personal vehicles and commercial vans and trucks alike.

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