Archive for Commercial Van Insurance

Builders Insurance Anyone? White Van Man Is Taking Over

Is it just Insurance Blog or has the whole country gone mad building things?

From the amount of adverts for insurance for builders and tradesman that flood the TV intervals and blast across the radio airwaves during events like football, one could be easily mistaken to believe that the UK was in the midst of some great housing and construction boom where everyone has suddenly put on a yellow plastic hat, white overalls and bought a white van!

“Don’t forget your public liability!” is the battle cry to the Sun reading hoards.

Now don’t start on me, the latest Direct Line advert for combined Builders Liability and Van insurance has employed what would only have been described in the 17th Century as the Village Idiot in the starring role.

Stereotypes such as those used by Aviva in its regional ads featuring Paul Whitehouse were bad enough! Every village has an idiot and these days lots of cowboy builders< do exist - we all at some time have met, or to our detriment employed a builder called Steve, but even in the 17th century Builders (Masons) were far from idiots!

So why the sudden rush and millions of pounds spend in advertising builders insurance, to build up a book of insurance in a sector that is actually shrinking in size and contributing to the 8.7 milion pool of unemployed!

The housing market is stagnant, the shelves of the big out of town DIY centres are full and everything is on offer, planning applications now only fill a small space in the local paper, land with agreed planning permission for building is standing idle as set aside full of pretty spring wildflowers, its very difficult to get a home improvement loan and the UK’s credit rating has just been downgraded.

So why are all the big insurers after this market? Perhaps because they have learnt to their cost that managing a business liability book and a motor book at the same time is much more costly and uncertain than they had anticipated!
Was it not Liability claims losses that were recently blamed by everyone for the rising cost of car insurance?

“Higher Car Insurance Premiums Anyone?”

Small Business Insurance For Motor Trades and Traders

Motor Trade Insurance For Small Business Explained

Thousands of people are employed in motor trades in the UK from car washers to mechanics, used car dealers to mobile car tuners, garage owners to coachbuilders, and the list goes on…

The number of motor trades is expanding as fast as the technology. Insurers now have to cope with motor trades as diverse as ‘telematics black box fitters’ to ‘remote crypton tuners’. However complex it may seem to a new mobile mechanic looking for cover, commercial motor trades insurance is actually a straightforward and optional component based risk as Dave Healey explains……………….

If you work in trades associated with cars or the automotive industry there will likely be times when you will need to drive cars that don’t belong to you. For example moving new stock around in a car dealership or test driving a customers vehicle after you have carried out some service or maintenance on it.

Driving cars in this manner for business purposes clearly cannot be allowed under a normal private motor insurance policy, however it would be impractical if not impossible to add named vehicles onto any type of policy in the course of your normal days work.

Road Risks Insurance

For this reason a special class of commercial motor insurance exists called motor trade road risks insurance. The cover this policy provides satisfies the Road Traffic Act to enable the policyholder to ‘drive any vehicle’ in the course of their business, and if they choose for social, domestic and pleasure purposes as well.

A motor trade policy offers the most flexible driving cover available and nearly every scheme can be tailored to a particular motor trade’s road risks.

Road risks insurance is calculated differently from private motor premiums where the declared value of a car is used for rating. In a road risks policy the trader sets a level of indemnity or amount that he wishes to cover himself for driving other vehicles. This could be as little as five thousand for a part-time used car dealer or mechanic up to a hundred thousand for a valet in a Ferrari Dealership for example.

A new car dealership of prestige cars would need a policy that not only covered the cost of replacing a new car should it be written off but also an extension to cover members of the public test driving the car accompanied by a named driver. However a used car dealer working from home or a mobile mechanic would only need basic road risks cover with perhaps a tools cover extension. Many road risk policies vary in what is considered basic cover and motor traders should be aware of extra covers such as legal protection and windscreen covers, as they would with a normal motor insurance policy.

Motor Traders with premises such as forecourts or shops will require what is known as a combined motor trader policy. This is simply a basic road risks policy allowing employees and named drivers to drive any vehicle combined with other risks that a motor trader might face, such as liability and property damage.

Motor Traders Liability Insurance & Combined Covers

Liability insurance forms the basis of a combined motor traders policy, in particular product and public liability which covers your business against claims from members of the public to who you have supplied services or parts or who have suffered injury whilst visiting your premises.

If you employ any staff in either workshops, garages offices or out on the road in commercial vehicles or vans, you are required by law to have employers liability insurance cover in force. This cover protects your motor trade business against claims from employees and staff who might suffer an accident at work and claim against you in the courts.

Full combined motor trade insurance policies offer motor traders buildings and contents commercial property insurance cover for garages, workshops, office contents, machinery such as car lifts and compressors and tools, shop cover and stock.

Additional options such as business interruption insurance is available to cover catastrophe situations such as a fire where you may lose all your stock, or group personal accident which will cover members of staff against accident and sickness.

Anyone who works in the motor industry can apply for a motor trade insurance policy. Policies are available for car dealers, car valets, parking attendants, mechanics, body repair shops, service garages and motor parts shops, to name but a few trades eligible.

Motor trade cover is available to all small businesses including sole traders without premises and people working from home and on a part-time basis.

Compare quotes from a few companies before you buy a motor trader insurance policy. Premiums vary widely however the best UK commercial insurance brokers have access to a wide range of specialist motor trades schemes and Lloyds underwriters, which are invariably much cheaper.

Originally published by: for Insurance Blog

Van Insurance – Stalking White Van Man is taking over the UK!

You either love them or like me, hate them, but there is no denying that you can’t avoid them!

They are Everywhere and You can’t escape from Them!

I’m talking about the unique UK phenomena of ‘White Van Man’, that you will be stuck behind on every road and see parked with reckless abandon on every street corner thoughout the length and breadth of the country.

Insurance Blogger shouldn’t really knock them as the ‘old man’ slaved away for years at the home of the Ford Transit in Swaythling Southampton, and it’s an acknowledgement of ‘Great British Design’ that the Transit is still one of the biggest ‘culprits’ today!

But Why White?

Well when I was a kid the black van man was always a ‘copper’!

Anyway, largely because of the Internet and local delviery, they are out there on our roads and they are dangerous, especially the stalking subset called Cowboy Builders from Essex; so we had better insure them right?

We’ve been looking around at what’s available for White Van Man and have found that the best deal to be had online Van Insurance at the current time is through Direct Line and is not available on comparison websites.
It’s just been launched as a standalone product on Car Insurance TV……..
Full Tools and Liability covers are available online.