Cheap Minibus Insurance Depends On Many Factors
Some recent developments in the UK vehicle market have caused some concern in the
transportation industry as they have the potential to be inflationary to the consumers and would have a cascading impact on insurance premium rates. This would make things expensive for those running minibuses, other heavy vehicles and even for cars.The first one is the increase in toll charges announced by the UK Transport Minister for Severn Bridges. This would come into effect from January next year and has disappointed many of the transport firms that were hoping there would be a freeze on toll fees. The worst hit is the HGV segment. The increase of 80p would mean that the van drivers would now have to shell out 60p more. LMV or light motor vehicles would have to pay 20p extra. Any hopes that the Severn crossings would become cheaper can come alive only with the concessionary period ending in 2017.
Next is the revelation that over 850,000 GBP was paid out by way of accident claims in the period Jan 2008 - June 2010 and this includes claims for whiplash injuries as well. Though insurance service companies do make provisions to meet such payouts, the fact that a recent legislation makes it incumbent on the insured to meet hospital expenses would also add to consumer costs.
Finally, the huge increase in London tube as well as bus travel cards charges are also going to impact consumers negatively. This move would affect those in outer London as well as tourists and visitors to this wonderful city.
The result of all the above developments would be surely felt in the minibus industry which is engaged in ferrying tourists within the city. They would have to pay higher insurance to ensure that their passengers are well protected and thus would be very keen to get cheap minibus insurance cover from service providers. They would also be looking for other options like having a temporary insurance facility to suit specific requirements of sudden travel or to ensure that minibuses not in use are not required to take insurance cover and add to costs.
There is silver lining though. Since insurance service providers do take into consideration the driving history of drivers, their age when deciding on the premium rates, minibus operators would take some comfort from the UK Domestic Drivers Rules that has provisions for rest breaks and also lays down clear directives of how long a driver can beat the wheel continuously. This would help drivers to remain fresh and would definitely reduce judgement errors due to driving fatigue and that in turn would help operators to negotiate better insurance premium rates.
While the above mentioned developments do not directly influence insurance premium rates for minibus operators immediately, it does queer the pitch to some extent from the point of view of future rates as insurance service providers would try to put in more protective clauses and conditions in order for such operators to get the cheap minibus insurance rates they are looking for.
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