I tried to get some insurance quotes to put into my calculations but the figures i have been quoted are a bit above what i expected. Basically for a start up with 0 ncb any driver 25yo and >2years experience the quote is £8.5k comp and £6.5k tpo. Does that look reasonable for the experienced gurus here? Any recommended brokers and other tips to improve the quote?
I was using a 2011 renault premium as the vehicle
we have the same policy, any driver over 25 and min 2 years exp. including GIT, liabilities and truck cover on a 0 no claims - £5.5k With ERB insurance, Ask for Lisa Bevan
Hubman
hubman:
we have the same policy, any driver over 25 and min 2 years exp. including GIT, liabilities and truck cover on a 0 no claims - £5.5k With ERB insurance, Ask for Lisa Bevan
Hubman
Fully comp?
Yes fully comp, I found a lot of companies could not be bothered to call me back, where Lisa is very good in the customer service.
8.5k sounds expensive.
2yrs ago I was dealing around the £4.5k mark for £25K units (inc GIT to RHA level). But that was a fairly big mixed fleet.
That was with Oval insurance, since taken over by AJ Gallagher so things may be changing. They were a proper insurance broker who you could get round the table and thrash out a deal. Claims history is everything, consider shorter periods of cover (every 3 or 6 months) if you can get them to agree to review the premiums at renewal. (Not much help for the number crunching you are doing at the moment though)
To get decent rates you need a broker who is dealing with the underwriter, not someone who is a middleman, and convince them you are a good risk. You will need to play a few companies off against each other to get the best rates.
As a side note, I have never experienced a problem insuring new drivers or young drivers (despite what most employers claim) they normally just double the excess for under 25 and new licences and require them to be named.
Big burner:
As a side note, I have never experienced a problem insuring new drivers or young drivers (despite what most employers claim) they normally just double the excess for under 25 and new licences and require them to be named.
Same as my insurance company, I need to submit their details before employment. Would I employ a new driver, yes depending on their attuiude.