As insurance companies continue to see the cost of claims increase they are looking to increase premiums to return the books of business they hold to profitability. According to recent statistics some insurance premiums rose by 11% during the second quarter of 2010, the sharpest increase  recorded in the past 16 years.

Many insurers have been complaining that premiums have been too low to be sustainable for some time and we are now seeing the result.

For some types of business insurance companies paid out costs of £122 for every £100 of premium received.
So given the figures it is no surprise that many Haulage insurers are seeking to impose premium increases to correct the short fall.

Also, many insurance industry experts have warned that the tax imposed by the government on most insurance policies know as Insurance Premium Tax (IPT) could be set to rise to bring it in line with the rest of Europe.
The IPT is presently set at 5% but following the recent emergency budget it is set to rise to 6% with effect from 4th January 2011.

However, IPT across Europe is much higher than the UK with Germany currently set at 19% and many industry experts expect the government to take action to move IPT in line with European Union levels as the UK is very much at the lower end of the European scale.

All of this is not good news for customers at a time when their own income is under pressure due to the current economic conditions.

So now more than ever it is important for customers to use the services of specialist HGV and Haulage insurance broker such as Isis Insurance. We have many years of experience in arranging HGV insurance and can offer terms and cover from a number of leading UK insurers.

Although we cannot change any rises in IPT we can search the markets to find you the best Haulage insurance deal which will help to keep your costs as low as possible.

The End of Life Vehicles Directive will force manufacturers to take back old vehicles free of charge when they reach the end of the road. The makers are bitterly resisting the law, claiming that it would drive them into bankruptcy and will have a catastrophic effect on the Motor Trade Industry.

The Impact this could have on Manufacturers and also Motor traders is that there are going to be fewer older vehicles on the road that could be sold on. Many Motor Traders prefer to buy older cars, to make a small profit to sell on and if manufacturers are not allowed to sell these on this could have a dramatic effect on the Motor Trade Industry.

The directive is designed to accelerate recycling by encouraging car firms increasingly to make their models out of reusable materials. The idea is that if they have to pay to collect and dispose of old cars, they will want to offset the costs by selling them on rather than destroying them.

Every year, eight million cars come to a halt for the last time in Europe, two million of them in Britain, but many of these vehicles could be sold on for someone to repair and this is why Motor Traders could be impacted massively also. The metals that make up three-quarters of their weight are already recycled. But the rest – plastics, rubber, glass, oils, paint, textiles and other materials – are destroyed and one in every 10 tonnes of hazardous waste in the EU comes from motor vehicles.

Manufacturers and environmentalists are agreed that more of the cars must be recycled. The industry is aiming to recover 95 per cent of their materials within 15 years. But the directive would go a step further, requiring car makers to take back their products at the end of their useful lives.

It has already been cleared by the European Commission and environment ministers, and is expected to pass through the European Parliament essentially intact, too, although some MEPs have put down amendments, supported by the motor industry, to try to weaken it.

Under its provisions, manufacturers will have to take back all vehicles put on the market from next year, when they reach the end of their lives. And, soon they will have to collect all defunct old vehicles, whenever they were made.

The industry particularly dislikes this last provision. It says it is retrospective, and therefore illegal, and would cost £2.5bn in Britain alone, threatening “some major manufacturers” with bankruptcy.

The Society of Motor Manufacturers and Traders says the “the imminent arrival” of the directive “is certain to affect the competitive position of the UK motor industry and place a huge financial burden on vehicle manufacturers”.

Isis Insurance understands the impact this is going to have on vehicle manufacturers when combined with the current economic climate. Also with many motor traders working from home or from commercial premises this is also going to have a great impact on that industry too.

The effect these changes may have on the motor traders and the motor trade insurance industry is something that the European Commission and Environment Ministers must consider.

Camping holidays are increasingly seen as a cheaper and easier way to take a week or 2 weeks holiday, but camping can all depends on the kind of vehicle you have.

A family of 4 and all their camping equipment will need a large vehicle to carry all of the equipment needed for the all important summer break and most times a standard 4 door hatchback, just won’t do. This is why there has been an increase in sales of MPV vehicles. They offer comfortable seating for all your family, but also ample space for all your camping equipment.

Taking the above into account, for many Motor traders buying an MPV vehicle may  not have been on the agenda in the past, but now it’s a vehicle that should be invested in as the demand is very high and prices are also strong on this type of vehicle.

Of course many cars are seasonal and there has been a steady decline in demand for premium 4wd vehicles. Whereas the prices have remained high for most of the year there are now clear indicators that values are dropping off and there are certainly many more to choose from on motor traders forecourts.

If you are in the market and looking to buy an MPV Vehicle it is certainly worth shopping around as it might just be the right time if someone is thinking about a ‘nice spacious vehicle’ for their money to accompany them on next year’s camping trip!

Choosing the right vehicles is just one of the problems many Motor Traders face every day. . so do your research to check what types of cars are currently selling and also what vehicles are holding the prices and then buy these vehicles. Many people tend to go for an older car with lower mileage, but there are many of these vehicles available, and this makes an impact of the price you can sell this vehicle for.

Motor Trading can either be a full or a part time job or just a hobby but you need to do this correctly and make sure you arrange motor trade insurance.

Being a Motor Trader you are going to need an insurance policy which fits around your personal requirements. Isis Insurance is a Market Leader for HGV insurance offering very competitive prices and we also offer Motor trade Insurance, with the same competitive prices and more importantly we can arrange cover that suits your individual circumstances.

It is expected that by 2011 there will be around two million fewer used cars aged between one and five years in general use compared to 2008. 

“In 2008 over 60% of franchised dealer stock consisted of cars less than two years old, and yet this year alone there could be as many as 600,000 fewer one and two-year-old cars available for dealers to retail,” explains Adrian Rushmore, managing editor at Glass’s.

The fall in used car supply are the product of two trends – each month of low registrations has produced a proportionally lower number of part exchanges, and the prolonged period of low registrations has meant the stock of younger used cars has also steadily diminished.

There are various initiatives that can be undertaken to combat the shortage the most obvious being the introduction onto the forecourt of older vehicles and those with higher mileages. However motor traders are advised that competition for stock is expected to intensify.

As choice becomes more limited in the coming years there may also be a greater need for dealers to buy cars that require additional reconditioning work therefore appraisal

Despite the reductions in used car availability, there is unlikely to be a dramatic rise in prices in the foreseeable future.

There will still be the normal highs and lows and, whilst prices will edge upwards when viewed on an annual basis, there will be no repeat of the unprecedented rises which were seen last year.

So although searching for good quality stock vehicles may be a headache for motor traders arranging motor trade insurance through Isis Insurance couldn’t be easier, just call one of motor trade insurance team direct on 01625 539 656 to discuss your needs – you’ll be connected immediately and we will arrange a policy to suit your individual needs.

The ProNav PNN-200 allows drivers to enter their heavy good vehicles’ vital statistics, including weight, height, length, width and the goods they are carrying, to calculate the best route to ensure drivers are not confronted with roads or obstacles not suitable for their vehicle or cargo. During a journey, the ProNav PNN-200 also warns drivers of hazards such as steep hills, high cross winds, and the risk of grounding and can automatically re-route a driver’s journey accordingly if deemed necessary. The ProNav PNN-200 is perfect for drivers of HGV’s, light commercial vehicles.

The ProNav PNN-200 should in the long run result in more accurate time and distances for drivers who are unsure about routes, it also gives drivers confidence of what lies ahead but most importantly we hope the ProNav PNN-200 will reduce accidents as many drivers take routes which are not best suitable to their journey.

One piece of advice we will stress is that you use the ProNav when your vehicle is stationary; using this piece of equipment whilst driving could cause lack of concentration on the roads a head and may result in an accident.

Isis Insurance believe that the ProNav is a fantastic piece of equipment and will help all drivers with their journeys, but most importantly, always make sure you have the correct HGV insurance policy to cover you for your Heavy Goods Vehicle, If you’re unsure or are searching for HGV insurance quotes, please do not hesitate to contact us at Isis Insurance.

SMMT’s Industry figures have shown that 195,226 new cards were registered in June 2010, which is a lot higher than the predicted amount that was set by Motor Manufacturers and Traders. SMMT Chief Executive commented  that the figures came as a surprise as the government  scrappage scheme was due to end, but the increase in car sales is a promising thing for the UK industry.

There has been a dramatic increase in fleet sales that has helped to boost registrations taking January to June 2010 new car figures have increased by 19.9% to 1,208,662.

Recently there have been many redundancies and the possibility of Car Manufactures leaving the UK due to the lack of demand for vehicles and also it is most cost effective to move their operating sites abroad.  But hopefully this has realised alarms that the UK need the car industry to stay put as many thousands of jobs would be lost and this could put the UK into a great recession.

With the increase in new cars being registered and the end of the scrappage scheme this has also been a big advantage for small Motor traders looking to sell lower value vehicles as they have been able to buy great cars at discount prices from auctions due to manufactures taking older cars in for Part Exchange.

With so many people looking to sell cars from their home as a part time job you need to make sure you are getting the right Motor trade insurance cover at a competitive price, and with Isis insurance being a market leader for HGV insurance, we can also guarantee competitive prices on Motor trade insurance also.

This did happen recently to a gentleman from Livingston, West Lothian who fell asleep behind the wheel of his 44 tonne HGV, vehicle travelling at 60 MPH but what the driver didn’t know that he was suffering from a condition called obstructive Sleep Apnoea. 

According to the Sun newspaper there are approximately 300 deaths caused every year due to drivers nodding off at the wheel. With 30,000 people in the UK suffering from OSA, 90 per cent of cases remain undiagnosed.  A poll also revealed one in six HGV drivers have Obstructive Sleep Apnoea.

There have been many cases with HGV drivers falling asleep at the wheel but luckily Mr Connelly from West Lothian said ‘I got the shock of my life. I had fallen asleep and nearly killed myself. I stopped at the nearest services, had a wash, a coffee and a walk around to wake myself up, but I was shaking so badly’.

Mr Connelly was very lucky, when this event happened in his HGV vehicle luckily it was only 5am in the morning so there was little traffic, had it been a bit later on he could have caused a major accident in business rush hour traffic.

At Isis Insurance we want our clients to take best care when driving long distances - make sure you have regular stops. Don’t drive over your recommended hours and have plenty of food and drink you keep your energy levels high.

Keeping the rate of accident down each year should give everyone an advantage on cheaper HGV insurance premiums, and at Isis insurance we always make sure our clients get the best competitive price for their HGV insurance.

A government consultation document is currently being distributed that seeks comment from interested parties over the next three months.

The document proposes to withdraw the exemption from the almost 5,000 road going cranes and over 3,000 truck mounted lifts currently registered in the UK. Once the consultation process is closed in March there will be a delay of a further three months or so before the findings are published.

Assuming that the outcome is then a recommendation to go ahead with withdrawal – and it is hard to see any arguments that will prevent it – the changes to the current law are likely to come into force sometime in 2011.

The driving forces behind the proposal are the fact that the number of exempt vehicles that regularly use UK roads is now over 40,000 and growing. It is also clear that the exemption breaches EU directives for these vehicles that often travel great distances, some at relatively high speeds.

It will be hard to argue a rational case against the removal of the exemption and that both cranes and truck mounted lifts should not be subject to formal roadworthiness tests along the lines of other vehicles. Tests costs between £75 and £135.

Isis Insurance takes into account the exemptions and what this means to our HGV drivers and crane drivers.

With the added cost of time and test fees many companies could be left with less profit and this is where Isis Insurance can help you, we offer competitive HGV insurance prices, and all our staff have years of experience to make sure you get the best possible policy for your HGV vehicle.

The article points out that last year’s Department of Transport vehicle licensing statistics showed that the number of company owned cars fell by almost 4.5% while new registrations plunged 21%. The effect of the economic crisis along with the recently announced increase in VAT from next January is likely to ensure that the decline in size of commercial fleets continues.

This comes at a time when most insurers agree that insurance premium rates in the fleet insurance market need to increase to cover ever increasing claims costs.  Claims cost inflation has soared in the past 5 years far outstripping rate rises.

Data monitor estimates that claims inflation is running at around 6% across fleet and commercial insurance, although some insurers suggest it is in double figures, whilst premium rates have increased no more than low single figures.

Bodily injury claims are continuing to rise, and credit hire now accounts for around 10% of premium payments, whereas it used to be no more 2%. There are also a number of upcoming pressures on the sector, such as the recently implemented Ministry of Justice reforms.

The most recent FSA returns show commercial market had combined operating ratios of 110% in 2009.. meaning for every £1 taken in premium £1.10 was paid in costs.

With increased pressure on premium rates choosing a specialist HGV fleet insurance broker like Isis Insurance can help clients to obtain competitive rates from a number of insurance companies. We will search the market for the best premium offer from a number of insurers and look to obtain the best cover and terms available.

In these uncertain times arranging HGV Fleet insurance through Isis Insurance could be a great way to save money and improve your cover.

However, at a time when the cost of HGV insurance is rising due, in the main, to ever increasing claims costs, many insurance companies are teaming up with vehicle manufacturers and other organisations to research the latest safety technology to help to save lives, reduce injuries and also cut the costs of accidents.

With the continuing advancement of technology several new initiatives are being researched which could bring about a quantum leap in road safety and revolutionise the way that HGV insurance works.

An example of such an initiative is adoption of electronic stability control (ESC) an automatic override that prevents drivers from losing control in a skid. At present 63% of new vehicles in the UK are fitted with ESC, but in 2012 all new cars will be required to have this by law. According to research conducted by Thatcham, a not-for-profit organisation that carries out research aimed at reducing the cost of accident claims for insurance companies, 380 lives have been saved by the introduction of ESC.

There were 572 pedestrians killed on the roads in 2008. For that reason Jaguar and Mercedes have introduced the pop-up bonnet. Should the vehicle strike a pedestrian the bonnet rises up, keeping the victim away from the hard metal of the engine.

Drink driving is another high risk factor, a driver who has drunk double the legal limit is 50 times more likely to be involved in a fatal crash. Ford has produced the “AlcoKey” which has a mini breathalyser kit built into the key. If the driver blows into the mouthpiece and registers a reading above the legal limit a red light flashes, telling the driver the key will not start the car.

In many cases the new technology is not just about saving lives but also about avoiding the minor incidents which make up the majority of collisions. Whiplash is the most common injury with 436,000 claims a year in the UK. Typically these accidents are where a driver runs into the back of another vehicle at a junction. However new technology can stop this happening. New tests with vehicles fitted with collision mitigation braking systems-where the vehicle brakes autonomously when it sees an obstacle are very encouraging along with simpler systems such as orange lights beside mirrors which tell you if there is someone overtaking in your blind spot.

Another new development is lane departure technology, where a buzzer sounds when the vehicle edges across the white lines without indicating. This is taken further by some vehicle manufacturers who are experimenting with a system where the steering wheel rights itself, nudging the vehicle back into the lane if the driver crosses white lines without indicating.

As well as the improvements in vehicle safety on our roads for drivers and pedestrians the insurance industry should see a reduction in the cost of claims. Experts believe that if the automatic braking systems mentioned earlier were fitted to all UK vehicles Britain would see 150,000 fewer whiplash injuries, £1.3bn saved in repair costs and £700m in health compensation.

Of course there is no substitute for careful driving and insurers will always look to reward careful drivers who have good claims records with competitive HGV and Haulage insurance and here at Isis Insurance we are able to tailor individual policies to suit customer’s individual circumstances.

Whatever the development in new technology we will continue to provide our clients with competitive Haulage and HGV insurance policies.