How Black Box Data Debunks Common Myths, Is Your Property Insured Against Storms? Plus More

Welcome to the January edition of the West Craven newsletter.

In this month's edition, we reveal how black box data debunks and proves common myths about young drivers and we reveal if you are insured should your property be damaged by a storm.

Also this month a recent study has revealed why homeowners skip basic home security and we discuss how your business can benefit from a Goods in Transit policy.

How Black Box Data Debunks and Proves Common Myths about Young Drivers

 

Black boxes have become a common component of car insurance for many young drivers. The telematics technology monitors your speed, the way you handle your vehicle, and in some cases, what time you drive at.

So why do over a million drivers volunteer to allow insurers to monitor their every moment behind the wheel? Drivers with a black box who drive carefully are rewarded with lower insurance premiums. The data collected by insurers has proved many modern myths about young drivers false – whilst some have been proven.

The data was collected by some of Britain’s biggest telematics insurance providers who discovered the following:

Women are Safer Drivers than Men

Telematics data confirmed one of the most common points of debate for drivers, with women being named the safer drivers of the two sexes. 54% of insurance claims are made by men, whilst 46% belong to women.

17-year-olds are safer drivers than 18 and 19-year-olds

Having only just passed their driving test and still learning their own driving habits, 17-year-olds are actually safer drivers than those who have been driving for a year or two. Growing confidence and freedom from the watchful eye of instructors and examiners, means drivers pick up bad habits.

NHS workers are most likely to be a safe driver

Insurers are allowed to discriminate based on the type of career you have. Given the field they work in, it isn’t surprising that employees of the NHS know the importance of driving carefully. Unsurprisingly, motor racing drivers have a more expensive insurance policy, followed closely by funfair employees.

Black Boxes Pick up the Signs of a Crash Before they Happen

Data collected from black boxes following an accident has revealed that in many cases, there were signs of erratic driving (when compared to the driver’s usual habits) which contributed to the accident. When probed many drivers admitted to scenarios such as stress at work or arguments with a spouse, which influenced their poor driving.

Young Drivers need further education on navigating country roads

Many young drivers believe that because the speed limit is 60mph on a country road, they can stick to that speed when taking corners and flying up and down hills. Black box data has revealed that these types of roads are death traps for young drivers and that inexperienced drivers require further educations on how to navigate roads.

Unsurprisingly speed is a young driver’s main issue

The data collected from telematics revealed that one-third of drivers drive too fast in poor road conditions. The data also revealed that drivers who speed 20% of the time increase their risk of having an accident by 87%.

Are you insured if your property is damaged by a storm?

 

Over the last five months, the UK has been battered by six separate windstorms – three of which occurred between December 6th and January 2nd. Each storm has disrupted everyday life across the UK, with power outages, traffic issues and damage caused to the country’s landscape - as well as the additional risk storms, pose to your property. Your car, contents and property can be damaged by debris and in some cases, your insurance might not cover you.

Most insurance policies won’t insure against damage caused by falling trees, debris or storm damage that has been left by rogue weather.

Car

According to the Association of British Insurers (ABI), only motorists who hold a fully comprehensive car insurance policy will be able to make a claim for storm damage caused to their car. If you have Third Party, Fire and Theft Insurance, you won’t be insured should your vehicle be damaged by a storm.

So what should comprehensive car insurance holders do if their car is damaged by a storm?

- Contact your insurer immediately – use the 24-hour emergency helpline if it is outside business hours.

- Take photos of the damage to your car. Try not to remove any debris until you have taken plenty of photos.

- Get temporary repairs made (i.e. if your window is broken, you’ll want to safeguard your interior against the elements). Make sure you inform your insurer before making the repairs so you can get reimbursed later.

- If you have any concerns that the car is unsafe, don’t drive it.

Home

Your home insurance is more likely to protect you against storm damage, however, it is important that you stay on top of the maintenance of your home.

When you make a claim on your insurance for storm damage, your insurer will likely send an agent or independent surveyor to discover whether the damage was caused by the storm, or as a result of negligence to an aspect of your property’s upkeep.

For example, if there have been issues with the tiles on your roof and then a storm rips them away, it’s possible your claim will be rejected because by not repairing the roof, you may have indirectly contributed to the damage caused by the storm.

If you want to make sure that you have the appropriate cover in place to protect you no matter the weather, then give us a call on 01282 817 277

Homeowners are Making Basic Home Security Blunders In an Attempt to Save Time

 

The security of your home and possessions should be of the utmost importance at all times, not only when you have a little time before heading out on your commute. However, in a recent survey performed by laptopsdirect.co.uk, it was revealed that many British adults believe they save an average of 32 minutes every day by ignoring the rules of basic home security.

The results of the survey revealed that nearly half (48%) of the respondents will often leave valuables such as tablets, televisions, games consoles and laptops on show throughout the day.

To make matters worse a further 31% admit to not closing their blinds and curtains, 24% confessed to leaving their windows open when they’re not in the house and one in six leave their back door unlocked at all times, making it easier for thieves to break in with a good idea of where all your valuables are.

42% also admitted that they didn’t set their burglar alarm when leaving the house, increasing the risk of a burglary going undetected by your neighbours and the police.

Despite the numerous shortcuts people take to cut time when it comes to security, it was revealed that 34% of those who completed the survey said they would consider investing in additional technology and gadgets, such as CCTV, door locks and safes.

Mark Kelly, marketing manager at LaptopsDirect.co.uk commented: “As nights get darker, it is imperative that Brits really consider the importance of home security. Whilst they may think they are saving time by omitting a few basic security measures, the simple fact is that they are doing so at the expense of risking being burgled. This is especially worrying given the recent figures that show how recorded crime has risen by 13% from the previous year.”

“The research shows just how many Brits are compromising their security. Evidently, more of us need to understand the importance of protecting the home and make security tasks a higher priority.”

It may come as a bit of a shock to baby boomers, but millennials (aged between 18-30) are most likely to secure their home, whilst those aged 45-54 take numerous shortcuts when it comes to security.

How Your Business Can Benefit from Goods in Transit

 

There are many types of motor insurance specifically tailored to businesses, but the majority of them will protect your vehicle or third parties, but not the contents you are transporting. Should you be involved in an accident and your goods or equipment are damaged, you could face financial loss and damage to your reputation. A Goods in Transit policy can offer additional protection for the contents of your vehicle whilst travelling.

How do I know if I need a Goods in Transit policy?

Depending on what type of goods you transport, you will fall into one of two categories

Haulage cover – if you transport items for third parties (i.e. as a courier) then you will need Goods in Transit insurance tailored to your sector and risks.

A Goods in Transit policy is especially important for haulage firms, as you are handling your customer's goods. Should anything happen whilst the items are in transit, you could end up losing out financially, and you could face permanently losing a customer – in fact, many of your customers will expect you to have some type of cover to protect their property as a standard.

Carriage cover – If you are using a business vehicle as your primary transport to and from work, as well as for transporting business-related goods, then you will need a policy tailored to carriage.

So what is a Goods in Transit policy?

A Goods in Transit policy insures any goods carried in your vehicle as part of your trading activities. This can include any supplies you are transporting (i.e. Building materials), as well as courier cargo. Should one of your drivers be involved in a crash or should one your vehicles get broken into whilst in transit, you won’t be faced with the financial cost of replacing your items and compensating your customers.

 

If you are interested in a Goods in Transit policy and would like to know more, get in touch with West Craven on 01282 817 277, or visit our website for a quote today.

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