Government Considers Limiting New Drivers, Is Facebook Putting Your Home at Risk? Plus More

Welcome to the March edition of the West Craven newsletter.

In this month's edition, the government is considering plans to limit the freedoms of new drivers and we reveal the insurance policies that business owners should consider.

Also this month, find out how Facebook is putting your home at risk and we share a tenant's guide to insurance.

Government Considers Plans to Introduce New Curfews and Limits to New Drivers

 

 

In the UK, new drivers have a fairly easy time when it comes to getting on the road. There are no restrictions on the types of car they can buy; nor are there any rules that prevent them from driving at certain speeds or times of the day, unless they agree to similar terms in return for a cheaper insurance policy.

Punishment is also only slightly harsher for new drivers. If you have been qualified to drive for under two years and receive six points during that time, then your driver’s license will be revoked.

This puts the UK at odds with other countries such as Australia, New Zealand, the US and Ireland, where stricter rules have been introduced in an effort ease to inexperienced drivers onto the road. Such measures have included restricting the engine size and power outage of the cars that new drivers are permitted to drive, a ban on anyone under the age of 25 driving at night and a lower maximum speed limit for the first year or two after the driver has qualified.

Last month, Prime minister, Theresa May, announced that she will be discussing the prospect of a “graduated licence” scheme with the Department of Transport, in an effort to reduce the number of accidents involving newly-qualified motorists.

Government statistics have suggested that a quarter of recently-qualified motorists are involved in an accident in the first two years that they are allowed to drive. Over 400 young drivers are killed or seriously injured in the UK each year.

What is a ‘graduated license’?
A graduated license acts as a slow introduction for new drivers. Areas of Canada have implemented a graduated license system, which requires a new driver to complete two separate courses on driving before they earn their full licence.

How other countries are protecting their drivers
In Australia, New Zealand and some areas of the US, newly-qualified drivers are not allowed to drive without an experienced driver as a passenger. There are also limits on the number of passengers that can be in the vehicle.

Ireland requires new drivers to wear novice plates on their vehicles. They are also subject to a far lower alcohol limit when compared to more experienced drivers.

Within the UK, Northern Ireland requires all new drivers to wear amber ‘R’ (restricted) plates. They also take the additional step of imposing a 45mph maximum speed limit on drivers for the first year.

The RAC has welcomed the news with road safety spokesman, Pete Williams, saying: 'The RAC has been calling for a reform of driving education for young people and the introduction of graduated driving licences with a minimum supervised learning period and restrictions on the number of passengers permitted in the car so this is a very positive step towards preventing the loss of young lives on our roads.”

Williams continued: 'Evidence from other countries where some form of graduated driver licensing is used shows that it has been successful in reducing the number of collisions involving young drivers, but in order for it to be as effective as possible it has to be part of an overall package of measures including more extensive driver education.

'We welcome a common-sense approach to driver education such as the recent decision to allow probationary licence holders to take lessons on motorway driving.”

Business Property: What Types of Insurance do I need?

Every landlord contends with some level of risk when it comes to letting their property to a third-party. Whilst a domestic landlord must only concern themselves with ensuring they are protected against a handful of tenants and risks; a commercial landlord must consider the whole business operation, its customers and the high level of foot traffic that is generated by the location of the building and the threat that it poses to their property.

Should the worst happen and your property is damaged or destroyed, the cost of rebuilding and the loss of income can be too much for a landlord to afford. A commercial property insurance policy will protect your company’s physical assets from fire, burst pipes, storms, theft and vandalism. Natural disasters are not usually covered by commercial property insurance; however, it may well be possible to add those risks to the policy.

How much does it cost?
A commercial property policy will consider the value of the property as well as the following factors.
• The industry that your tenant works within. For example, an estate agent poses less of a risk than a mechanic.
• Is the location of the property prone to natural disasters such as storms, floods or earthquakes? This could affect the premium.
• The age of the property.
• The materials used in its construction. A newer building with modern electrical systems, fireproof materials and updated plumbing will have lower premiums than an older converted building.
• Up-to-date fire and theft protection. Does your building have adequate security? How about fire alarms and sprinkler systems?

Do I need to protect the contents of my property?
Like all landlords, you are not obliged to protect your tenant’s possessions, whether they be stock, furniture or equipment. The tenant will need their own contents insurance policy. If you have your own contents in the property (such as shelves, furniture, etc.) you might wish to seek a commercial property insurance policy that incorporates elements of a contents policy, or you can buy a separate contents policy.

Is Facebook Putting Your Home at Risk?

 

It is a common misconception that burglary is an opportunistic crime. In nearly half of all burglary cases, the victim knew the offender or knew of them, 31% knew them well and 20% are known by sight or from a previous conversation. So how are criminals finding the opportunity to rob you and your family?

As more of us join social media platforms, such as Facebook, Twitter, Snapchat and Instagram, criminals are using your profile to monitor your movements; seeking the perfect opportunity to break into your property.

For example, celebrities such as footballer John Terry was a victim of a burglary in February 2017. Terry was away on a family ski trip and posted holiday pictures on his social media accounts. During their investigation, the police believed the posts gave opportunistic thieves a clear indication that his property was unoccupied.

Risky Posts
A recent survey found that there are currently over 90,000 risky social media posts that were identified as belonging to a UK resident. A risky post can include clear indications that you are away from the house, or may include pictures of new cars, gadgets or jewellery, which act as a tempting incentive to would-be thieves.

Most Common Social Media “Bad Habits” by Region
Of the 90,000 posts analysed, more than 80% were regarding upcoming holidays, making this the worst habit to have when it comes to social media.

The study also investigated the region with the highest percentage of risky social media posts, with the South East, North West and North East named the riskiest regions.

The below chart takes each region’s percentage of risk and pits it against the national average and assigns them a score depending on how it compares.
Stephen Roberts, marketing manager at Yale UK, said: “With nearly 45 million social media users in the UK alone, sharing your personal details and whereabouts on social media sites can put your home and belongings in a vulnerable position. It’s vital that users keep an eye on their security settings to prevent being opportunistically targeted by online criminals.

“Alongside updating security settings, upgrading your home security can also deter potential burglars from making your home their next target. Investing in a high-quality security system from a reputable brand will help secure and protect your home, even if you happen to share too much on social media.”

A Tenant’s Guide to Insurance

 

More and more people are turning to renting as a means of homeownership. Whether you’re a young adult looking to leave the nest, a student or simply looking to downsize, it’s easy to understand why the rental sector continues to grow.

As a tenant, your responsibilities to the property are slightly different to that of the homeowner – especially when it comes to your insurance.

So, what kind of insurance do I need?

The main policy you would be well advised to purchase is a contents insurance policy.

Firstly, many landlords/property managers will request that you have a contents insurance policy before you move in. This is mainly to ensure that there are no disputes should you damage your personal items in their property.

Secondly, it’s just common sense. Whilst you might be able to replace your TV when it breaks or have an item repaired, can you afford to replace everything you own should you be the victim of a fire?

A standard contents insurance policy can protect the following:

• Antiques and family heirlooms.
• Any gadgets, appliances and electronics.
• Books, CDs & DVDs.
• Cutlery and Crockery.
• Furniture/Soft Furnishings.
• Jewellery.
• Your bicycle.
• Your Clothes.

There is no limit on how many items you can cover (as long as a single item’s value isn’t above a certain amount). That means if you have a treasured collection or a valuable gadget, you’ll always be covered.

In some cases, a contents insurance policy also covers your property for when you move. This means if something is lost, stolen or damaged during the moving process, you can make a claim for it.

Do I Need Building Insurance?

As you do not own the building, it is the landlord’s responsibility to ensure that the building, fixtures and its structure are protected. If the pipes have burst or damp is causing mould, that’s not your problem – it’s the landlord’s.

Additional insurance

Accidental damage cover is a good insurance extra for that added sense of peace. This cover is sometimes included with a contents policy. If you drop your phone on the floor or in the bath, then you will be grateful you had extra cover.

Of course, accidents do happen. You might spill a drink on the carpet or leave a mark on the wall. To protect against this kind of issue, another great policy is tenants’ liability cover. This way, you have financial assistance should you cause serious damage.

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