West Craven

Your September newsletter!

Welcome to the West Craven Insurance September Newsletter. This month, we provide some helpful advice to keep you updated with the latest industry changes.

In particular, we take a look at:

- Which home insurance add-Ons do you actually need?
- Is your classic car covered this autumn?
- Do I need insurance if I'm self-employed?
- Tool thefts are on the rise

We hope you enjoy this month's edition!

‘Inexpensive’ ways to protect your home as winter approaches

HEATING your home in the winter is a necessity for most Britons as temperatures are predicted to plummet over the next few weeks. But is your boiler up to it? Here's how to prepare and protect your system and avoid costly repair jobs.

Click here to read ‘Inexpensive’ ways to protect your home as winter approaches.

How workplace safety will evolve this year

Many firms are asking staff to return to work in the office. We are no longer required to self-isolate with Covid and there is no obligation for staff to tell employers if they test positive. So what does this mean for workplace safety in 2022?

Infection prevention

Many employers are experiencing an increased expectation from their workforce to keep staff safe and well. Employers should continue to prioritise infection prevention and control, where possible increasing ventilation, reducing contact between employees and keeping the workplace clean.

Remote working obligations

Now that businesses of all types have adapted to remote working, many have embraced it. Some have even altered recruitment policies to widen the pool of talent and actively recruited people on remote-working contracts.

In the rush to shift to remote working in 2020, a large number of employers may not have taken the time to complete home-based working risk assessments. Now that remote working is here to stay, it is important that risk managers take seriously the health and safety responsibilities of people working at home. From electrical equipment to posture, employers have a legal duty to take appropriate measures to ensure their staff have a safe working environment outside of the workplace.

Mental Health

Employers across the country are placing mental health and wellbeing high up on their agenda, offering training to line managers and appointing roles such as a mental health first aider. In 2021, The Health & Safety Executive’s annual report on workplace health and safety statistics, showed 451,000 people suffering from a new case of work-related stress, depression, or anxiety. That was a 30% year-on-year increase and we expect that figure to rise again.

Some employees will not feel comfortable returning to pre-pandemic working patterns. They may need help managing a phased return to the workplace, along with psychological support around coping with anxious thoughts.

For others, the last two years working from home may have taken a toll on their mental health. Employees working from home are more likely to feel isolated compared to those in a workplace, sometimes resulting in anxiety, depression and a significant lack of motivation. Employers should be reassuring employees that they can ask for help and receive support if they need it.

Disputes linked to safety concerns

Risk managers need to be aware of the potential for unrelated disputes to play out in a workplace safety context. An employee with a grievance about terms of employment, a flexible working request or even a performance-related issue, could latch onto workplace safety as a justification for a certain course of action.

It is more important than ever for risk managers to work in partnership with Human Resources departments as well as individual line managers, ensuring processes are well-documented and paper trail management is scrupulous.

Now is a great time to ensure your insurance policies cover you for all the risks to which you may be exposed. To discuss any aspect of your company’s insurance policy portfolio, get in touch.

Have you sufficiently prepared your car for the spring season?

As the warmer weather sets in, days become longer and the evening skies are brighter, we know spring has arrived.

Throughout the winter, we’re all guilty of neglecting our cars’ needs. After all, spending time out in the cold, snowy weather, checking fluid levels, testing brakes and cleaning from top to bottom is not everyone’s cup of tea.

So, why not treat your car to its very own spring clean this month? Here are three things you can get started with.

Do you need new wipers?

The snow, rain, and icy weather that we encounter throughout the winter can mean that you need new wipers by the time spring arrives. If you notice your windscreen is streaky or still dirty after you have cleaned it, this may be a tell-tale sign that now is the time to invest in some new wipers.

Have you tested your brakes recently?

Signs that show your brakes may be wearing include squeaking or grinding noises when applying pressure to the brake pedal. Brakes can be professionally tested and fixed during a routine service, ensuring you, your family and your car are all safe!

Did you know that leaving your car dirty can cause damage?

With gritted roads and melting ice, your car can get particularly dirty during the winter. Now that spring has arrived, why not get your cleaning products out and make your car look new? Leaving dirt on your car can lead to micro-scratches and rusting paintwork – not something any car owner wants!

Is your car insurance policy up for renewal soon? Our knowledgeable experts are here to ensure you take out a sufficient policy that covers all your needs. Get in touch today to find out more.

How workplace safety will evolve this year

Infection prevention

Remote working obligations

Mental Health

Disputes linked to safety concerns

Now is a great time to ensure your insurance policies cover you for all the risks to which you may be exposed. To discuss any aspect of your company’s insurance policy portfolio, get in touch.

Modern eco-homes: How much could it save you in the future?

The tides are changing for UK homes, and rather than relying on fossil fuels, millennials are transitioning to a more renewable way of living. With the cost of energy soaring to new heights in the midst of a climate crisis, homeowners are becoming more switched-on and opting for better insulation, high-emission boilers, and eco-friendly alternatives.

Since 85% of homes are still heated by carbon-heavy natural gas, the switch to renewable energy is heavily awaited by many. According to the Committee on Climate Change (CCC)*, the UK will not meet its climate change targets unless it eliminates most greenhouse gas emissions from homes, which currently account for around 14% of the UK's emissions.

In an effort to resolve this problem, some people are creating their very own eco-homes. This involves fitting low-carbon technology solutions to properties to make them eco-friendlier and more cost-efficient.

How much can you save with an eco-home?

Giving your home a complete green revamp is no cheap task, but when it comes to installing low-carbon energy-saving appliances around the house, you will eventually make your money back in savings on energy bills and the increased value of your home – while also doing your bit to help the planet.

According to data from TheEcoExperts*, by installing energy efficient appliances such as solar panels, roof insulation and double glazing, homeowners could save £1,863 each year – or £37,260 over 20 years.*

What’s more, using these low-carbon appliances could reduce your carbon footprint by 123.2 tonnes of CO2 over the next 20 years.*

How much can low-carbon technology increase your property’s value?

The next wave of first-time buyers will undoubtedly be seeking out greener houses that cost less to run. Eco-friendly features can increase a property’s Energy Performance Certificate (EPC) rating, and from April 2025, the government will enforce the requirement for all domestic tenancies to reach an energy efficiency rating of ‘C’ as a new minimum.

Alongside this, energy bills are set to continue rising, and the global focus on tackling climate change is likely to strengthen in the upcoming years. These two factors will dictate the impact that high EPC ratings have on house prices in the future.

Which products will save you money in an eco-home?

Solar panels

Solar panels are essential for any eco-home, as not only do they work effectively on their own, but they can also help power other low-carbon appliances such as heat pumps. According to The Energy Saving Trust, the average solar PV system costs around £4,800 and can save on average £530 annually* - that’s roughly £10,600 over 20 years.

Double glazing

Double glazing is becoming a must for most home-hunters, as its money-saving and eco-friendly benefits are ideal for keeping warm over the winter months.

The price will depend on the style and size of the window, as will the material of the frame. According to the Energy Saving Trust, swapping out single-glazed windows for A-rated double-glazed windows could save you £145 per year*.

Roof insulation

It’s widely estimated that a quarter of a home’s heat is lost through its roof; therefore, insulating this part of your property is vital if you want to save on energy bills.

Plus, roof insulation is much cheaper than many other home improvements – it typically costs around £530 for the average three-bedroom house.

Savings will depend on the type of property you live in – whether it’s a detached house, a bungalow, or a flat – but you can expect to save between £150 - £380 a year. This means you could earn your money back in savings within one or two years, and as a bonus, you could cut your carbon footprint by up to 11.6 tonnes of CO2 over 20 years.**

Summary

Eco-homes are still a growing trend, but with today’s fast-changing climate, it’s likely they’ll start to appear more frequently across the UK in the next decade.

If you’re thinking of creating your own eco-home, now is the perfect time to invest. The earlier you can start making lifelong savings and reducing your lifelong carbon footprint, the better. Even just taking green baby steps towards making your home eco-friendlier can make all the difference in the long run – you’ll slash your bills, help the planet, and keep your home cosy and warm over the winter.

To learn more, please contact us.

Energy Saving Trust*

The Eco Experts**

Should you let your car insurance automatically renew?

Letting your car insurance renew automatically may sound like an attractive option as you won’t need to put in any extra work, and you might be happy with the plan you’re on right now. However, this is one of the most expensive mistakes to make, as deciding not to seek out a better deal means your insurer can take advantage of your indifference and subsequently, hike up your premiums.

Without shopping around first, you could be missing out on endlessly cheaper deals on your car insurance, and there are countless other ways to drive that cost down even further. Here are our top tips:

Consider a telematics policy

Telematics car insurance bases your fees on real data about your driving behaviours, which can be recorded either through a black box fitted to the vehicle or a mobile phone app. As long as you’re a safe and careful driver, this is a great option for any age group, as telematics insurance can offer much lower premiums.

Limit your mileage

By limiting the number of miles you drive each year, insurers will see you as a lower risk, which will qualify you for cheaper insurance.

It’s pinnacle that you provide an accurate estimate of your mileage when getting a quote, as your policy becomes invalid if you’re dishonest.

Improve security

Consider installing security devices such as alarms, immobilisers, and locking wheel nuts.

You should always get a quote on how much your insurance would cost after these upgrades first, so you can weigh up whether the cost of these measures is worth the savings.

Increase your voluntary excess

Opt for a higher voluntary excess when you take out your policy, as it will lower the price of your insurance.

However, if you make a claim, you will have to pay the excess towards the cost of repairing or replacing your car, so make sure you are able to afford the excess just in case you do end up having to pay it.

Pay annually

A lump sum may seem daunting but paying monthly is a loan which comes with interest. This is why paying upfront is a substantially cheaper option if you have the funds to do so, and you won’t end up spending anything on borrowing.

Build up your no-claims bonus discount

Insurers reward drivers who are claim-free by discounting their premiums for cheaper insurance. So, keep driving safely and responsibly and you will see the benefits year-on-year.

Park with care

If you have a driveway or a garage, make sure you keep your car parked there overnight.

This will drastically lower your chances of your car being stolen or vandalised, and insurers may lower premiums as you’ll be seen as less of a risk.

Avoid modifications

Modifications of all kinds — whether they’re upgrades to styling, audio, or performance — could result in a large hike in the price of your insurance.

This is because features such as alloy wheels, body kits, and performance upgrades can make your car substantially more attractive to thieves, and your insurer will see your vehicle as a higher risk. Modified cars also tend to be more expensive to repair due to their expensive parts.

To find out more, please contact us.

Over half a million uninsured cars seized since 2018

Around 65,000 cars taken off drivers so far in 2022. More than 129,500 cars seized during 2020 pandemic. “Don’t take the risk” warns AA Insurance MD. More than half a million (542,370) uninsured cars have been seized since 2018 according to information collated by AA Insurance.

A Freedom of Information request to all 46 police forces across the UK discovered that so far this year 64,682 cars have been taken away from drivers for not having insurance. Despite the lockdowns and restricted travel throughout 2020, it saw the most uninsured vehicles seized with more than 129,652 cars taken off the road.

The Metropolitan Police took the most cars off the road with 62,900. West Midlands came second with 44,056 taken away and West Yorkshire completing the top three with 33,829 cars seized. More than 33,000 drivers in Scotland had their cars seized, compared to 22,700 Welsh drivers and 9,360 drivers in Northern Ireland. Kent Police did not respond to the request, while Cheshire Police advised that their systems could not easily determine how many cars had been seized for driving without insurance.

AA Insurance estimates there are approximately one million uninsured drivers on the road each year, however as the cost of living crisis deepens some drivers may be lured into driving without insurance. Gus Park, managing director for AA Insurance Services, said: “Every driver is worried about being involved in a collision, but worse still is the other party being uninsured. “With approximately a million uninsured drivers on the road each year, we believe it is right to protect our members with our Uninsured Driver Promise. This gives peace of mind to our customers should they be involved in a crash with an uninsured driver.

“Sadly, we know that when times are hard some people try to cut their costs, and one area people are tempted to chance it, is cutting out their motor insurance. However, these figures show that forces across the country are on the lookout and will take uninsured car away. “Don’t take the risk. Not only is there the chance of having your car seized, but the criminal and financial hardship is not worth the gamble.”

Get in touch with us today to discuss your insurance policy options.

Should you let your home insurance renew automatically

Renewing your house insurance is essential. Without it, the costs of repairs can run into millions. It’s comforting to know that if somehow you forget to renew your policy; your house insurance will renew automatically. That’s right - you don’t have to do anything, and your home and its possessions will remain insured!

However, the catch is you could end up paying a lot more for the same level of cover by not shopping around. Whatever method you use; comparison sites, direct quotes or you’re married to an insurance broker, the truth is, while it’s not always the case, you will most likely end up paying over the odds.

Here are a few tips when renewing your home insurance:

It’s not always too late to change your mind

If your insurance automatically renews and you know it has cost you more money, remember the cooling-off period of at least 14 days. Sometimes longer, depending on terms, this will give you time before you must pay an expensive cancellation fee.

Shop around

A month before your policy expires shop around. Make good use of comparison websites, you are more than likely to find a better deal.

Haggle

If or when you find a better deal and your policy has not yet expired, ask your current insurance broker if they can match or at least improve on price. You might just be surprised at the answer! This is a proven method of driving down your insurance costs but beware you might not get the desired reduction in price.

Check the details

Always discuss and check the finer details of your policy. For example, your contents insurance policy may not always include bicycles stored in your shed, even if you have a contents insurance policy for your shed, as part of your home insurance policy. Don’t be afraid to ask lots of question of the broker to find out exactly what natural occurring events are insured. Flooding for example may not be covered.

Remember your excess

Check your voluntary excess thoroughly, different items and contents have different levels of excess. Equally, if there are items, for whatever reason, which are less likely to get stolen, damaged or do not hold much value to you, reduce the cost of your policy by paying a higher excess on these items.

Tailor your policy to suit your requirements

Almost anything can be insured so don’t be afraid to get a quote, if it exists chances are you can insure it.

Pay monthly

If you want to spread the cost of your insurance, pay monthly, but you will pay interest. A 0% credit card can give you a little more time to pay without paying what can be a substantially high interest rate.

Pay upfront

It might mean more money leaving your account on the day, but you will not pay interest on spreading the cost and if you find the right deal, you may find there is no need to finance the payments.

Consider multi-cover insurance

Bundling your house and car insurance can be cheaper than using two different brokers. However, it’s not guaranteed. It’s worth noting that if you do take this route just because you make a claim for your vehicle it does not mean an automatic hike in the price of your house insurance.

There are lots of options so set aside some time to examine them thoroughly, it could save you a lot of money.

Looking for a great deal on home insurance? Get a quote now.

4 Key Business Benefits of Fleet Insurance

In a world of rising inflation and shrinking profits, it is more critical than ever that small and big businesses find the tools and means to reduce costs and boost efficiency. Fleet insurance is one such tool that can make some areas of your business much more efficient to oversee while cutting down costs significantly. Fleet insurance can be purchased if you use more than one vehicle for your business. Fleet insurance can be used by a business in any sector as long as they own or lease at least two vehicles.

Here’s a closer look at four key benefits of fleet insurance for your business.

Greater Discount

Fleet insurance can save money for your business from the get-go by making available quantity-based discounts on your vehicles – it is cheaper than insuring each individual vehicle separately. Thus, the greater the number of vehicles operated under your business, the more the discount on your insurance costs.

More Efficient Admin

Keeping all your vehicles under a single policy is also a good way of simplifying some of your admin tasks. In case of big or small accidents, it’ll be easier for you to contact your insurance provider for help. Similarly, renewals and changes are also far easier when it’s all under one policy. A uniform fleet policy thus involves lesser documentation, lesser follow-up, and much more efficient admin.

Greater Safety

In the scenario of an accident, time can be of the essence. To help your employees and the business with replacement vehicle expenses and other costs, you’ll need your insurance to come through quickly and smoothly without a ton of hassle. Easier access to funds can translate into greater safety and security for your employees and you in the event of an unfortunate accident. A fleet insurance policy can thus help your employees, business, and you when you need it most.

Better Protection from Driver Turnover

A business can sometimes go through periods of high employee turnover. In such a scenario, having fleet insurance is even handier since you don’t have to keep trying to work out the policy for every driver leaving or any new driver joining the team. As long as you recruit drivers that meet the conditions of your insurance policy (such as a prior driving track record), you’ll be able to extend the policy to them without having to keep changing your insurance policy. Fleet insurance can make it much less expensive to operate your business vehicles while reducing the admin hassle. Fleet insurance is thus an important part of the risk and future-proofing your vehicles and your business.

Looking to make a switch to Fleet Insurance in your business? Get a quote today.

*eubusinessnews

Classic Car Insurance – Protection For Your Pride And Joy

If you own a ‘classic’ car, it may well be your pride and joy. It might hold sentimental value, it’s probably oozing automotive style, and it could well be a rarity on the roads. Chances are, it will certainly turn more than a few heads.

It is also likely to be worth a few quid, and it probably receives an awful lot of care and attention to keep it looking and performing at its best.

All this makes getting specialist insurance protection something of a no-brainer to protect your vehicle against damage and theft. So what should you look out for when buying or renewing classic car insurance?

What counts as a ‘classic’ car?

The word ‘classic’ tends to get thrown around a lot in today’s world, but as far as automobiles are concerned, it has quite a precise, official definition

According to the government (HM Revenue & Customs, to be precise), a car is considered ‘classic’ if it is:

at least 15 years old and
has a market value of £15,000 or more.
But car insurance companies have their own set of criteria for determining whether a car is classic, depending on age, make and model (so you could even find you’ve been driving a classic car without realising it).

This matters because the cover provided by a classic car insurance policy will differ from a standard policy – more cover in some areas, potentially less in others, and with conditions attached relating to mileage and usage. And, in some case, the conditions imposed mean the premium for specialist cover might be less.

Getting Quotes

Is classic car insurance cheaper than standard car insurance?

Yes, it can be, because insurers tend to view classic cars as lower risk. They are not usually driven every day, they’re not typically used for school runs or driving to the shops, and they often have lower speed limits.

Owners of classic cars also tend to keep their vehicles in pristine condition and in a safe place such as a locked garage.

As a result, classic cars are less likely to be involved in an accident or stolen, and their owners are less likely to make a claim. Insurers reward this lower risk with cheaper premiums.

What does classic car insurance cover?

Classic car insurance provides the same cover as standard car insurance – you’ll be covered for the cost of repairs if your car is damaged in an accident, and you’ll be covered if your car is stolen.

Your third party liabilities in the event of your being deemed responsible for an accident that damages another person’s property or injures or kills them will also be covered, as will any of your medical costs.

But on top of this, you can also arrange extra cover for the following:

Restoration cover

It can take months or years to restore a classic car. If yours is being restored by a professional, they might already have cover in place to protect your car while they work on it. But if they don’t, or you’re restoring your classic car yourself, you can buy insurance to make sure it’s covered during this time.

As the vehicle is not on the road during this time, restoration cover will usually cost less than full insurance protection. But remember, even if your car is safely tucked up in the garage, it still needs to be insured.

Here’s what the government says on the matter:

You must have motor insurance for your vehicle if you use it on roads and in public places.

You do not need to insure your vehicle if it is kept off the road and declared as off the road (SORN). This rule is called ‘continuous insurance enforcement’.

If not, you could:

get a fixed penalty of £100
have your vehicle wheel-clamped, impounded or destroyed
face a court prosecution, with a possible maximum fine of £1,000.

Track day racing

If you’re planning to drive your car around racetracks – even if only at a leisurely pace – you’ll need the appropriate cover against damage and accidents. Your premium is likely to be higher depending on how often you race or how many events you take part in each year.

Vintage car shows

Make sure you’re covered for dents and scrapes if you’re planning to display your classic car at fairs and shows. Third-party liability cover will also be included in case you damage someone else’s property or injure someone.

Driving abroad

Car insurance policies usually provide third-party cover to drive in the EU. But if you’re involved in an accident and you are at fault, you’ll have to pay for any repairs to your own car out of your own pocket. Asking your insurer to increase the level of cover to fully comprehensive could be well worth it.

Breakdown cover

Classic car insurance won’t always include breakdown cover as standard. If you don’t have cover, compare how much it would cost to include breakdown cover as part of your existing policy against the cost of buying a standalone policy.

Note that some providers won’t offer breakdown cover for classic cars due to their increased risk of breaking down.

Is there a mileage limit with classic car insurance?

Because classic cars are not usually driven every day, many classic car insurance policies will include a cap on the number of miles you can drive each year – staying within the cap can help keep the premium down. Always check this limit when comparing policies to ensure you’re happy it is high enough.

If, once you’ve bought your policy, you believe you will exceed your annual limit, contact your insurer as soon as possible to arrange an extension.

What does an ‘agreed valuation’ mean?

With an agreed valuation, your insurance provider pays out a pre-agreed sum if your classic car is written-off or stolen, rather than the market value. This can be a good option if your car is worth more than the average for a vehicle of a similar model and age.

You must agree this amount with your insurer before you buy your policy, and taking this option might mean you’ll pay more for your policy.

How can I lower the cost of classic car insurance?

As with standard car insurance, there are a number of steps you can take to cut the cost of classic car insurance:

Limit your mileage

Agreeing to an annual mileage limit on your policy will often result in a discount. Just make sure it’s high enough for your needs.

Improve your car’s security

Your car’s age may mean it doesn’t have adequate security features. Simple measures such as fitting an alarm and a tracking device and keeping your car in a locked garage can help deter thieves and keep a lid on premiums.

Avoid modifications

Cars with modifications can be harder to insure, and providers that do offer cover are likely to charge considerably more. Modifications are therefore best avoided. But if you do make any changes, be sure to inform your insurer at the time you do them (don’t wait until your policy is up for renewal) so that your cover remains valid.

Join a car club

Some insurers will offer a discount of up to 25% if you join a classic car club as they see this as proof you’re committed to driving safely and looking after your vehicle.

An annual membership fee will usually apply, but in return you could take advantage of specialist rates from spare parts suppliers, as well as invitations to various events and track days.

Does my classic car need an MOT?

Classic cars that are more than 40 years old do not require an MOT, providing you have not made any ‘substantial changes’ to the vehicle over the past 20 years. This includes replacing the chassis, body, axles or engine.

It is still wise to get your car checked by a mechanic on a regular basis, however, as it’s your responsibility to keep your car in a roadworthy condition. If you don’t, you could be fined up to £2,500, banned from driving, and receive three penalty points on your licence.

Browse our website to discover what Classic Car Insurance we can offer you.

*ForbesAdvisor

Does your HGV have the correct insurance?

HGVs are the lifeblood of your business. Heavy Goods Vehicles (HGV) are trucks over 3.5 tonnes, and not having the right insurance could put the brakes on your business with devastating financial consequences.

Click here to read Does your HGV have the correct insurance?.

100 UK Classic Car Insurance Statistics for 2023 - Facts and Stats

With classic cars continuing to be both a passionate hobby and a source of investment for thousands across the UK, the classic car insurance industry has risen in prominence throughout the last two decades.

Click here to read 100 UK Classic Car Insurance Statistics for 2023 - Facts and Stats.

Do I need insurance if I'm self-employed?

Freelancers and small business owners are typically self-employed. Being self-employed puts you in control of your destiny. This gives you more freedom, but with that comes extra responsibility and the risk of being personally held liable for damage to property, equipment, an accident, death, or injury, not to mention eye-watering legal costs. No matter what type of service or product you supply, it takes a lot of hard work to become successful. The last thing you need is for all that effort to vanish overnight for the sake of taking out the right insurance.

Types of business insurance for self-employed individuals are

Public liability insurance
This form of insurance is vital if your work involves interacting with clients, customers, or members of the public. It covers the costs of legal claims made against you for injury, death, or damage to property that occurs as a result of your business activities.
Professional indemnity insurance
If you provide advice, consultancy, or professional services, this insurance can be invaluable. It covers legal costs and compensation if a client claims that your services caused them financial loss.
Employers' liability insurance
If you have employees, even if they are temporary or part-time, you are legally required to have this insurance. It covers you against claims from employees who suffer injury or illness due to their work.
Personal accident and sickness insurance
This type of insurance provides financial protection in case you're unable to work due to an accident or illness. It can cover loss of earnings and medical expenses.
Business equipment insurance
If you rely on specific equipment or tools to carry out your work, this insurance can cover the cost of replacing or repairing them if they're damaged, lost, or stolen.
Income protection insurance
Like personal accident and sickness insurance, income protection insurance provides a regular income if you're unable to work due to illness or injury. It usually covers a percentage of your pre-tax earnings.

Does it matter which industry you are working in?

If you are a tradesperson or an office-based professional, in the retail or hospitality sectors, you will need insurance. Whether you are a barber or a solicitor, a freelance journalist or chef, a builder or a dentist, to mention a few, you will need to be insured.

Does it matter how big your business is?

From freelancers to small and medium-sized businesses, having the right business insurance is essential. The risks and impacts on a business are the same, so size does not matter.

Pros of being insured

Legal protection
Legal costs can cost millions, and even if a claim is unfounded, these costs could cripple your business.
A financial safety net
If you're unable to work due to injury, illness, or other unexpected circumstances, you will survive through those difficult times with the support compensation provides.
Gain more clients
Your clients or customers need to know that you are covered should something go wrong. For example, if you are a builder and make a mistake that costs thousands while renovating a property, you are more likely to get the contract in the first place if you are insured against such events.
Peace of mind
Insurance gives you peace of mind, knowing that you're prepared for the unexpected that could wipe out your business overnight.
Value for money
Insurance premiums are a small expense compared to potential claim costs.

Get in touch with a good broker

Many clients will insist that you have business insurance in place before they offer you work. A good broker will find the right policies for your business, no matter what industry you are in. Brokers have access to thousands of policies from many insurance providers. This means your business insurance, in all its forms, can be tailored to you.

Get in touch today to find the right insurance policy that best protects your business

Tool thefts are on the rise

Tool theft is breaking new records, with 78% of tradespeople falling victim to tool theft in the past year alone and only 1% recovering their full kit.* When times get tough, crime rates tend to increase. With the cost-of-living crisis, many more tradespeople are seeing their tools stolen. If you can't work because your vital equipment goes missing, then it can cost your business heavily. That’s why it’s important to get adequate insurance coverage.

The consequences of stolen tools

Your business could grind to a halt if you are unable to work without your tools.
Your business’s reputation could be damaged if you can’t complete a contract on time.
The cost of losing a contract due to delays or because you are not able to work can cripple your business.
Some tools are complex and require proper setup, which can result in additional time and money expenses.
With a shortage of raw materials, some tools may take longer to replace, which will delay your business further.
Whether you operate by yourself or employ a large team, it’s not good for your morale or that of your team if work stops because of missing tools.

Why is tool theft rising?

Your tools are in big demand
The resale value of your tools has never been better thanks to a shortage in the supply of some materials. This has put the replacement cost of these items at an all-time high.
Lack of traceability
Unlike cars or certain electronic devices, most tools can’t be tracked, making them harder to trace and recover.
Poor security measures
Leaving tools on display in the back of your van or through the windows of your premises makes life easier for thieves.
Tools are easy to transport
Many tools are highly transportable. Easily loaded into a van quickly and with minimal effort, your tools are an easy target.

How can you minimise the risk?
There are many things you can do to try and prevent your tools from getting stolen, and these measures may help reduce your premium. Use CCTV cameras, alarms for premises, secure parking for vehicles, lockups, and lockable storage that is not on display. Mark your tools with your business name or postcode and do anything else you can to deter thieves.

How can insurance help?
Replacing tools is an expensive burden that could harm your business. It may take years to invest in and build up the right tools for your business. Having the right policy speeds up recovery if they're damaged or stolen, keeping your business running smoothly.

Get the right policies at the right premium
Various policies protect your business from sudden financial shocks . When it comes to your tools, you may need a specific policy depending on their value and your existing policies. Consult your broker to tailor the appropriate insurance package, including commercial vehicle, premises, and public liability cover, safeguarding your investment.

Should you add personal possessions coverage to your home insurance?

You are having a wonderful day at the beach with loved ones, making the most of a rare blue-sky day. After an awesome swim, you feel invigorated and return to dry off. You look for your wallet and phone that you carefully stowed away at the bottom of your bag. You can't find them! Have they been lost or stolen? Are these items insured? It’s easy to confuse what is covered in your home insurance policy with what is not. That’s why it’s vital to check the details of your policy. You might assume that your personal possessions, such as your wallet, watch, jewellery, and other items, are covered by your home contents policy when you are away from home. But that’s not always the case.

What is personal possessions insurance?

Personal possessions insurance covers precious valuables that you carry with you when you are out of the house and going about your day. So, whether you are commuting to work on the train or enjoying a family day out, the precious things you take with you are covered.

What’s covered?

Pretty much everything you bring with you is covered. From your clothes, keys, jewellery, phones, laptop or tablet, cash, wallets, handbags, purses, camera, and sports equipment to your guitar or any other musical instruments that you may play!

Items that might not be covered

All insurers are different, so check your policy, because certain items may not be covered.

If items get broken while they are being used, they may not be covered. For example, if you break your tent while putting it up on a camping trip or tear the sail on your wind-surfing board due to an accident. Your bikes will also likely not be covered. Some insurers may require you to obtain a separate gadgets policy to cover electronic equipment like your phone or laptop.

Going abroad?

It could be that your home insurance covers you for a certain level of travel abroad, but that may not cover your personal possessions. So, it’s vital that you check with your insurer.

Who is covered?

Typically, everyone in your household is covered by this policy. So that means if a member of your family is out for the day and their wallet or purse becomes lost or stolen, they are covered. But again, always check the terms of your policy.

It’s never too late

Almost anything can be insured. Discuss your needs with your broker to find the right policies. Insurance can save you and your family from devastating levels of expense with affordable premiums. Talking to your broker allows you to get the right policies in the first place, with a true understanding of what you are covered for. This helps prevent confusion and expensive errors. Remember, insurance policies can be adjusted or modified at any time by contacting your insurance provider.

Can improving your home invalidate your insurance?

Insuring your home is crucial, as it's likely your most valuable asset, and rebuilding can cost millions. Homeowners often seek to enhance their homes, from adding fences to full extensions or new bedrooms. It’s vital that you inform your insurance provider of any changes to your home. Making changes may not necessarily raise your premium or impact your policy. Yet, insurance providers vary, so it's crucial to verify, as inaccurate information could void your policy.

Don’t confuse building insurance with contents insurance

Buildings insurance covers the structure of your home, like walls, roofs, and floors, and often includes fixtures and fittings. Your mortgage provider will insist that you have this in place as part of their terms. Not to be confused with contents insurance. This is coverage against theft or damage to your personal possessions, typically anything that is not attached to the building.

Renovating your home adds value

Extensive improvements or extensions can increase the cost of rebuilding in case of damage. Even if you make improvements yourself, inform your insurer. The vast array of home improvements you can undertake is never-ending. From adding glass door walls, attic conversions, a conservatory, extensions, adding more bedrooms, a new kitchen, or an outbuilding for your business. Consider these scenarios:

You need to inform your insurer before renovations are carried out

If your property is exposed to the elements as a necessary process of alterations, you need to inform your insurance provider immediately. If you have temporarily moved out of your home and it becomes unoccupied, you may not be covered after a certain time period.

Adding a hot tub

After a long day at work, this is a nice way to unwind, maybe with a little drink. But if you get out, slip, or fall and injure yourself, or worse, if a guest or a member of your family suffers a serious injury, then you need to be covered.

High-value items

High-value wall art or paintings fall under contents insurance and are not defined as a renovation. That said, these items can easily be overlooked, and if they are of high value, you need to inform your insurer.

Starting a business from home

Starting a home-based business, whether in outbuildings or within your home, requires notifying your insurer. If a fire, theft, or accident occurs due to the equipment you use for your business, your home could endure significant damage. By neglecting to inform your insurer, you could cause thousands of pounds worth of damage and be unable to claim.

Take the right steps

Inform your insurer
The first step if you are making changes or improvements is to notify your insurer before they start.
Review your policy
Update your policy, and always read your policy details to check the terms of what you are covered for. If you are still not sure, get in touch; a quick phone call could save you thousands.
Consider add-ons
Insurers offer valuable extras like legal coverage, protected no-claims bonuses, or bicycle coverage at competitive prices, providing peace of mind.

Final thoughts

It’s always better to be safe than sorry, and you need to notify your insurer if you make any alterations to your home. It’s also vital to take the time to talk to your broker, who can answer any questions or queries you have when it comes to finding the right policy for you.

Get in touch today for a tailored home insurance policy

Is your classic car covered this autumn?

Your classic car has a special place in your heart as well as in your garage. A source of fun, beauty, escapism, and a great investment. You may have spent many hours restoring it and keeping it in top condition. That’s why it’s vital to get the right insurance to protect one of your most prized and perhaps valuable assets. With the leaves preparing to fall on the roads, the dark days and cold, wet weather of autumn soon arriving, there are more hazards for your pride and joy to avoid.

What is a classic car?
According to the government, specifically HM Revenue & Customs, your car can be defined as a classic:

If it is at least 15 years old
Has a market value of £15,000 or more

However, insurers often have their own criteria for determining a car's classic status, taking into account factors like age, make, and model. You may be driving a classic car without even realising it!

What is classic car insurance?
Classic car insurance provides the same fundamental coverage as standard car insurance. You'll be protected in cases of accidents, theft, third-party liability for property damage or injuries, and medical expenses.

Is classic car insurance more cost-effective than conventional car insurance?
Yes, it often is, as insurers generally perceive classic cars as lower-risk assets. Classic cars are seldom used for daily commutes, school runs, or quick trips to the shops. They typically have lower speed limits and are meticulously maintained, often residing in secure places like locked garages. Classic cars are less likely to be involved in accidents or stolen, leading to fewer insurance claims. In return, insurers often reward this lower risk with reduced premiums.

Consider add-ons and customise your classic car cover
It’s also worth considering add-ons for classic cars. These may include spare parts coverage, breakdown cover, legal cover, and coverage for attending classic car shows.

Restoration cover
If your classic car is undergoing a lengthy restoration process, you can secure insurance to protect it during this period.
Track days
If you plan to take your classic car on the racetrack, even for leisurely drives, you'll need specialised coverage for accidents and damage.
Vintage car shows
For classic car enthusiasts showcasing their prized possessions at exhibitions, it's wise to have coverage for dents, scrapes, and third-party liability in case of accidents.
Driving abroad
Standard car insurance policies may include third-party coverage for driving in the EU. Accidents where you are at fault may leave you responsible for your car's repair costs. Consider upgrading your coverage to fully comprehensive.
Breakdown cover
Classic car insurance may not automatically include breakdown coverage. Adding breakdown coverage to your existing policy may be a cheaper option than alternatives.
Mileage limitations
Since classic cars are not typically driven daily, many classic car insurance policies agree on an annual mileage cap. Staying within this limit can help lower your premium. Review this limit regularly and contact your insurer if you anticipate exceeding it.
Agreed valuation
With an agreed valuation, your insurer will pay a predetermined sum if your classic car is stolen or declared a total loss, rather than relying on its market value. This option can be advantageous if your car's value exceeds the average for its make and age.

Tips for lowering classic car insurance costs:

Limit mileage
Agree to an annual mileage cap, which can often lead to a discount. Ensure the limit aligns with your driving needs.
Enhance security
Improve your car's security features by installing alarms and tracking devices. Storing your classic car in a locked garage can further deter thieves and help lower your premiums.
Modifications
Cars with extensive modifications can be more challenging and costly to insure. If you must make changes, inform your insurer promptly to maintain valid coverage.
Join a car club
Joining a classic car club may earn you a discount of up to 25% on your insurance premiums, as insurers view it as a commitment to safe driving and vehicle preservation.