Big firm offers insurance by instalments
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BY S. BUCKLEY
A NNUAL vehicle excise duty, insurance
-s• premium and possibly other financial commitments all falling due at the same time often tend to create circumstances in which commercial vehicle operators are liable to consider offers of lower premiums from insurance companies which, as recent events have shown, fail to stay the course.
Appreciating this, the General Accident Assurance Corporation and its associated company, Road Transport and General, in conjunction with Lloyds and Scottish Trust announced this week the immediate introduction of a motor insurance instalment plan, applicable to both commercial vehicles and private cars. Initially it will be limited to renewals but subsequently extended to all classes of insurance.
As an example, an operator of a 7-tonner with an annual comprehensive insurance premium of £130, could pay a minimum deposit of 20 per cent, i.e. £26 leaving a total of £104. Adding charges of £9 7s., the instalments balance of £113 7s., could be paid off as 10 monthly payments of £11 6s. 8d., or three quarterly payments of £37 15s. 8d.
Knights Rentabay: The address of Knights Rentabay Services Ltd. is 15 Nutter Road. ThorntonCleveleys. Lancs., and not 1 Nutter Road as appeared in COMMERCIAL Moron. March 31. Main purpose of the company is to offer bays and tools to those members of the public who wish to do their own repairs and servicing.