FTA's light vehicle insurance scheme
Page 18
If you've noticed an error in this article please click here to report it so we can fix it.
• A special goods vehicle insurance scheme is now available to Freight Transport Association members who wish to take advantage of the freedom given in the Transport Act to operate vehicles of under 30cwt unladen for hire and reward as well as on own-account.
In the past substantially higher premiums have been levied for hire and reward work than for operation on own-account. Any vehicle operator who takes advantage of the freedom given in the Transport Act to operate for hire and reward—even if only to help out a neighbouring trader—without extending his insurance would be without cover and in breach of the law.
Comprehensive, third party fire and theft. and third party only cover is offered under the scheme for commercial vehicles of up to 30cwt unladen. Features of the policy are cover for third party claims arising out of the collection and delivery of goods, to or from the insured vehicle, beyond the limits of any carriageway or thoroughfare, by the policyholder's driver or attendant, and cover for third party claims arising out of death of or bodily injury to non fare-paying passengers carried in or getting on to or alighting from the insured vehicles.
When the driver of the insured vehicle is under 22 or has less than a year's recent driving experience a £25 excess will apply.
No claims bonus is given as follows: first renewal: 15 per cent; second renewal: 20 per cent; third renewal: 25 per cent; fourth and subsequent renewals: 30 per cent.
Premium details and a comparison with general market rates for own-account only operation are as follows: