By Scott Tillbrook Head of Commercial Motor at ERS
We’re happy to announce some changes to our Transportation product to help get more HGV drivers on the road and help their employers better manage the increased demand for their haulage services.
Increasing the number of haulage vehicles
We know that haulage firms are having to buy or lease new HGVs to cope with market demand. But at the same time, no one knows what the future will hold: for example, whether the sharp increase in online shopping will be sustained or whether the pandemic will create further unexpected market disruption.
What we’re hearing from brokers is that haulage firms need their insurance providers to be as flexible as possible when it comes to adding new vehicles. In response, we’re permanently increasing our Transportation underwriting appetite from 1-5 vehicles to up to 10 vehicles on a single policy. It’s our way of providing more cushion to each policyholder, and it will allow us to form closer partnerships with their brokers as they help their clients navigate the ongoing harsh conditions.
Further, with our Transportation product, every vehicle gets priced on its individual merit. We will continue to allocate individual no claims bonuses for each vehicle, meaning that policyholders never get penalised for adding a new vehicle that doesn’t have any claims experience.
Lowering the minimum driving experience
New Class 1 and Class 2 HGV licence holders often find it difficult to get competitive cover due to their lack of experience. So, we’ve decided to lower our minimum driving experience required by haulage drivers from two years to just one year.
It’s a change that will benefit thousands of drivers who joined the industry when Covid-19 struck. And, over time, it will help reduce the current industry shortfall by making it easier for less experienced drivers to get on the road with a policy that’s both affordable and fit-for-purpose.
To tell you more about our Transportation product and share our thoughts on the wider market, we’re hosting a special Q&A webinar on Wednesday 20th October at 10.30 with some of our Transportation team experts.
You can reserve your place here
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