Do You Have Enough Insurance Cover?

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A declining market means that paying the highest premium is not the wisest decision, especially when you’re insuring your livelihood. When selecting your insurance provider, consider the following: Would you need a replacement car with dual control? How long would it take to get it?

If an accident occurs, is your no-claims bonus protected? Do you know the length of time it is protected? You do have to consider that for the sake of what may be an additional £20 on your insurance could save your job and increased insurance premiums the following year. The following advice could save you hundreds of dollars.

The Basics
Car insurance is required for all drivers in the UK who drive their vehicles on the roads. This has been the case since 1930. For driving instructors, there are many levels of car coverage. It is important to compare the policies of different providers and companies when you’re looking for driving school coverage. It will be clear that insurance costs can vary from one provider, and that they will differ based on what level of coverage you have. You can compare different providers to find the best deal that suits your needs. You should consider a few things when looking for insurance to insure your driving school car. First, you should know that any time you place dual controls in your vehicle, your standard private car insurance will no longer cover you.

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A specialist broker is better than one that sells insurance directly or through an online aggregator. These will not give you the right coverage, even though your occupation and business use are correct in the quote engine. Check you have been given comprehensive cover; it should also include any driver for test and tuition windscreen cover & cover your basic legal liabilities in the event of damage or injury caused by you or your passenger to a third party.

Additional Covers
It is important to review the details of your policy. While many insurers provide all or part of the following coverages, the extent of that coverage can vary greatly so you might not get what you paid for. You should make sure that your policy includes a dual-control replacement vehicle in the event of a claim. You should check that the dual control replacement car is supplied for fault and non-fault incidents including fire theft & vandalism it would be worth asking if you would get a replacement vehicle should you put the wrong fuel in the engine as this has been known. You should also check how long it takes to get a dual-control replacement vehicle. Not all policies will guarantee you a vehicle. Some will not provide it for you until they are available, while others will give it to you for a specific time.

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The No Claims Bonus, or the No Claims Discount (NCD), is one of most important features in your car insurance policy. There are many different insurers that offer NCD. A year of claim-free motoring could get you a discount as high as 60%, or as low as 15%. The amount of your NCD that you receive if you file a claim will vary between insurers. You should protect your no-claim bonus once you have it. You can get a protected no claims bonus if you have a minimum of 4 years NCB. However, some insurers will provide protection for your NCB for as little as one year. Ask your provider if this is available. If you are looking to prevent your insurance premiums from going up after a fault claim, the protected no claims bonus can be a valuable tool.
Do not forget that claims by pupils who are involved in a fault accident can be used against you as the policyholder.

There are three choices
1. Unprotected will lower your insurance premiums, but it will also risk your no-claim bonus.
2. Protected No Claims Bonus. Although this bonus will not cost more than your insurance premium, it will allow for a limited number of fault claims. Before you reduce your no claims bonus, make sure you verify how many claims you policy allows. You should also remember that your policy may only cover 2 claims in 5 years.
Your no claims bonus will be no longer protected and you may have to pay more premiums because of it.
3. Guaranteed no claims bonus This is the most important level of insurance and protects you valuable no-claim bonus, regardless of how many claims you make. You will receive a guaranteed zero claims bonus, regardless of how many or what type of claims you make. This is available for the entire life of the policy and at renewal. This cover is available to you if you do not have it.

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Liability coverage, liability insurance, is a crucial part of your protection. They are often mixed up and rolled into a single. Make sure to check the motor policy that covers you. Public Liability is a statutory liability cover provided under all motor policies cover is normally for a minimum of £20 million and covers you for third party property damage and injuries brought about by an incident involving your vehicle. Extended liability covers you for liability while performing the DSA. Driving instructor liability: This protects against injuries resulting from pupils receiving driving instruction that considers there has been negligence by the instructor. It is important to make sure that all your liability covers are covered. Some policies may only include RTA Public Liability. Ask your insurance provider whether they offer liability while you are under instruction and extended liability.

Additional coverages that you may find valuable are: cover to teach trainees; post-test and advanced tuition coverage for banned and convicted driver who are resitting the driving test. Also, cover for mock exams performed by another instructor to your pupils. Fleet Driver Development With a tight market many instructors are branching out into other forms of driving tuition this includes the fleet driver training market, which is growing due to the requirements on companies brought in by the Health & Safety legislation. The fleet driver development policy covers you while giving tuition in client’s vehicles. Also known as a demo drive, it covers you as a driving tutor using the vehicle for work. Many company fleet policies do not cover driving instructors. This coverage usually requires a small premium.

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Coverage for trailer training is another area that is growing in demand since the DVLA does not automatically include this on new driving licences. Legal Expenses: There may be two types of legal expenses insurance offered to you before or after the event. Most will be offered before the event. However, it is important to verify that you do not have an after-the event policy. These policies will require you pay an additional premium in the event you need to file a claim. Legal expenses coverage should cover the costs of expert witnesses, court costs, and legal costs awarded to each side. You may also be covered for legal defense costs. In order to protect you from losing your case, insurance should be taken out after the event. The amount of cover can vary with amounts ranging from £50,000 to £100,000 not uncommon. Breakdown Cover: Many large breakdown providers won’t cover driving school vehicles because they are used for hire or reward. They may not provide full coverage if you don’t inform them about your vehicle. Your broker should be able offer you a breakdown policy that covers both you and the vehicle’s use as a driving instructor.

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Money Savings
You can reduce your insurance premiums by doing a few simple things without having to decrease your coverage. Insurers will give a discount to keep your vehicle off the roads, especially in high-rated areas, if you have a garage. You can save substantial money by taking additional training. Additional security may also be available to provide discounts. If you have an immobilizer, tell your insurer about it. This can reduce your risk and help you get a discount on your premiums. Ask if you can increase, your excess most insurers ask for a standard £150 excess to be paid increasing this by just £50 could reduce your premium.

Things You Could Pay For
1. You could be misleading your insurance company. Whether you are trying to deceive your insurance company, or not, it could lead to your coverage being cancelled and you having to pay the bill. Failure to disclose all accidents or claims, including those that were made while a pupil was driving, could result in you having to pay a high premium before your claim is paid. Any modifications must be disclosed, such as larger exhausts or alloy wheels and expensive aftermarket stereo systems.
2. Insuring your car can be expensive. It’s surprising how many people don’t know what their car is worth.
3. Fronting. You can front. Insurance for young drivers is expensive. Parents often insure their children’s cars in their own names, assuming that the car is registered under their name and is only used occasionally. This age-old trick can be considered fraud and could lead to serious consequences for all parties. The insurance policy could be cancelled and the mature driver could face a severe fine or even a sentence in prison.

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Before you sign up for a policy, you need to get a copy of your quotation. This will allow you to understand what you are covered for and the terms and conditions of your insurance provider. FSA regulations require all insurance companies, brokers, and agents to provide a copy to you. Ask to see it before buying. Driving instructor’s insurance companies also charge for their services. Make sure you read the small print and understand what charges you might be subject to if you need to change your vehicle or move. These charges can be extremely high. All insurance companies should be capable of providing you with a copy before you sign up for a policy. Have you checked what charges are applied should you want to cancel your policy some insurers charge as much as £70 for this! It makes you wonder, doesn’t it? The great deal you thought was yours is now gone. You could be saving hundreds, even thousands, of pounds each year by checking this. Part 3 & Check Test Cover If you require insurance to take your part 3 test or ADI check test in your own private vehicle you will need to take a specialist one day policy out this will provide cover for you and any instructor for the duration of the exam. Your current private vehicle policy does not cover any additional driver. The examiner will not be able to use this coverage. You should check that your policy includes a replacement vehicle and have an excess of normally £150.00.

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