Part Time Valeting Business
January 30th, 2012
The Courier business
January 13th, 2012
Renting out your own home
January 5th, 2012
80mph speed limits on the way for Dual Carriageways
December 21st, 2011
Earlier this year, in September, Think Insurance brought to you the news that our motorways could be seeing a rise in the speed limits, to 80mph. Now we bring you the news that this could also be the case for the dual carriageways across the country.
Last night it was revealed that ministers are now focusing on more than just motorways in terms of increasing speed limits in a bid to reduce red tape.
The proposal to increase the speed limits initially came from Philip Hammond, the former Transport Secretary.
It is thought that early in 2012 a ‘formal consultation’ will be launched into raising the speed limits. The document issued from the Department for Transport, confirmed the following, “We have announced our intention to consult about changing the national speed limit on motorways from 70mph to 80mph. We are also examining whether an 80mph should be extended on a case by case basis to some other dual carriageways”.
This news will be welcomed by many, with some supporters of the proposals claiming that the economy will be boosted as a result of the changes.
As expected not everyone is supporting the plans. The Energy Secretary, Chris Huhne is against the proposals, claiming it will certainly lead to increased carbon emissions. Motoring and road safety groups are also opposing the plans, mainly because of the current police guidelines which means they are able to issue speeding fines with discretion using the 10% + 2mph formula. Safety groups are worried that if the speed limits are increased to 80mph, then drivers will be able to get away with speeding up to 90mph.
Edmund King, the president of the AA, is in support of the increased limits on the motorways, but is said to be concerned about the proposals for the dual carriageways. He comments, ‘”Eighty miles per hour on a five star motorway, in a five star car, with a five star driver in good weather, is probably a safe speed. However, 80mph on some lower standard stretches of motorway and dual carriageway is probably not a safe speed. We need to ensure that adequate enforcement and highway safety standards are in place before contemplating increasing speed limits”.
Robert Gifford, Executive Director of the Parliamentary Advisory Committee for Transport Safety is in agreement with King, saying, “While I accept that there is a perfectly legitimate case for reviewing the speed limit on motorways, I would be very concerned about extending it to dual-carriageways.
Gifford goes on to say, “These have often been designed for lower speeds and are used by a variety of traffic, often for local journeys. The government should think very carefully before extending such a proposal to completely inappropriate routes”.
Major changes afoot at Renault
December 21st, 2011
Car showrooms across the UK will no longer be stocking five Renault models as the car manufacturer takes the decision to axe them from the range.
So from early next year (February 2012) the following Renault models will have been removed from the UK Renault showrooms.
• Laguna – Hatch, Coupe and Sport Tourer
• Kangoo
• Wind Roadster
• Modus
• Espace and Grand Espace
Renault are said to be taking this radical step in an effort to increase profits. The five models facing the axe are said to generate just 10% of all sales. In 2011 Renault sales will reach around 70k-80k compared to last year when they sold closer to 100k vehicles.
However, Renault will be introducing some new models to their range next year, so in March, May and October, showrooms can expect to see the arrival of the electric car range, with the Twizy, Fluence and Zoe. They will also be launching a budget range of cars under the brand Dacia, with the Duster and Sandero models at the end of 2012.
Here to stay is the Renault Clio Supermini, the Twingo, the Megane and the Scenic.
The above changes are expected to cause a drop in sales of around 25% initially as the new ranges become established.
So if you were hoping to get yourself one of the five models that Renault are scrapping next year, the places you are likely to find them are at your local used car dealers and motor trader forecourts.
Useful tips for insuring your business.
December 16th, 2011
Do roofers need public liability insurance?
December 15th, 2011Everyone who works in the building trade has to accept that certain risks are involved with the business. There are many dangers to look out for in all the areas of expertise, but top of the list has to be the roofing trade. Working with hot bitumen, naked flames and asphalt puts it pretty much `up there` when it comes to dangers in the work place! This then begs the question – Do roofers need liability insurance?
Whilst roofers may need public liability cover, there is no legal obligation for them to obtain it. This may seem extraordinary when you consider the potential for accidental damage to both property and people. Should an accident occur involving anything to do with your workmanship or supplies, then you could be liable for a substantial claim. Adequate cover could give you the peace of mind to help you carry out your work safely and without added stress. Hopefully you will have many years of safe roofing work, and never have the need to make any claims or suffer any accidents to yourself or others.
Should you decide to set up your own business as a roofer, the incidents that could happen can vary from minor accidents that you will find in any trade business, right up to fatalities . If a roof were to give way and collapse, you will be held responsible for any damage caused; not to mention the possibilities of injury to any other persons. The very nature of working at heights and with flames makes it a fairly dangerous profession (having had a father who was a roofer, the heights and naked flames were also part of the enjoyment of the job though!).
You may find that being able to prove to a client that you have adequate insurance cover, could make the difference between winning and losing the contract. In this day and age, more customers are wary of employing `rogue traders` and reassurance of your professionalism and credibility could go a long way to easing their mind about the work you are carrying out. Recommendation is by far the easiest and cheapest advertising.
There is no `set` policy to cover the roofing trade, this will be worked out depending on your individual requirements. This makes it custom made to your area of expertise: Do you carry out hot or cold roofing (tiling, slates etc)? Are you employing anyone or working alone? Are you contracting out the work? Most likely you will need a vehicle to carry around equipment and materials; this can be included and covered at the same time.
Only employer’s liability and vehicle insurance is actually required by law, covering anyone who is working under your employment and allowing you to drive from job to job. There is no obligation for you to obtain any more cover, regardless of how precarious the working environment is. You may not need to have full cover, but when you ask the question – do roofers need public liability insurance? You may have to ask the question – can I afford not to?
Drink Drive Rehabilitation Scheme
December 15th, 2011On the 31st December 1999, following an experimental period by the ‘Transport Research Laboratory’, the ‘Drink Drive Rehabilitation Scheme’ became permanent – thus giving Courts in England, Wales and Scotland the power to refer offenders to approved courses. This was a milestone in the punishment of drink drive offenders – finally clarifying the position of the offender and the court.
Results of the scheme found that it had been effective in reducing the re-offending rates of those who attended by nearly 60%. An astonishing decrease when compared with previous years.
Manufacturers: Make a direct saving!
December 15th, 2011In times where the economy is largely dependant on the manufacturing sector to help stimulate a financial recovery. Therefore there is yet another reason to ensure not only that you have the obligatory or standard insurance covers, but that you go one step further.
Some UK insurers are now offering extra extensions of covers for no additional premium, so making your hard earned pounds go that little bit further.
Is your company dependant on other companies to provide you with raw materials or parts in order to maintain production levels? Do you rely heavily upon a small number of customers? Even if the answer is no to those questions, your company could still ben
efit from a suppliers or customers extension onto the business interruption section of your policy. Some insurers are now offering 10% of your turnover or £100,000 cover as part of their standard wording at no additional cost. So if a supplier or customer of yours were to experience a fire or other insured peril, you can be reassured that you have some protection in place. Higher sums insured are available at an additional premium.
It is common knowledge that public and products liability are a ncessity for most businesses. However did you realise that there is only cover for damage to third party property or third party injury. What happens if there is a claim where neither of these has occurred, but a third party is out of pocket through your negligence? This type of cover is call ‘financial loss’ and is an extension under the public and products liability section. This cover is often over looked, however a number of manufacturers will have an exposure.
Directors and officers liability is a cover that more and more business owners are investing in as more bodies such as the HSE are looking to prosecute directors of companies, rather than the company itself. The idea being this prevents the prosecution from being avoided through a phoenixing of the company under investigation. Again some UK insurers are now starting to offer this cover as part of their standard wording. In some instances this could make you a direct saving.
B&B Property Insurance
December 12th, 2011Not surprisingly, in these economic times and with airport duty on the rise, tourism is one of the largest industries operating in the United Kingdom. Turning over £2,000,000,000 a year, the Bed and Breakfast part of the sector occupies around 35% of the entire hotel business. Although this makes it a highly competitive market, good service, clean premises, and polite & helpful staff are still greatly sort after. This will no doubt increase your rate of occupancy should you choose to enter the industry. As with any business that involves keeping guests happy and looking after their health and safety, insurance for a Bed and Breakfast business needs to be properly revised and appropriately arranged.
Whether you choose to buy purpose built premises, or convert your own home for guest accommodation, you will require far more cover than standard householders insurance – although the building itself would be covered in a similar way to regular house holders insurance, for loss against flood damage, fire, subsidence, lightening, explosions etc. Below are some of the types of cover you will need to consider in this particular line of business.
Contents
Apart from your own contents and area of living (if this applies), there is also the business contents. This will cover you for all the areas that the guests have access to and contents that are used as part of the business. You can also cover any monies or cheques held on the premises.
You will of course need to have in place the appropriate licence before selling alcohol to the public. Stock such as perishables and refrigerated goods are vulnerable to breakdown and may also need to be covered against loss or damage. Certain clauses such as the age of the refrigerator or cooking appliances will apply and reputable insurance companies will advise you on what is valid and what is not.
Business interruption
Should your business be unable to function as normal due to flood damage, fire etc, then business interruption insurance could be a very valuable option. Renovating a property after any damage can be a lengthy process and could make your rooms inaccessible and therefore considerably reduce your income. Many businesses are now having to find ways of earning extra money and opening a bar selling wines, spirits, beers & cigarettes may be a viable option. Should you then have your licence revoked and are unable to trade in alcohol this can have an adverse affect on the value of the business. You may wish to have this extra cover added to your policy. Another consideration will be whether you choose to open the bar to the public as well as your guests. This will undoubtedly increase the risk to your property and guests`, and therefore increase the cost of your cover.
Public and employers liability
Public liability insurance will cover the general public against negligence, accidents or even infectious diseases whilst they are present on your property! It is the law to have employers insurance should you choose to take on employees.
There are many other areas to consider when taking out insurance for the Bed and Breakfast business. Some examples:
Will you shut down during the winter? Do you intend to allow guests to hold their own events on your premises? Will outside caterers be entering your premises, or will you provide catering for outside events?
B&B property insurance may seem complicated and time consuming, but providing you are honest with your broker and inform them of any changes you undertake in the future, then they will be able to help you and offer advice on the most suitable policy for your specialised business.