Fleet News

Van insurance costs could fall

FLEET managers could potentially reduce their insurance costs by using a new scheme that rates vans on security.

Insurers’ research centre Thatcham has announced vans are to be included in its New Vehicle Security Ratings (NVSR) scheme, which has included ratings for passenger cars since 2001 and is one factor used by insurers to set group ratings.

The ratings take no account of the relative costs of different makes and models or their attractiveness to thieves and are based on a series of other factors.

For ‘theft of’, these factors include ignition/steering column lock, peripheral locks and mechanisms, electronic security systems, vehicle identification, glazing and key/component management.

Those for ‘theft from’ include peripheral locks and mechanisms, alarm system, electronics and glazing.

The ratings are based on Thatcham security assessments.

Mike Briggs, vehicle security manager at Thatcham, said: ‘This latest development perfectly demonstrates Thatcham’s continuing drive to be as transparent as possible with our research, for the benefit of insurers, motorists and the users of commercial vehicles.

‘Security levels on a particular vehicle can be an important part of the purchasing decision and armed with this information, consumers, small businesses and fleet managers now have even more information on which to base their choices.

‘Such decisions can significantly help all our efforts to reduce vehicle crime, particularly in high growth sectors such as vans where the UK fleet has increased by about a third over the last decade.’

Research by insurer Royal & SunAlliance found that almost half of all vans which are operated by small businesses in the UK are damaged by criminals each year, and that each claim costs in the region of £3,000 (Fleet News, August 3).

  • Van ratings can be viewed by visiting website www.thatcham.org/nvsr.
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