New start-up

Q. I am thinking of starting up on my own and running a five-year-old 32-tonne tipper. As a brand-new start, can you give me a very tough idea of what insurance premiums I should expect to pay?

A. Assuming this is your first insurance of an HGV, and therefore you do not have any no-claims bonus, then dependent upon where you are based and the number of years’ driving experience you have, as a very rough idea I would say your motor insurance premium could be between £4000 to £5000. In addition, you will need public liability and possibly goods in transit cover which might cost you another £300 to £400 – again, as a very rough estimate. Of course, premiums will vary dependent upon whether you are based near certain major cities as apposed to a more rural location, your age, number of years experience etc.

Deal or no deal?

Q. Another van ran into my van and the other driver immediately admitted it was his fault. His insurance company has now contacted me saying they will deal with my claim for the damage, and they will organise a hire van while mine is being repaired. Is it okay for me to deal with the other driver’s insurance company, or should I be asking my own insurance company to sort it out?

A. There is no reason why you should not let the other driver’s insurance company deal with the claim, assuming you were not injured in the accident. If they are organising the repairs and providing you with a replacement vehicle, then this could be the total of your claim. However, you need to advise your own insurers of the accident, even though it was not your fault. This will not affect your own policy, but it is your duty to advise them of any accidents.