Eydens Auto Locksmiths, a highly experienced team of professionals providing emergency auto locksmith services, van security, immobilisers and replacement keys, has shared advice for motorists and commercial vehicle drivers struggling with ever-increasing insurance premiums.
The company, which serves clients across the West Midlands from its base in Coventry, offers emergency auto locksmith support and the installation of insurance-approved trackers and other security devices for companies, rental providers, and private clients.
Trends and Factors Behind Increased Costs of Car and Van Insurance Coverage
Spikes in the costs involved with keeping a vehicle on the road are far from a secret. An article published by the House of Commons Library last year addressed the fact that private driver quotations had risen by a staggering 82% since May 2021 – a period of just over three years—in comparison to a far more modest 21% rise in the price of other consumer goods and services.
Similar cost pressures apply to businesses and tradespeople, who have found that even the most competitive premiums available today remain 25% higher than in early 2023. This demonstrates that increases in insurance costs apply to all motorists, commercial and private, across the board.
There are varied factors, including the higher costs of repairing modern vehicles with more sophisticated technologies, increased rates of vehicle theft, especially for work vans, shortages of parts and components, and advancements in the techniques criminals use to target and break into or steal vehicles.
Vehicle and contents thefts have risen steadily over recent years, adding to the claims frequencies insurers account for when preparing quotations. The latest data from the RAC indicates that 30 vans are stolen daily in the UK, with a commercial tool theft every 12 minutes.
Further reporting shows that, despite the higher costs of replacing or repairing damaged or stolen vehicles, only 42% of vans sold as new are fitted with a manufacturer-approved alarm, and 5.5% do not have the capacity or connectivity to enable the owner to install a modern, high-functioning alarm system.
Expert Recommendations to Utilise Cutting-Edge Vehicle Security to Lower Insurance Premiums
Rob Eyden from Eydens Auto Locksmiths says, ‘Relying on the standard locks, doors, and occasional alarms that come fitted with your vehicle is, unfortunately, never advisable. This may increase the likelihood of needing to claim against your insurance at some point, and the chance that your quoted premiums are higher than anticipated.
We always recommend that our clients take a proactive stance when it comes to vehicle security, regardless of the type or value of the car or van they drive. This protects them from criminal activity and can make a real impact on how much it costs to keep their vehicle on the road.
Some massively cost-efficient options are available, including insurance-approved S7 Trackers and S5+ Imob Trackers. These effectively act as advanced immobilisers and mean your vehicle cannot be driven away without you being present with an encrypted card.
Adding a GPS tracker, or a hybrid immobiliser and tracker, isn't solely suited to theft prevention. Insurers may actively offer discounts, given that these devices make it easier for the authorities to trace and recover a stolen vehicle.
While we know many people are reluctant to opt for a ‘black box’ type device, most commonly offered to younger drivers, these trackers don't transmit data to your insurance provider but provide a great way to attract competitive premiums and position yourself as a driver an insurer will want as a customer.’
The Impacts of Advanced Vehicle Security Measures on Insurance Premiums
Most car insurance providers have a generalised set of queries that affect the premiums an applicant is eligible for. That might include parameters such as whether the car is parked in a garage, driveway, or public road overnight, the number of named drivers, and whether the vehicle is used for private, business, or mixed usage.
Opting to pay a higher excess on any potential claims, and shopping around when insurance policies become due for renewal can lower your premiums and is beneficial for those needing a good degree of coverage but with limited budgets.
Eyden adds that, ‘While a lot will depend on your insurer and your car or van, we’ve heard from clients who have saved a significant amount, with the average premium reducing by between 5% and 30% once they have provided evidence of an insurance-approved immobiliser or tracker – which might mean comprehensive coverage is more affordable, and the cost of a security device will easily pay for itself.’
Read more about Eydens Auto Locksmiths and Vehicle Security - Eydens Auto Locksmiths Advise Drivers of the Advantages of Installing a GPS Tracker
About Eydens Auto Locksmiths and Vehicle Security
Eydens Auto Locksmiths have over 20 years of experience and are members of both the MLA and the ALA, providing auto lock and key services to motorists in Coventry, Rugby, Nuneaton, Bedworth, Kenilworth, Leamington, Stratford upon Avon and Warwick.
Media Contact
Rob Eyden
024 7699 7703
https://eydensautolocksmiths.co.uk/
Source: Digital PR
Release ID: 1560931