HGV insurance set to increase by 2010

Quote Me Today, an HGV insurance specialist, has cautioned customers to be ready for a rise in the cost of insurance next year. The warning comes after reports from Deloitte, a major international accounting and consulting firm, stating that more than 85% of insurers are planning to raise their premiums starting in 2010.

The yearly survey of the insurance industry showed that at least half of the insurers questioned planned to increase premiums by 5-10%. Another fifth of insurers estimated increases of more than 10%. Insurers are blaming these increases on the large number of uninsured drivers on UK roads and on counterfeit motor claims due to the recession.

A spokesperson for the company said that this news is coming to motorists at the end of a bad year, considering the rising costs of fuel. However, even with the inevitable hikes in insurance premiums, the company have said that they will do all they can to reduce the impact on their clients.

It is also important for motorists, and especially HGV drivers, to get proper training before applying for insurance. This will enable them to reduce their insurance premiums to some extent. Well-trained drivers from a good HGV driver training institution can make quite a difference to the premiums paid by drivers or companies.