Small Charity Week (19th – 24th June) shines the spotlight on the vital work of small charities across the UK. Recent figures from the Charities Aid Foundation however show that charities are having it tougher than ever, with more than a quarter of the UK’s small charities reported to be struggling to survive in the current financial climate.
Challenges include meeting growing demand for their services whilst balancing the books and trying to generate more income.
As well as looking at revenue generation and new methods of fundraising, such as increased use of social media, charities also need to operate as financially lean as possible. Expenses and overheads need to be scrutinised to ensure there is no unnecessary overspend. Insurance is a crucial part of the effective running of a charity and there are many things that can be done to reduce the cost of premium without compromising the level of cover. In this blog, I look at what charities can do to control their motor insurance costs..
How can you save money on your minibus insurance?
For many charities and community groups, a minibus provides vital transport.
With charities under financial pressures there’s a need to obtain value for money, but to also ensure you have adequate insurance cover from a legal perspective and a duty of care towards your passengers.
So, how can you save money at your next insurance renewal? When calculating your annual insurance premium, insurers take a number of risk factors into account to determine how likely it is that you will need to make a claim. Some things to consider include:
Demonstrating that you are implementing risk management initiatives may also lead to the insurer looking favourably and offering a discount as a way of acknowledging your commitment to reducing potential accidents and claims. These can include:
Have the right kind of breakdown cover
When considering minibus insurance, it is also advisable to take out adequate breakdown cover, but bear in mind that the cheapest isn’t always the best.
Imagine your minibus breaking down in the middle of the countryside at night, full of vulnerable, young children or elderly passengers and then realising that you either don’t have breakdown cover, or that the breakdown cover you have doesn’t include onward transportation of all the passengers.
Such cover may be available as a relatively low-cost addition to your minibus insurance policy, so check with your broker.
QBE for minibus insurance
Few insurers know the minibus market like QBE. Over the past 20 years, we have insured hundreds of thousands of minibuses and are regarded as UK leaders in minibus insurance.
We can insure all types of minibus, including specially-adapted vehicles. We also provide breakdown cover which includes European cover, homestart, roadside assistance, relay and onward transportation of all passengers.
Our 2017 Minibus Operator Handbook contains useful information on managing risk. Download it for free here.