Industry News from Yes Insurance
12 May 2008 'Real-world data' needed to set van benchmarks
The benchmarks used to decide how much a van ought to cost at auction when being resold need to be changed, it has been claimed.According to chief commercial vehicle editor for Eurotax Glass George Alexander, the standard method for assessing van values should be replaced by a "real-world" alternative.
Panel vans and robust vehicles should not have their value assessed on the basis of the same criteria that is used and generally designed for the purpose of rating commercial vehicles, Mr Alexander maintains.
"The industry yardstick for average mileage falsely favours those less robust products that will survive intact to a modest mileage, but would fare far worse as the 100,000-mile mark approaches," he said.
In other van insurance related news, the RoadSafe organisation has welcomed the plans from the government to bring in new qualifications for people aiming to work behind a wheel.
