Tradespeople lose, on average, £1,427 every working week from lost business when their van is stolen, damaged, or written off, according to research by Direct Line business insurance.
More than three quarters (78 per cent) of tradespeople say their ability to work would be negatively impacted by the loss of their van, losing on average £285 every day.
On average tradespeople say they could only cope for three to four days without a van before their business is negatively impacted. However, almost a quarter (24 per cent) of tradespeople impacted by a loss of a van say they would take a financial hit within 24 hours of their van being taken off the road.
Direct Line business insurance provides small courtesy vans as standard to support tradespeople whose van is stolen, damaged, or written off. This is provided until their van is ready for the road again, if repairs are undertaken by one of Direct Line’s approved repairers.
Tradespeople who use their own repairer, or whose van is stolen or written off, will be given a small courtesy van for up to 21 days in a row. Almost all tradespeople who rely on their van (96 per cent) say that courtesy vans are helpful, enabling them to work and continue to earn.
Malkit Sihra, Product Manager at Direct Line business insurance said: “Vans are essential for businesses and mobility across the UK. Keeping a business afloat when there is a disruption can be stressful enough, especially when there’s a loss of income, due to their being stolen, damaged, or written off.
“Our small courtesy van offering helps provide peace of mind and keep tradespeople on the road to serve their customers. Over the course of 21 days, tradespeople could lose up to £6,000 and at a time where most households and businesses are facing financial pressures, we’re pleased we can help get tradespeople back on the roads quickly.”
For more information on Direct Line’s van insurance product, click here
