A HAULIER from the Leinster region contacted The Irish Field this week to highlight the impact rising insurance fees are having on his business. Hire and reward insurance is essential for hauliers and anyone who carries people or the property of others, horses for example, in exchange for a fee. However the gentleman, who wished to remain anonymous, stated that very few insurance companies now offer this type of cover. He himself has been with the same insurer for nearly 20 years.

Four years ago this gentleman experienced a high increase on the cost of his insurance and nominal increases thereafter. This year his insurance has gone up in the region of 70-80%.

The driver has a full no-claims bonus but states that he has “nowhere else to go” as the market is dominated by this one particular insurer. He continued: “There is very little competition within the market. They know they can get away with these increases, which are extortionate. There was a big rise in the cost of insuring our vehicles a few years ago and now this on top of it, they are crucifying us.”

Our industry insider has fully comprehensive hire and reward insurance but is charged an extra daily fee when travelling across the water in mainland Europe, to maintain his fully comprehensive cover. If he did not take out this extra cover he would only have third party insurance cover.

Are you in a similar situation to this gentleman? You can get in touch with us at The Irish Field by emailing editorial@theirishfield.ie