Towergate boss hails new PAYD haulage insurance product
Towergate Insurance is launching Azudrive, a pay-as-you-drive insurance product which it claims will revolutionise the haulage industry.
Azudrive calculates an individual rate per kilometre from a standard insurance premium, and multiplies this by the number of kilometres travelled every month.
The product is utilising digital tachographs, now fitted as standard in all heavy goods vehicles since 2006, to record the distance travelled. Drivers will then pay for the distance they drive.
Towergate deputy chief executive, Amanda Blanc, described it as an “undeniably fairer method of insurance premium calculation".
She added: "Whether you’re a goods vehicle operator doing local haulage and struggling to find regular work, or generally doing below average mileage, Azudrive could potentially save operators up to 25% on their insurance premium.”
Towergate is the broker for the Freight Transport Association (FTA) and the Road Haulage Association (RHA).
The FTA said: "We welcome the opportunity to help our members control operating costs through reducing insurance premiums.
"The new 'pay as you use' nature of the Azudrive service will benefit many operators especially those who may not have their vehicles in use 24/7. It is an exciting development especially in an environment where cost control is at the forefront of most daily agendas."
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