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Categories
Due to skyrocketing rates of van insurance, some people have had to change their mind about starting their own businesses. Recently, the Liverpool Post interviewed a disgruntled gardening entrepreneur who’s being held back from starting his own business due to premium prices.
According to Stefan Casson, 20, he cannot start his own gardening business because of the pricey rates of van insurance that he will have to pay. The thousands of pounds worth of van insurance is unfortunately not on Mr. Casson’s budget.
He holds a Level 2 diploma in horticulture and is well-trained to start his venture but finance has become a major issue. A resident of Runcorn, Mr. Casson also stated that some firms refused to entertain him simply due to the fact that he was from Runcorn. The best prices offered to him by car insurance comparison websites were £3,587 and went up till £4,517.
This isn’t news to most of Britain’s young people from the age of 16 till 24 who want to start their own businesses, reports the Liverpool Post. Vehicle insurance has become a herculean task for youngsters wanting to work, which is also a reason for the fact that there are more than a million unemployed young people in the UK presently.
“I am trying to open my own business doing what I love, which is gardening,” said Mr. Casson.
Although he has received £500 grants from both the Halton Council’s People Into Jobs scheme as well as the Liverpool Housing Trusts, the insurance costs will be a major obstacle. The grant money will go into uniform and equipment for gardening whereas Mr. Casson has a budget of £2,000 on buying a second-hand van for his business. However, he has had no support in the way of grants to cover his motor costs.
“I am trying to better myself in life and move forward but cannot do so if I cannot get insurance,” continued Casson, “I emailed David Cameron, who still has not got back to me.”
“I have the qualifications to open my business but the only thing which is stopping me is the sheer price of insurance on a small Vauxhall Combo 1.3,” he said.
Stefan Casson even approached a number of banks for help but it was all in vain.
“I don’t know what to do anymore. If I don’t get a loan, I cannot get insured. If I do get a loan, I’ll be paying off all year with no profit to my business. It’s a Catch 22,” Casson deplored.
“I believe the reason the insurance is so high for me is because some companies are ageist,” he finished.
With cheap van insurance becoming a myth, especially for the younger generation, there are many like Casson who are caught between a rock and a hard place.
Prime Minister David Cameron called a high-powered summit earlier last week to address the growing concern of rising prices in car insurers, a fault that insurers blame on whiplash claims.