Could limiting top speed for vans lead to cheaper insurance?

Limiting the top speed for vans and other commercial vehicles could potentially lead to not only safer roads but cheaper commercial van insurance as well, one insurer has recently said.

A major commercial vehicle insurance provider approved of a new report from the Freight Transport Association that found limiting a van’s top speed to just 70mph could be highly beneficial. Joe de Vries, the insurer’s representative, remarked that a top speed of 70mph would led to a reduction in the number of road traffic accidents because vans will be much safer in this instance – with the end result that insurance premiums for van owners and operators could drop by a significant amount.

Mr de Vries also pointed out that placing speed limitations on commercial vehicles by their manufacturers could also lead to improvements in fuel economy. Fuel consumption would be lowered by reducing strain on engines that can no longer exceed 70mph, and with the rising cost of fuel in the UK, this could also spell significant savings.

Moreover, maintenance and repair bills will likely be less expensive as well due to a limited top speed. Since engine strain will be less, many van owners will find their vehicles lasting longer between developing faults that need to be remedied. However, with the recent discussions and speculation in regards to the possibility of the motorway speed limit being raised to 80mph, this nascent measure to limit the top speed on the nation’s commercial vehicles may not be feasible after all.

Opponents to the idea of raising the speed limit say that traveling at high rates of speed are not only more dangerous, but will result in reduced fuel efficiency due to increased wind resistance.

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