Insurance specialist calls for scrap on interest payments on coaches laid up due to COVID-19

McCarron Coates

Insurance broker McCarron Coates has launched the next phase of its Wish you could Hear postcard campaign, titled Take No Interest, calling on coach-sector finance companies and the government to pause interest payments on coaches laid-up due to COVID-19.

Under the government lockdown roadmap in England, coaches serving the tourism sector face another two months off the road and potentially longer. Meanwhile, news that coach tour operators in England are being excluded from Restart Grant payments has come as yet another blow to the industry.

“80% of coach firms are family run. These interest payments are destroying the futures and wellbeing of thousands of families,” says Director Ian McCarron. “Many coaches cannot operate until at least May and business is unlikely to be available for coach parties until around September, as the season is drawing to a close. Many operators will not have regular coach holiday business until 2022.”

Adds Director Paul Coates: “As soon as the pandemic started, we ensured our clients received refunds on their insurance and we returned our commission, to help them with their survival strategies. We appeal to both (the finance companies) and the government to pause payments immediately and show some humanity.  Our message is now two-fold: ‘Wish You Could Hear’ and ‘Take No Interest.’”

A hashtag #TakeNoInterest has been started and the broker is encouraging operators to push the Wish you could Hear postcards to target finance companies, MPs and ministers.