If you own, lease or rent a commercial vehicle or a fleet of vehicles, having up-to-date insurance is essential to drive on UK roads.
Financing is a simple way for business owners to get one or more commercial vehicles without worrying about costly maintenance services or uncertain future market values. Contract hire is an ideal solution, but there are a few things to consider.
Read: What is contract hire?
Does contract hire include insurance?
Insurance is not included in a contract hire agreement, so you will need to invest in vehicle insurance before you can drive.
When does your vehicle need to be insured?
You will need to provide your insurance certificate before delivery of your vehicles can take place, so it is recommended to start the process before your contract hire agreement is finalised.
Arranging insurance for your contract hire vehicles
When arranging insurance for a contract hire vehicle, you’ll need to provide details about the registered owner and your purpose of use. It is essential to list every driver who will have access to the vehicle. As with any policy, all information must be up-to-date and accurate. You can add multiple drivers to the same contract hire policy; however, the leaseholder will be named the lead policyholder and responsible for the vehicle’s care and insurance.
What is business fleet insurance?
Maintaining a fleet of vehicles can involve increased risk and costs, but fleet insurance enables you to insure a large number of vehicles instead of each one separately. Fleet insurance covers everything from buses and coaches to vans and trucks.
Speak to us about your contract hire options
Asset Alliance Group is the perfect choice to meet your commercial vehicle contract hire needs. We provide exceptional value, with maintenance costs all taken care of for a fixed monthly rate.