Fleet News

Figures show varying cost of fleet insurance claims

TWO-THIRDS of company cars are involved in an insurance incident annually, and the figure rises to over 77% if glass damage is taken into account. Theft of vehicle remains the most expensive cost to bear, at £4,458 per claim, leading VELO in its latest fleet insurance report to issue a reminder to fleets to maintain measures to minimise the risk of theft, including driver awareness campaigns and the fitting of anti-theft devices.

Parked vehicles damaged by unknown third parties represent the most common type of incident, accounting for 13.3% of claims with an average repair bill of £364. This cost rises to £563 per claim when the third party is known. The second most frequent accident involves drivers hitting a fixed object, responsible for 8.2% of claims at an average cost of £488.

Junctions, roundabouts, crossroads and traffic lights continue to represent the highest risk areas on the road, with 3.3% of claims handled by VELO due to its customers hitting a third party at one of these features, and a further 3.3% being hit in the rear at the same sites.

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