Fleet News

Zurich launches 'own car' fleet insurance

A NEW insurance scheme specifically designed to cover drivers using their own cars on business has been launched by Zurich UK.

Its Employee Owned Fleet Insurance scheme is aimed at employers in response to rising concerns over the adequacy of cover as some businesses move away from traditional company car provision to cash-for-car and other employee car ownership schemes.

David Smith, distribution and marketing manager for Zurich's UK commercial business, said: 'Under the new employee ownership schemes, employees are able to take out their own insurance. However, with rising premiums many may be tempted to go for price rather than quality of cover.

'They may also be unaware that not all private policies will cover them for accidents or breakdowns that occur while on company business. In this instance the employer will be held liable, which can be both costly and time consuming.'

Zurich claims its scheme can also reduce administration as currently, it says, employers have to run regular checks on all privately insured employees and keep detailed records of their cover.

Smith added: 'Changes to emissions-based company car taxation have had a significant impact on fleets. More companies are recognising the benefits of moving to employee ownership schemes.

'However, many are reluctant to allow employees to arrange their own cover because of the increased administration this creates and fears that cover will be inadequate. Our new scheme aims to offer the benefits that come with private ownership and the peace of mind that a blanket cover policy provides.'

Zurich said it was also keen to work with brokers to help guide companies through the 'complexities' of moving from company-owned car schemes.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee