FLEET drivers opting out of traditional company car schemes and into employee-owned vehicles are saving up to 12% on their insurance costs, new research has shown.
Provecta Car Plan, which specialises in providing tax-efficient alternatives to company cars, carried out a survey into insurance costs for 3,000 employee-owned vehicles.
The company said its results show the savings are down to reduced claims for accidents leading to reduced premiums, lower excesses and less management time spent processing claims.
Provecta Car Plan managing director Nick Sutton said: 'The reduction in accident damage is mainly down to the 'ethic of ownership'.
'There is a fundamental change to drivers' mind-set when the vehicle is their own. They have taken care to select the right car for them rather than having a benchmark car forced upon them and they automatically take more care of it – even if it is not a conscious decision.
'A car in good condition also gives drivers more options at the end of the contract.'