CANPAYASYOU GO RENTAL INSURANCE TRANSFORM YOUR BUSINESS?

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1 CANPAYASYOU GO RENTAL INSURANCE TRANSFORM YOUR BUSINESS? A complete guide to everything you need to know about pay as you go insurance for the rental industry

2 Can Pay-As-You-Go Rental Insurance Transform Your Business A complete guide to everything you need to know about Pay-As-You-Go insurance for the rental industry

3 Copyright 2013 insurecarhire.co.uk All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the author(s). Edited by Kevin McNulty Cover design and page layout by NABO Member of NABO To join visit: 2

4 Can Pay-As-You-Go Rental Insurance Transform Your Business Introduction At insurecarhire.co.uk, we offer much more than self drive hire insurance, we offer you the opportunity to obtain a complete rental platform for your hire company to operate from. We have created an online platform whereby you can apply for a Pay-As-You-Go facility for your rental business. Rental insurance has never been a simple process, and it s made even more difficult by only a small number of insurers willing to take the time to deal with rental companies. This has given rental businesses limited options when it comes to dealing with their insurance. You may feel that the company you have relied on for many years has always given you the easy option, to sign up for another year with the same policy Stop! This is what originally inspired us to set up the Pay-As-You-Go package from insurecarhire.co.uk. Here at Sky insurance, we wanted to make the simplicity of our car hire insurance product available and accessible to everyone. This has become a true passion for us and we are constantly on the lookout for new inspirations to improve the service to share with our customers. Which is why we have written this guide In the pages that follow, we ll look at everything you need to know about our rental insurance platform. This includes which types of businesses it will cover and what the platform options are in terms of operation. Sky insurance s goal was to make the process of selecting self-drive and car hire insurance both quick and simple, by placing adequate 3

5 Scott Forrester - insurecarhire.co.uk controls and processes into one dedicated online facility. Using our extensive knowledge of the industry sector, we developed our product insurecarhire.co.uk. The product offers a full rental platform and package for rental companies to operate from. So, whatever your budget and whatever cover you re looking for, you can find it all under one system. If you keep this guide to hand as you consider your options and refer back to it whenever necessary, you re sure to end up with the right rental insurance product which will transform your business. Scott Scott Forrester insurecarhire.co.uk 4

6 Can Pay-As-You-Go Rental Insurance Transform Your Business Why choose insurecarhire.co.uk? To anyone who is intending to purchase a rental insurance product, we would strongly recommend searching for insurecarhire.co.uk. This unique all in one package, has a number of benefits over its alternative rental insurance counterparts. First and foremost, the pure simplicity of insurecarhire.co.uk, means that it will require minimal upkeep. Its ease of use and maintenance allows you to have all your insurance needs in one secure cloud based location. Another advantage of the insurecarhire.co.uk system is the cost. Because the platform works as a Pay-As-You-Go package, you will only be charged for the duration of time that the vehicle is used. This is obviously a huge benefit when working in the rental sector, which can be a tough market to profit from. Are my details secure on an Internet based system? All your details are held on a fully secure website which has the latest security password encryption software. Should your account sit idle on the system for 30 days, then a full state of suspension will freeze the account as an extended security measure. This means that you can rest assured that all your details are fully secured, both when you are using the system and when you re not. On top of this we offer free system upgrades and programme enhancements, to ensure that all your details and the platform run as smoothly and securely as possible. 5

7 Scott Forrester - insurecarhire.co.uk What if I need support? To make sure that all of our clients get the most from our system, we offer video tutorials to give you and all your staff the confidence to run your business. The complexity of the platform is kept to a minimum to maintain simplicity throughout the entire process. However, should you require support with the package s interface, or any other insurance related issues, then our highly trained staff offer instant messaging and telephone support direct to you. Open between 9am to 6pm Monday to Friday and also 9am to 1pm on Saturdays. There will always be someone on hand to help you resolve those little queries. Who can benefit from insurecarhire.co.uk? The answer to this is simple anyone interested in receiving fantastic savings on their rental insurance. This ranges from motorhomes, campers, classic cars, horsebox hire, car and van rental, self-drive hire, taxi hire, and many, many more with specialist cover available for Credit Hire & Accident Management operators. Pay-As-You-Go insurance is a very cost effective and bespoke way to help you save money and enhance the performance of your business. With no limits to the number of users who can access the platform and no limits to the number of site locations. Regardless of the size of your company the Pay-As-You-Go system can still have a positive effect. The online based nature of the system means that you have no lengthy installation processes, no software to set up or configure. Just sign in to the service and you ll be ready to go immediately. Can a new start-up business apply? Unlike other insurers who demand that you have a certain number of cars in your fleet, or a minimum number of years experience, insurecarhire.co.uk will always look at giving your business the helping hand it deserves. 6

8 Can Pay-As-You-Go Rental Insurance Transform Your Business Simply fill out our online application form and you will soon receive your quote. Your inputted details allow us to look into the seriousness of your business. Looking at your business plan, we would be able to indicate how far along the setup process you are, then we can also review how the business will work in terms of legalities. We will offer our full support and give you assistance in getting your company off the ground, ensuring that you have all the other correct procedures in place. The rental insurance market is broken down into four sections, these are outlined below: Self-drive hire / Rental Operator Accident Management Credit hire Taxi hire 7

9 Scott Forrester - insurecarhire.co.uk The Pay-As-You-Go System Explained The daily rate chart The Pay-As-You-Go system issues you with the daily rate chart. These are the prices for you to use for your self-drive hire business. Within the daily rate charge you will have a list of vehicles from A-Z across the top of the display screen and the ages of clients you are able to offer your hire services to. This can then be cross-referenced with the required cost. For example: An A banded vehicle - A being relatively small in value and the class of vehicle. This would have a set age limit of between, say The daily rate would then be calculated by the system at a price of X pounds per day. The Pay-As-You-Go system makes it this simple to use. Not only will insurehire.co.uk cover your hirers, but also the package gives you a one-stop shop system. The full capability of the system is much broader than simply offering prices for you to choose from. On top of this, you can rely on the platform to do a whole lot more for example, documentation - you would be provided with rental agreements and rental documents. Further to this, you are provided with insurance documents, a vehicle calendar and a vehicle diary to set reminders. This way you will never miss a vehicle s tax or MOT. It gives you a complete system, which allows you to outsource many of your business issues. 8

10 Can Pay-As-You-Go Rental Insurance Transform Your Business Will I be in a contract? Our philosophy is that all rental companies should only pay for their insurance when they are using their vehicles. This means you are not placed under contract for set periods. You can flexibly adjust the timescales as and when you want. Anything from a one to a twenty eight day period, which you can then reproduce as many times as you require it. This is especially good for any seasonal business such as campers, motorhomes and classic cars which tend to be more practical in the summer months. Then when the winter months arrive, you can safely tuck away your pride and joy, safe and sound until the following year. Credit Hire & Accident Management Insurance For Credit Hire, the insurecarhire.co.uk system is ideal, giving the customer a hire vehicle whilst they begin to make a non-fault claim if the collision wasn t their fault. The duration of the repairs can vary widely, dependent on the nature of the incident. This means that the Pay-As-You- Go service, with its tractability gives you much more control. Accident management companies also benefit in this same way, although, they will also look after the personal injury aspect of the claim. This means their need will slightly differ to the Credit Hire Company, as more often than not they will require longer periods of cover. Accident management companies are involved with resolving aspects such as: Vehicle recovery Assessment and repair of vehicles Dealing with the insurance companies Claiming for uninsured losses Organising a replacement vehicle Using insurecarhire.co.uk takes the stress out of the Accident management company to ease the requirements of insuring replacement vehicles. Calculating online daily rates and with the advantage of refunds for unused hire days, your business will continue to thrive. 9

11 Scott Forrester - insurecarhire.co.uk Self-drive Hire Insurance Pay-As-You-Go insurance is also perfect for the self-drive business. With the facility to insure your vehicles anything from one day to twenty eight days at a time and then creating longer periods of cover, by simply taking multiples of the twenty eight day cover. This allows you complete flexibility when it comes to arranging the cover you need, making it totally specific to each client that you are working with. So, regardless of whether you need cover for five days or for five months the Pay-As-You-Go system will allow you to manufacture your own bespoke service. The more you use the Pay-As- You-Go system, the more rewarding it becomes. Higher users are offered lower rates and other discounts are also given for the more prolific client. Taxi Hire Insurance As a taxi driver the most precious thing to your livelihood is your vehicle. Should you find yourself without your taxi, then you re potentially losing out on big fares every day. Taxi hire insurance is specifically designed for taxi drivers who have been involved in an accident. As a result, the driver will need to be supplied with an alternative vehicle to carry on working. The replacement vehicle will then need temporary taxi hire insurance. The taxi company arranges a substitute vehicle hire on credit, on the basis that they can claim the cost back from the third party who is at fault for the accident. With this service in use, you ll be able to keep making money while your own vehicle is being repaired. Never again will you be sat out in the cold missing out on your earnings. Rental documents and cover notes Managing all your documentation and cover notes can be a costly and time consuming process. Besides, can you be sure that your existing documents are working in the best way they can be? When you work with the Pay-As-You-Go service, you are also given a full range of documentation which will work perfectly. These have been created specifically for the rental market by our team of specialists. 10

12 Can Pay-As-You-Go Rental Insurance Transform Your Business What documentation is provided? When using insurecarhire.co.uk, we supply you with all the documentation you will need to run your business effectively and efficiently. Our library of documents will be fully available to you and your staff to use. We will also offer full training to make sure that your entire team is fully conversant with the details of the cover. Because we understand that any claims you need to make are not only inconvenient, but also expensive to your business, we offer you a comprehensive service that will get your fleet back on the road in no time. With a dedicated specialist working with you, to help you deal with each step of the process, and providing support with the appropriate documentation your vehicle will be repaired and ready to rent out again in no time. With the implementation of the Pay-As-You-Go package, you will receive: Booking Form Rental Agreement Vehicle Inspection Reports 11

13 Scott Forrester - insurecarhire.co.uk Collision Damage Waiver & Motor Trade Insurance To make sure that your rental company is covered further, we also offer a CDW (Collision Damage Waiver) to give you the extra protection for your company. Also available as a standalone product, the CDW is an essential part of your policy and another excellent benefit available for our car hire clients. Uninsured Loss Recovery Another additional product provided by insurecarhire.co.uk, which may be of interest to your hirers, is uninsured loss recovery. This gives extra protection to the hirer should they become involved in a non-fault accident. The uninsured loss recovery product provides comprehensive support and advice on what to do in the event of an incident and how to proceed in making a claim to recover any uninsured losses incurred. This will include help with legal assistance, personal injury, and other damages sustained by the accident. Taking out extra protection such as uninsured loss recovery, allows your customer to hire from you with additional peace of mind. Your customers can drive away in confidence knowing they will be assisted with any problems they encounter when the blame doesn t fall with them. The Dangers of Customer s Own Insurance Even though many rental businesses have been operating for many years, this doesn t mean to say that the processes that they have in place 12

14 Can Pay-As-You-Go Rental Insurance Transform Your Business are the most efficient for their business. Customer s own insurance is becoming more and more common and is a high risk way of insuring your clients to drive your vehicles. How do you know the policy is comprehensive? Is the policy live? How do you know the hirer will not take your vehicle - then go away and cancel their insurance policy? All these factors need to be considered, otherwise you could be putting your vehicles and business at risk. As a highly experienced rental insurance company we are able to offer extensive advice on best practices for documentation and rental agreements. Should you already have these documents in place and wish to continue with your own processes, then we would be more than happy to advise you on the most practical ways of improving your existing service. 13

15 Scott Forrester - insurecarhire.co.uk Testimonials Really easy to use interface. Handy tutorials. Only takes a few minutes to arrange the cover. CDW option a bonus. I m only four days into using insurecarhire.co.uk and I m impressed. P.Jones, Fleet Manager Cost effective daily car solution for self-drive operators. Great staff and professional, accurate advice. Overall it s a five star service and web site. S.Payne, Managing Director, The Worx Group Excellent service and most helpful staff on the helpline. Thank you. Excellent service, extremely helpful. M.Prowse P.Leggett One of the best systems available in the market to insure pay as you go. A.Ashfaq 14

16 Can Pay-As-You-Go Rental Insurance Transform Your Business Conclusion We hope that you have found this guide both helpful and insightful in providing a reliable source of information on rental car insurance. There are many different insurance options available when it comes to rental companies. However, it can come as no surprise that many features change between the different insurance companies. There are no rules or regulations to picking the correct insurance for your business, but it seems to make perfect sense to select the one which best suits your needs. As a Pay As-You-Go service, we believe that this is the most lucrative way for all rental companies to successfully operate. As we have discussed and proved, our product has a far superior flexibility than can be offered by any other service that is currently on the market. I hope this guide has answered all of your questions and queries about Pay-As-You-Go rental Insurance. In closing, let me reiterate the importance of selecting the right insurance that is right for you, and the one which is going to bring you the most return. This is the most important part of the process when deciding where to invest, so make sure you make the right choice. Now let us tell you about insurecarhire.co.uk... 15

17 Scott Forrester - insurecarhire.co.uk About Us insurecarhire.co.uk is a unique and exclusive Pay-As-You-Go vehicle rental insurance system that utilises a secure web based software system. Accessible from anywhere with an internet connection, you are able to manage your business from any location. As part of Sky insurance services group LTD, we have almost 30 years of giving high quality insurance products to customers across the UK. You can rely on the insurecarhire.co.uk service to keep your business running smoothly and efficiently. We offer quotes and cover for Taxi Hire Private Hire Self-Drive Hire Accident Management Credit Hire Classic Car Hire Motorhome Hire Campervan Hire Horsebox Hire Motor Trade Insurance 16

18 Can Pay as you Go Rental InsuRanCe transform your BusIness? A Complete Guide to Everything You Need to Know About Pay as You go Insurance For The Rental Industry not all vehicles or fleet will be used all of the time, so keeping your full business insured all year round can end up being unnecessary and, more importantly, costly to your business. Running a rental, self-drive or hire service can be extremely complicated when it comes to insuring your vehicles. One of the most cost effective ways to transform your business is by using a Pay-as-You-Go insurance software. This unique system from will give you a flexible service on anything, from insuring your standard fleet, to the more specialist areas such as Taxi, Horse Box, Classic Cars, motorhomes and campers. In this unique guide insurecarhire.co.uk, gives you an insight into the alternative world of Pay-as-you-go rental insurance. Discover the benefits of using this style of service over what is perceived as the more standard insurance cover. the following hot topics, and much more are revealed inside: Why choose waterless products? Credit Hire & Accident Management Insurance Self-drive Hire Insurance Taxi Hire Insurance Rental documents and cover notes Collision Damage Waiver & Uninsured Loss Recovery Motor Trade Insurance The dangers of Customer's Own Insurance insurecarhire has years of experience in the Rental Insurance industry and we understand the full benefits of this type of service. so, whether you re an established business or taking on a new start-up, we understand your needs. With everything in this guide directly drawn from our vast knowledge and experience, you ll be able to make an informed decision on what is right for your business.