Bolster your business and ensure future profitability…
Operating a self-drive hire company comes with all sorts of risks. Balancing these risks and your profits can be tricky—you must properly appraise drivers and manage your vehicles all whilst maintaining profitability.
Things get even trickier when operators have to insure a whole fleet of vehicles rather than just a few. More cars for hire means more risk exposure, and reducing this exposure is vital for the success of any self-drive hire company. A poor claims history can increase your premiums and operating costs. Self-drive hire cover is typically separated into two payment structures: pay-as-you-go or an annual policy with monthly premiums.
The appropriate cover will depend on an operator’s business—if a business operates year-round with very little variance, an annual policy will be more cost-effective. If a business operates primarily in only one season, a pay-as-you-go policy will provide adequate cover and charge a lower premium during months with slower business operations. As the operator of a self-drive hire business, you face tremendous risk.
But purchasing comprehensive self-drive hire cover and implementing proactive risk management tactics can help bolster your business and ensure future profitability.