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.