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Arval launches insured contract hire

Date: 26 February 2014   |   Author: Jack Carfrae

Leasing giant Arval is now offering contract hire vehicles with insurance. The new service is part of a wider initiative by the firm known as Arval Total Care, which is an optional package comprising a leased vehicle with third-party insurance, own-damage protection, glass-damage protection, maintenance management, breakdown assistance, and accident management.

The new package is designed to bundle together all the costs related to the vehicle, which will be amalgamated onto one monthly invoice and is said to help with budgeting. 

The company said leasing an insured vehicle is not common practice in the UK but was popular in European markets. It carried out market research on 250 small businesses prior to launching the new service and said 60% asked for a quote for such a product.  

Arval's business development and marketing director, Robert Pieczka, said: "Customers expect insured leased vehicles in many European countries. I am delighted to announce the launch of this innovative new service in the UK fleet market. Extensive customer research shows that there is a real need for a straightforward, fixed-price package, saving customers time and money."