HOW GOOD IS YOUR INSURANCE?
An insurance company could handle one major claim effectively but still create constant disruption and cost to a business through slow administration. Another might have excellent day-to-day service but let you down when that claim hits. A genuinely good broker or insurer needs to be able to do both.
The cost isn’t always the cost
The difficult part is that service failures are difficult to price in advance. A quotation clearly shows the premium, excess and level of cover. It does not show the likely number of hours that will be spent chasing documents.
It does not show the number of days it will take to get that shiny new car you’re adding to the fleet into service, or how many prospective drivers you will lose throughout the year while waiting on approvals or referrals.
These costs sit elsewhere in the business, and we never consider insurance as the root cause. They will appear in your KPIs as lower vehicle utilisation rates, lost recruitment opportunities, additional management time and frustration. Because these issues are often overlooked, they aren’t always raised at renewal time.
This is perhaps why an insurance arrangement can appear inexpensive on paper whilst having an incalculable cost in reality.
Value is different for every operator
There is no single insurance product that will be the right product for every company in the UK. An owner- driver with one vehicle may value a straightforward policy, clear claims support and the ability to speak to an empathetic human being at the other end of the phone.
A fleet operator working across multiple licensing areas may need a broker who understands that one certificate format will not necessarily fly with every local authority it works with and may need variations or amendments to suit.
A specialist chauffeur or contract operator may require specific indemnities or additional levels of cover.
The cheapest suitable policy may still be the correct choice. The important caveat here is suitable.
Price will always matter, and no sensible operator should pay more without a reason, but value is more important than price any day of the week.
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OCTOBER 2026 PHTM
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