Flint Insurance

Flint Insurance

September 07, 2010 01:00 ET

Flint Insurance React to Motor Fleet Insurance Rate Increase Claims

KENT, UNITED KINGDOM--(Marketwire - Sept. 7, 2010) - There have been recent signs of a gradual increase in motor fleet insurance rates, causing dismay to many fleet companies who have survived the recession but are now trying to cut down on their outgoings.

There have been a number of changes to the motor fleet landscape since the recession, with the department for Transport vehicle licensing statistics showing a 4.5% decrease in the number of company-owned cars and new registrations down by 21%.

As many companies have had to fold, ongoing businesses have been left reeling by the increase in rates. However, fleet insurance companies claim there is a general feeling of uncertainty in the industry over whether the rates are sustainable or not. If their prediction is correct, fleet companies might not have to suffer these higher rates for too long.

A spokesperson for motor fleet Insurance company, Flint Insurance, commented on the situation: 'We have definitely noticed a rise in the amount of people enquiring about comparing fleet insurance through us. The fleet business has suffered a lot with business losing significant amounts of money. However, with many having to tighten their belts, it is crucial to their progression in the near future for them to reduce their outgoings and making sure they get cheaper fleet insurance is a vital component towards achieving this'.

Fleet insurance companies, meanwhile, are finding there is a severe lack of business out there for them as competition has increased in the insurance world, with new companies popping up everywhere and claims inflation meaning they aren't making much of a profit.

The problem is that rate increases are being outperformed by a rise in claims for third-party and not far behind the effects of the recession is the emergency Budget aftermath, which will see inflated VAT from next January.

However, experts say that as the entire market is so changeable right now, it has to improve at some point and they are predicting that more and more people will seek price comparison for their motor fleet insurance to ensure they are getting the cheapest deal possible, as they have also noticed people doing with car insurance.

About Flint Insurance:

Flint Insurance is an independent insurance broker. With over 30 years' experience in the trade, they can offer a range of cover for businesses including specialist HGV insurance cover throughout the UK. By using a panel of over 35 insurers, they can provide the most appropriate and cost-effective cover for their clients.

For further information, please visit: www.flintinsurance.co.uk or call 0800 021 4501.

Contact Information