The new product enables customers to lease an insured vehicle from Arval and forms part of an optional customer package, called "Arval Total Care". This includes: contract hire with third party insurance, own damage protection, glass damage protection, maintenance management, breakdown assistance and accident management.

By bundling together these products, Arval is offering customers a hassle-free and cost effective approach to vehicle leasing and management. The firm says benefits include competitive pricing, optimised VAT position and fixed price for the length of the vehicle lease, as well as allowing customers to keep vehicle related costs together (supported through a monthly consolidated invoice)

Leasing an insured vehicle is a very popular approach in other European countries and Arval says its extensive customer and market research has shown a clear UK customer need for the product with real benefits. 60% of 250 small businesses stated that they would be interested in a quote from Arval.

Robert Pieczka, business development & marketing director, commented: ‘Customers expect insured leased vehicles in many European countries where it is long established as a service provided by Arval. 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.’