Launched in February, the product has initially been made available to Arval’s small and medium sized customers and joins the firm’s existing Arval Total Care solution, which is an optional package allowing customers to choose an insured lease vehicle with pricing fixed for the duration of the lease.

Research commissioned by Arval amongst 300 fleet operators shows that companies in the UK generally opt either use an insurance broker or go direct through an insurance company. The research also found that as many as 22% of companies with less than 100 employees are considering taking insurance through their leasing company.

Meanwhile the survey among companies of all sizes also shows that the majority of companies separate their fleet insurance policy needs from overall business insurance needs. 72% of companies with less than 100 employees and over 50% of larger companies have separate fleet insurance policies making comparisons and switching much easier.

Arval has now said the product will be made available to larger fleets later this year.

Robert Pieczka, marketing & insurance director at Arval, commented: “Traditionally companies have sourced their fleet insurance from either a broker or an insurer directly. Arval is now providing a third way. A new alternative with easy switching process, competitive pricing, a unique offer and an option for Arval Total Care with fixed pricing for the duration of the lease.”

He added: “Products like this have been popular across other European countries for a number of years where we see high levels of take-up. With the benefits that these products provide, we anticipate a growing number of businesses in the UK to consider this alternative option.”