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Fleetsure publishes 'new normal' broker tips

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Specialist motor underwriting agency Fleetsure has published a series of tips for brokers handling commercial motor fleets in the current coronavirus-affected environment.

“Clients need, more than ever, sound advice from their brokers,” the company says.

Fleetsure highlights increased theft as a potential issue, with vehicles laid up for extended periods presenting “prime targets” for opportunistic thieves.

“Simple tracking devices are now available at very reasonable prices and are well worth consider installing,” it says.

It also warns that large numbers of vehicles located together when laid up increases the risk of larger losses from hail, flood, fire and theft.

“Most insurers will now be referring to a ‘laid up’ style offering,” Fleetsure says.

“Brokers need to make sure that they aren’t accepting a reduction in coverage when the goal is to obtain a premium discount reflecting reduction in exposure when vehicles are laid up or simply spending less time on the road.

“Vehicles still need third-party property damage for the occasional use on roads moving around and in yards. However, the premium should reflect this exposure and be minimal.”

Brokers are warned that third party fire and theft may not be the most appropriate cover.

“Comprehensive cover is going to provide additional protection for matters such as impact, malicious damage, hail, flood and other water perils.

“A move to anything less than comprehensive cover is probably a breach of the client’s insurance obligations if there is finance on the vehicles.”

Click here to see Fleetsure’s full list of tips.