Things to be aware of when starting up a self-drive hire business
The thought of starting a self-drive hire venture might be a daunting one, especially when you look at the multinational companies dominating the market. However, there are still plenty of opportunities for smaller operators, especially in niche markets such as campervan and motorhome hire.
Not sure whether a campervan or motorhome is better for your business? Read our guide here.
Before you place an advert on the internet offering to rent out your pride and joy, it’s critical that you are fully aware of how to keep your new business venture protected. It’s not as simple as buying a decent steering lock and crossing your fingers. Getting the right information on insurance is vital.
Self-drive hire insurance can be complex. Not every broker understands the market enough to offer cover, but with more than 20 years’ experience as self-drive hire insurance brokers, we most certainly can. We are specialists in the field, offering in-house risk management services, claims support and an expert team able to handle your enquiries and negotiate with insurers. We’re also based right here in the UK.
Chances are you won’t be starting out with a fleet of new vehicles. It’s more likely that you’ll only have one or two. Your income is likely to be dependent on those vehicles. If they’re forced off the road for maintenance or repair, your ability to make money dries up. You could easily find your fledgling business is already facing a crisis! Making sure you have the right self-drive hire insurance in place should, therefore, be at the top of your to-do list.
It’s not just your vehicles that you need to consider. Any business that’s likely to come into contact with the public should ensure they hold quality public liability insurance (PL). For instance, it’s likely that you’ll have a location where your customers can sign the necessary documentation as well as pick up and drop off your vehicles. PL insurance is designed to protect you if a customer has an accident on your premises.
There are other considerations, of course, so why not call us today on 01603 649744 to discuss your needs and take the first steps in your new business venture?
You might also be interested in: Hiring out your motorhome: keep your keys safe