It’s been a tough year for both private car insurance and commercial fleets. The transition to pure battery vehicles still requires huge infrastructure investment, not least of which is National Grid charging capacity. Perhaps the latest visit by Rachel Reeves to China might bring some investment news on that essential power generating infrastructure?
Here’s the word on demand for commercial Motor cover, which remains strong as Brits continue to WFH and have everything delivered.
Direct Commercial Limited’s (DCL) third broker barometer reveals a significant boost in broker optimism for growth within the commercial motor fleet market. An impressive 96% of brokers now anticipate growth in the coming year, up from 90% in September 2023.
However, the findings from the barometer also show that 56% of brokers have experienced difficulties in securing coverage for smaller fleets in the last quarter, a slight improvement from 60% earlier this year.
DCL remains firmly committed to the commercial motor market, offering tailored solutions to meet brokers’ evolving needs. A prime example is the Haul In One product, a core offering from Direct Commercial backed by A-rated capacity. The Haul In One portal provides an efficient insurance solution for smaller commercial fleets, offering cover for up to ten vehicles on a single policy.
Rated capacity also remains a priority for brokers, with half (50%) identifying it as business critical and an additional 19% describing it as important.
Joe Hantson, Deputy CEO of Direct Commercial, said:
“These results reaffirm the robust confidence brokers have in the growth of the commercial motor fleet market. Direct Commercial is proud to be at the forefront of this sector, providing innovative solutions like Haul In One to address brokers’ needs. By combining dependable, rated capacity with exceptional support, we are well-positioned to help our broker partners thrive in a dynamic and competitive market.”
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