Negotiating Insurance and Finance

Negotiating Insurance and Finance

Negotiating Insurance and Finance

Negotiating Insurance and Finance – Well every senior in car rental either have two situations in relation to these major fields. Insurance and Finance are probably the most feared task in car rental.

Why am I saying they are similar?

Insurance and finance are requirements that every car hire company have to deal with at least once in a year.

Both Insurance and Finance companies work with a monopoly of brokers who control the markets each with a preferred supplier.

If the broker fails to present your case correctly and both the finance and insurance company say no, another broker is unable to get a quote from the supplier.

Why are they so difficult?

Well, they are not if you have friendly brokers however if you do not have good brokers then this is a major issue.

So what can you do? Let’s start with each and why they are similar. Here are the key factors.

  1. Certain Finance companies will deal direct, however, insurance requires a broker to present your case.

2. Brokers have preferred suppliers although not allowed, this is the case.

3. Both are extremely complicated and require you to correctly interpret what’s on offer.

How can BROKERS actually be detrimental?

  1. Some brokers only like to use a preferred supplier but are required to shop around to ensure you are found the best probable deal.
  2. However this is not their end goal, their aim is to use other suppliers by mispresenting a case and getting you a no quote.
  3. At this stage, they are now able to offer lucrative terms to you via their preferred supplier.
  4. The quote they give you is expensive, so what do you do next?
  5. You contact other brokers and go through the whole scenario again.
  6. To be told they cannot help because you have already been no quoted by another broker.
  7. So now you understand the role of a broker and why they can be so detrimental firstly, and secondly why they can be so important.

How can I stop this and make sure I secure the best deal?

Well here are a few pointers.

  1. If its finance companies you are dealing with, try dealing directly without a broker, make sure you have the right documents and the correct information and the rest will all come to play. One of the main reasons for finance declines is cash flow, management accounts and constant losses in the company.
    1. Solutions for the above are easy. if you do not pay corporation tax by declaring losses you will suffer from higher finance premiums, and eventually pay a lot more for the vehicle you just procured.
    2. Cash flow is difficult due to the incorrect way in which finance has previously been structured. Try refinancing your new and existing assets.
  2. If you have to use a broker don’t use one use several, how you may ask? Will they apply to the same companies? Be smart ask them which companies are their preferred supplier. Once you have this information give them written permission to only approach that company and no other. Now go to another broker and ask them who their preferred partner is and do the same.


Using this method for Negotiating Insurance and Finance should save you a small fortune in your expense department, let us know if you have any questions and we will get back to you shortly.

We are not suggesting every broker does this. There are some genuine brokers out there, however, there are some that act in this way. It is very difficult to find the ones that do and don’t.

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