Employers are taking steps to limit their exposure to the cost of accidental damage to leased vehicles in their fleet.

Almost 95% of businesses regularly receive company vehicles back at the end of the lease period with unexplained dents and scrapes, and only 5.5% of employers said all damage was explained and accounted for.

More than half (52%) have put in place written policies about recharging for the damage, according to
Masterlease’s Driver Excess Recharges survey of 100 companies. Of these, 82% charged the insurance excess back to staff, but only 22% did this in all cases of damage.

Almost one-third charged for all fault-related accidents and 29% said they would do so after a certain number of accidents. Almost one-fifth (18%) said they would be putting a policy in place to recharge excess damage to vehicles, while 30% were thinking of doing so.

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