Insurance Loans from WestWon

Under the terms of a lease agreement, all assets subject to a lease need to be insured. Often, the finance company will add this insurance onto the lease repayment and charge you directly for this.

WestWon are able to help organise insurance for your organisation via a number of long term relationships we have. If you have any concerns regarding insurance or require any further information on insurance loans, please speak to a member of our team now.

Call us on 01494 611456

Insurance loans example

Insurance Loans
  • Company
  • Loan Value
  • Term
  • Repayment
  • Rationale
  • Large building company
  • £800,000 of mobile tablet devices
  • 36 months
  • Circa £50.00 insurance cost per device
  • Over 1,200 employees have access to a mobile device in the field, they get damaged and broken on a weekly basis

Benefits of Insurance Loans

  • Cash flow

    Allowing you to keep funds in your business for other uses

  • Alternative funding lines

    No need to use up an existing bank facility

  • VAT

    On rental agreements VAT is paid in the rental, not in full and upfront

  • Tax planning

    Using a lease purchase agreement, if your investment in assets in one year is £200,000 or under, subject to some HMRC conditions, this expenditure can be fully offset against Corporation Tax. For many customers, a lease rental is a great solution as all rental repayments are allowable against Corporation Tax

  • Budgeting

    A lease repayment covers the cost of the equipment and interest. This makes internal allocation of costs very easy for those companies wishing to divide the cost by headcount, department or even square footage

  • Budgeting

    It’s easy to budget for a fixed rental payment over a three or five year term

  • Pay for the equipment as you use it

    Would you pay a new employee three years’ salary in advance, probably not. So why pay for their desk, computer or car in advance?

  • Obsolescence

    Under the WEEE directive, you have an obligation to dispose of certain assets in an environmentally friendly way. If you rent the equipment, you can just hand it back at the end of the rental term.

Get in touch

or send us an enquiry online

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The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited, WestWon Leasemaster Limited and WestWon Fleet Limited are all credit brokers not lenders. WestWon companies deals with a range of lenders.
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