OVL Lease Blog

OVL working with Premia Solutions to offer GAP insurance. 

OVL working with Premia Solutions to offer GAP insurance.  GAP insurance….do you know what it is? Do you know if you need it? Never fear, we’ll explain all. When you lease a new car... Read More

The EMTEC Polish Rally - news from an OVL partner company

The EMTEC Polish Rally - news from an OVL partner company EMTEC has become an accredited supplier for the soon to be compulsory Polish E-TOLL system. In order to achieve accreditation EMTEC participated in... Read More

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company The Devon Wildlife Trust safeguards Devon’s unique natural environment. Devon is the third largest county in England and the Trust ... Read More

New electric cars for 2022

New electric cars for 2022 2022 looks set to be a year of exciting electric vehicle launches from many of the major manufacturers. Some of the models we are most ex... Read More

Merry Christmas and Happy New Year from OVL Group

Merry Christmas and Happy New Year from OVL Group It has certainly been another challenging year and most importantly we hope that you, your families and colleagues all remain well. We ar... Read More

Are all electric cars automatic?

Are all electric cars automatic? We could go around the houses to answer this question, but let's keep it simple....yes! Most electric cars are automatic, and likely will... Read More

Meet the new Electric kid in town

Meet the new Electric kid in town Perhaps because of the profile of their illustrious leader, Tesla tend to be the brand on the tip of the tongue when it comes to electric cars... Read More

How an all-electric fleet can play a big part in getting to net-zero.

How an all-electric fleet can play a big part in getting to net-zero.   Speaking at the COP26 climate summit this month, Chancellor Rishi Sunak claimed the UK was leading the world in becoming the "... Read More

Register your interest in leasing the Tesla Model Y here

Register your interest in leasing the Tesla Model Y here You can now order the much anticipated Tesla Model Y in the UK. First Deliveries are expected early 2022 (Model Y Long Range, Performance... Read More

There's never been a better time to lease your vehicle...let us explain.

There An unusual set of circumstances are contributing to there having never been a better time to lease your vehicle. Despite messages of prices on the ... Read More

OVL working with Premia Solutions to offer GAP insurance. 

17/01/2022

OVL working with Premia Solutions to offer GAP insurance. 

GAP insurance….do you know what it is? Do you know if you need it? Never fear, we’ll explain all.

When you lease a new car, it begins to depreciate in value the second it is loaded onto the trailer for delivery to you. 

Depreciation of brand-new cars, most lose 20% of their value before they reach a year old, is a fact of life and one of the reasons why leasing is such a good option (you can read more about that here) and GAP insurance exists to protect your investment.

Standard car insurance that we all have, covers the depreciated value of a car; so if you have to make a claim within say 9 months of receiving your new lease car, your insurance will cover the market value of the car on that day. 

Due to depreciation this amount could be thousands less than the brand-new value of your vehicle. 

GAP insurance covers the difference between what a vehicle is currently worth (which your standard insurance will pay) and the amount you owe on it. Depreciation on a car doesn’t go in a straight line, for example it will lose more in year 1 than year 2, however your standard insurance won’t take these fluctuations into account, this is where GAP insurance comes in, covering the difference.

Prices vary but generally speaking GAP insurance offers a very affordable peace of mind. 

We work in partnership with Premia Solutions to ensure we can offer our customers the best service when it comes to organising GAP insurance. The team at Premia Solutions will contact each of our customers to explain the protection that GAP insurance provides and provide quick quotes and policy set up for anyone wishing to go ahead. 

If you have any questions please contact one of our team who can point you in the right direction.  

 

 

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company

13/01/2022

Devon Wildlife Trust makes fleet emission data actionable! News from OVL partner company

The Devon Wildlife Trust safeguards Devon’s unique natural environment. Devon is the third largest county in England and the Trust has 60 nature reserves, requiring a lot of vehicle movements. The Trust is very concerned about the effects of carbon emissions on climate change. In the context of the Devon Climate Emergency, and with Prof Iain Stewart as president, the Trust aims to get to zero emissions by 2030. This month the Trust announced a target to plant a quarter of a million trees across Devon by 2025 and is campaigning to prevent peat land disappearing because they are carbon-storing habitats and crucial to tackling climate change.

Aiming for zero emissions the Trust is also focused on reducing its carbon footprint and to evaluate performance on a continual basis. The first steps were to reduce travel between offices, more video conferencing and the introduction of flex desks. Reducing maintenance vehicle movement between nature reserves is harder to do. Recently the Trust started actively monitoring real time fleet emissions of all its vehicles running around Devon.

Fleet emission monitoring is achieved through the EMTEC telematics (connected vehicle) solution. Together with the National Physics Laboratory EMTEC has developed software to track accurate vehicle emissions in real time and the information is made available through an online dashboard.

From the dashboard the Trust can see how cars are performing and compare real time CO2 emission metrics against DVLA emissionmetrics and government emission targets. This helps with overall accounting and improving on targets. Stuart Hodgkiss, Facilities Team Leader of the Devon Wildlife Trust says

We found out that the carbon emission output from different car models in our fleet varies greatly, depending on engine type, age, conditions and vehicle use. DVLA and government metrics do not cut it because they are based on averages and numbers from manufacturers. We have looked at different telematics solutions and EMTEC is the only provider with realistic data that has been verified by the National Physics Laboratory.

The Trust finds this information very important:

As a charity we not only want to be completely transparent in terms of our goals and performance, we also want to use this data in an actionable way by adapting vehicle use and phasing out and replacing the worst offenders first. In fact, we recommend everyone to start monitoring their emissions. Not only because it is good for the environment, but also because less emissions means less fuel and less taxes. A sustainable future is cheaper and essentially this type of monitoring is free because it pays for itself!
We think this is not only useful to non-profits, it is also extremely useful for businesses who want to improve on carbon emissions and reduce costs.
We will ask our contacts and suppliers to do the same because the truth is that we do not operate in isolation. Going net zero is a global initiative

EMTEC is critical to providing telematics and accurate emission metrics to create weekly reports and plot vehicle journeys.

Before we were using averages derived from standard GovUK and DVLA metrics in a spreadsheet. However, now that we are taking real time emissions readings, we can see that the averages underestimate true emissions, often by 20% or more.


EMTEC's dashboard and reporting is outstanding, and we were very impressed by the non-invasive fitting of the devices. Our fleet went from no monitoring to full monitoring in days!

EMTEC has created special hardware and software for fleet monitoring that is certified by the National Physics Laboratory. If you simply want to know more, do better and/or reduce costs, contact Co-founder and COO Keith Mullock at: keith.mullock@emteccorp.com