16 Nov 18

Safe Lease: Baloise and ALD team up for private lease

Baoise Insurance announced that it teams up with ALD Automotive to be the first in Belgium to offer private lease through insurance brokers. The new leasing formula is called “Safe Lease”.

Private Lease is steadily becoming more popular in Belgium, with a total of 10.000 contracts in 2017, according to figures provided by Renta, the Belgian association of leasing companies. Given the growing interest in using instead of owning a car, it is believed that the private lease market will continue to expand. In the Netherlands already over 100,000 private lease contracts have been concluded, indicating the potential of the formula.

Lease through broker

Up until now, Belgian consumers could opt for private lease solutions at certain car dealers or directly through a number of leasing companies, and even – for specific periods in time- through retail chains such as Carrefour, Media Markt and Gamma. Baloise is the first insurance company to enter the private lease market, and will market the leasing contracts through their network of insurance brokers.

Baloise says that it wants to relieve its customers of the burden of car damage, but also help them to drive comfortably and in total peace of mind knowing that all car costs (except for fuel and possible traffic fines) are covered in one monthly sum, without any surprises.

The Safe Lease-contracts allow the private leasing of cars for a period of two to four years, including all services and a comprehensive insurance package. The offer will contain a large selection of cars, small and larger ones. The leasing contract allows the addition of extra services such as a supplementary driver insurance cover, winter tyres or a replacement car for longer periods.

Alternative for cash-for-car

Baloise says that it sees the Safe Lease offer as a response to the “cash for car”-scheme the Belgian government introduced recently. “Cash for Car” allows Belgian employees to trade in their company car for an amount of money that can be used freely. Private lease that way allows drivers to opt for a smaller and less expensive car for an amount that is lower than the provided sum.

In the beginning, Baloise’s Safe Lease will be on offer through a selection of twenty of its insurance brokers.

Source and photo: Baloise Insurance

Authored by: Stijn Blanckaert