Car Fleet Insurance: Some Valuable Advice
- July 30, 2019
Considering a car fleet insurance policy? In this article we will give you some advice on what to look for and if a car fleet insurance policy is ideal for you. For starters, do you have enough vehicles to warrant a fleet insurance policy? If you have less than 3 vehicles, a car fleet insurer typically won’t consider you. The general rule of thumb is more vehicles than drivers. This is because the way car fleet insurance differentiates from regular insurance is in the idea that all the cars won’t be drivable at once; resulting in a lower road mileage, resulting in a lower chance of accidents which means the insurance firm takes on less risk. This holds true for family fleet insurance, but if you are a company looking to insure your vehicles, you might get a discount due to the sheer quantity of vehicles.
Now, what are the benefits of a car fleet insurance policy? For starters, bad customer service is much rarer in the car fleet insurance business than typical insurance policies. This is because in most cases you will get a dedicated manager. This means whenever you call the firm you will get through to just one person. Another key benefit is the saving; you tend to save a decent amount (~20%) if you go through a car fleet insurer. As explained earlier, the chance of an accident occurring is lower, so the risk is lower, which equals cheaper rates. And with insurance prices rising all the time, this might be the perfect time to change to fleet insurance.
A minor benefit, but still hugely helpful if you have trouble organising – the consolidation it offers. If you own a business that has 10+ vehicles, you probably know how difficult it is to ensure each vehicle stays insured. Every vehicle had a renewal date and, if you were savvy and used different insurers, you had to remember what firm insured what. This allows you to renew your insurance all at once, and if you ever have an accident, there isn’t the hassle of wondering who insured the affected vehicle.
I hope this article has assisted you at choosing if you want to go down the car fleet insurance route. Just remember the golden rule of “if you have more cars than drivers then go fleet insurance” and you’ll be set. And it isn’t just cost – you get a lot of perks if you use fleet insurance (depending on the firm obviously).