How many vehicles do you use for your business? With many industries, the answer to this question could be ‘several’. No matter how many vehicles you use, you’ll need to insure all of them before you can use them. Insuring all of your vehicles on individual policies could be very expensive. It is often cheaper to insure your vehicles under one ‘fleet’ policy.
What is Fleet Insurance?
Fleet Insurance is a kind of motor insurance policy that covers multiple vehicles under one single policy. It can cover any number of vehicles, from a few business use cars to a fleet of vans. Fleet Insurance is intended to improve the premium you have to pay for your insurance, by simplifying it to a single policy.
What Type of Insurance Do I Need?
You might not need to buy a fleet policy, even if you use multiple vehicles for your business. You have to consider how you use your vehicles, and whether a fleet policy is the most suitable for you. If the price would not be better with a fleet policy, it might not be worth changing for you.
What Affects the Prices?
There are a number of things that can affect the price of a fleet insurance product. One of the most important is the intended use of the vehicles. This is because insurers want to know the potential risk that the vehicles they are insuring might face. Premiums can also be affected by the drivers you want to be able to drive your vehicles. If they have a history of claims or accidents, then they might represent a risk the insurers will not accept.
How Can I Lower the Price?
There are ways that you can lower the cost of your fleet insurance policy. One such method is to change the vehicles that you want to insure. Vehicles with a lower insurance grouping are usually cheaper to include on a policy. Sometimes, attendance of a driving course can help make the premiums on your policy cheaper.