Fleet insurance is ideally for businesses with many vehicles. It is the most simple and easy way to cover all vehicles under one policy. The advantage of insuring your vehicles under fleet insurance is that it provides complete coverage for all your vehicles rather than insuring separately for each vehicle. Businesses that change their fleet throughout the year will find fleet insurance beneficial. Like any other commercial vehicle policy you will be covered in any accident, damage or destruction, however it depends on the level of coverage you want. The fleet insurance should cover collision, third-party liability and comprehensive. Fleet insurance is a viable option for expanding businesses with inclusion of additional vehicles in the future. There are plenty cheap fleet insurance offered by many companies in the market. However, you should rely on company that acts quickly in the event of claim.
The benefits of fleet insurance
- The major takeaway is insuring the entire fleet rather than taking the stress and energy to maintain each vehicle. For example if a business has five cars and five vans, it would be easier to cover all under the fleet insurance.
- Unlike other insurance policies, even the cheap fleet insurance offered in the market tends to act quickly in the event of claim. However, claim process is smoother and hassle free in another type called insurance bond. The downside is, it is expensive and insurance handling in this particular case can cause lot of stress on the business.
- Fleet insurance benefits the insurer to be covered under the policy if he/she cannot be insured under individual policy. When fleet insurance is covered, it will also provide past history credibility, which can later be used in case for applying individual insurance.
- Finding the cheap fleet insurance is not a hard task, each company quotes different price and advantages. You should find thoroughly on online and compare the best package. Age of drivers significantly influences price. You should contact separately different insurance companies, if not you can get help of some leading feet insurance websites that compare prices of all companies.
- Many fleet insurance companies provide option to cover the cost of the goods that are vital to the operations of business. It will cover the costs of the goods in times of accidents, theft, or other factors.
Finally, you should remember that every employee driving the insured vehicles must be covered under the policy. If not, your claim can be denied. Your company driver may require special licence depending on the type of vehicles being used in the firm. You should keep the records up dated with insurance provider about the vehicles and driver database periodically.
