Why Fleet Insurance Will Save Your Company Thousands of Pounds
Fleet Insurance is a type of motor insurance that aims to reduce the costs of individual insurance policies. It enables you to insure multiple vehicles all at once, known as a Fleet. If you compare the thought of insuring vehicles separately, Fleet works out cheaper and is a lot more manageable. This blog will tell you why you should consider this option for your business, and why Fleet insurance will save your company thousands of pounds.
What are the advantages of Fleet Insurance?
There are several sub-categories of coverage available under a Fleet policy. The main advantage of this is that you can choose the most suitable one for your business depending on the nature of your vehicle usage.
Comprehensive cover is the highest coverage available and protects your vehicles from damage towards both your own and other vehicles. It will usually cover accidents where the driver is at fault. Given the unpredictable nature of road accidents, it is best to opt for this type of motor insurance to acquire the most protection.
Other types of coverage include Third Party, Fire & Theft which covers you for potential claims on stolen vehicles. Third Part Only is a basic level policy plan and covers claims made against a driver by other third parties. However, this will not include protection for your own vehicles.
Additionally, the Any Driver Policy is very useful for businesses that have employees assigned to various vehicles registered to you. The advantage of this cover is that it allows for greater flexibility and multiple access for workers.
How will save you thousands of pounds?
Alongside the convenience factor of insuring multiple vehicles under one policy, Fleet insurance often works out cheaper than individual policies. The cost of your premium rate will be based on several factors, such as:
- The number of vehicles you want to insure
- The model and type of vehicles you use (the higher its market value, the highest the cost to cover it)
- If the vehicles are relatively new (anything under 5 years old) Fleet can provide you with cheaper quotes
- Your company claims history
- Driver history and the amount of risk they impose
- Duration of time driving (longer journeys increase the likelihood of collision)
Fleet Insurance is the most cost-effective when you have 2 or more vehicles under your company’s ownership. You are able to track all your vehicles through one policy, providing a hassle-free approach and peace of mind that all your vehicles have appropriate cover.
Here at Trevellyan, our experts can help you choose the best insurance policies that suit your needs. We aim to provide a professional service to all our clients, contact us today for further information on the services we offer and how we can help!
October 21, 2021
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