If your business runs large fleets of vehicles, choosing the right fleet insurance cover is essential. One must be careful when choosing a business fleet insurance policy that they are not led by price alone and simply go for the cheapest policy, you have to look at the needs of your business and match the insurance cover to that. If you have never purchased fleet insurance before then it is advisable that you speak to a reputable broker to run through all available options so that the insurance policy meets the needs of your business.
You can obviously use the Internet to gather more information and source insurance firms that you would be interested in getting a quote from, that said there is an enormous amount of information to process & there are many pitfalls that one can fall into. With insurance prices being so radically different amongst insurers simply doing your own research may not get you the best price available for your circumstances and the most cost-effective way is most probably to use an insurance broker or comparison service to find your fleet insurance Policy.
First thing you must do when looking for your fleet insurance quote, is think about exactly what cover your business requires there is no point in being covered for things that you do no not need cover for, this will only increase your premium for parts of the product that you will never use. It is imperative that you have sufficient cover for your fleet so that in the event of a claim you will not be underinsured.
Here are a few things you should think about considering when searching for your fleet insurance:
1) The fleet drivers insurance history To be able to get the best price on your fleet insurance policy is important that your drivers are experienced and have had few or no claims in the last three years, typically drivers with no claims history are cheaper to insure than drivers who have been convicted or who have had any claims. Even one driver with a poor driving history can significantly increase your fleet insurance policy costs and it may be worth thinking about moving them to a separate policy.
2) Insurance coverage you require Much the same as a normal car insurance policy fleet insurance cover is provided as either fully comprehensive, third party fire and theft, or third party only. Although third-party or third party fire and theft option is cheaper than a fully comprehensive policy it is often not suitable for the businesses needs as there is an increased liability on the business in the event of any claims.
3) Customised policies Some brokers have the ability to customise a policy to your individual needs, this not only ensures the correct coverage for your business, it also ensures that you are not paying for protection that you do not need and therefore you are more likely to get a cheap policy premium than you would using a blanket cover ensure all off-the-shelf policy.
In this article we have looked at various ways to make sure that you can obtain cheap fleet insurance that suits your business needs, and not making short cuts just to get a cheaper quote.