A lot of businesses now use commercial vehicles as the core of their operation. Whether these vehicles be used for transporting the public or are rented out, the cost of having them insured is always a big outgoing. Some businesses opt to insure the vehicles separately. Whilst this can have some advantages, most business owners find that a fleet policy is not only more economical but also saves on time and paperwork. In this article I’ll look at the advantages of using a fleet policy vs individual polices as well as how families can also take advantage of fleet insurance
Fleet Policy Vs Individual Policies
Operating a business that revolves around vehicles can be stressful. You have to worry about the drivers, the conditions of the cars and theft. Keeping all your vehicles operational and safe is a top priority. It goes without saying that having these vehicles properly insured is essential. However how you choose to insure them can have a big affect on your business.
Some advantages of a fleet policy of individual policies include –
– Less Admin – One of the biggest advantages of having a fleet policy is that it’s much easier to keep track of. When all your vehicles are insured under the same policy, you don’t have to scramble around in your files to find an individual policy. With a fleet policy you can also insure different types of vehicles, regardless of their size.
– Lower Cost – It is usually the case that fleet insurance works out considerably cheaper than getting individual policies. Depending on the type of vehicles you own as well as their age and condition, you could find that you size a very large amount of money.
– Faster Claims – Should you need to make a claim for one of the vehicles in your fleet, it is usually much quicker to process the claim when using fleet insurance. There is no need to search for a vehicles specific policy number as there would be with an individual insurance policy.
Fleet Insurance for Families
Whilst fleet insurance is excellent for insuring commercial vehicles, it’s not exclusively available to businesses. Many families also take advantage of what a fleet insurance policy can offer. If there are several drivers in your family then you could easily find yourself with 4 or more cars in your driveway. If this is the case then you might want to consider getting a fleet policy.
The advantages to getting a fleet policy for your family are much the same as they are for businesses ie saving time and money. It can also be useful if you have a younger driver in the family who needs insurance but cannot afford an individual policy.