subject: Confusion As Fleet Qualifying Criteria Differs Between Insurance Providers [print this page] If you own more than one vehicle, be it for a business, private use, or both, it is probably time to start looking at insuring every vehicle as a fleet. This alone can save you huge amounts of money and a lot of trouble in the long run, as well as makes the process of making a claim go much smoother. There are a few different types of cover available for a fleet, but each allows you to cover the entire fleet on one, easy to manage policy.
Unfortunately, looking for a good fleet insurance policy is not as easy as finding insurance for individual vehicles. To insure a car, for example, requires little more than knowing what cover you need and locating the best quote you can find. To insure a fleet, many more variables are introduced, including the increased number of vehicles and driving records of the drivers. Whilst there are many companies willing to provide insurance for your fleet of vehicles, it can become confusing as the qualifying variables for a fleet policy varies between insurance providers.
Some companies will allow you to insure as few as two vehicles as a fleet. Whilst this could potentially be a good option for you, the likelihood may be that it would be incredibly inefficient for just two vehicles. You may find that you can get a better and lower rate insuring them separately. The usual minimum number of vehicles you can insure is typically between three and five to start a fleet policy.
Occasionally a company may limit the type of vehicles that can qualify as part of a fleet, but this highly depends on the company and the information it has gathered. Some insurers will allow all types of vehicles, including agricultural vehicles which are driven on the public roads and motorbikes to be included on a mixed fleet insurance policy.
Other factors that can go into a policy itself can be the age and value of the vehicles, their condition and their estimated annual mileage. Age restrictions may also be placed on a fleet policy, although these can generally be increased to lower your premiums. If you have young drivers the price of the policy will increase, in some circumstances it may be better to insure them separately to keep the cost of the fleet policy low. There are other things you can do to lower the cost of the insurance as well, such as keeping the vehicles safe and installing security features such as approved alarm systems and tracking devices.
Once you move past the confusion between providers, you will often find that you can benefit greatly from having fleet insurance. It is well worth the extra time and effort you put into finding a good policy, as it can save you much more time and effort in the long run, as well as a lot of money. Whether it is for your business, for your private use, or for your car collection, looking into insuring them as a fleet could be one of the best decisions you make.
by: Paul Headley
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