subject: Benefits Of Getting A Fleet Insurance Policy [print this page] Motor fleet insurance can be taken by people or companies who own at least three vehicles. The size of the vehicle and the nature of business have no impact on the policy. All businesses and people can take out this policy to secure their fleet from unforeseen risks.
When you opt for this policy you can take a single policy to insure all your vehicles. Opting for a single policy is easier to manage than taking an individual policy out on each vehicle. Also, getting a single policy for all vehicles is cheaper when compared to taking out an individual policy for each vehicle. The cover that you require will depend on the amount that you are willing to spend.
Third-party insurance cover is the minimum cover you are required to purchase on your fleet of vehicles. If you are looking to get a comprehensive insurance cover you include break down cover, loss due to fire, uninsured loss, break down and any other cover that is essential to protect your business or personal interests.
If you are planning to insure your fleet of vehicles, there are many options that you can choose from. People and businesses can select a policy depending on their requirements and budget. The terms of the policy will depend on the insurance provider that you are dealing with. Some insurance providers will offer policies that cover all vehicles irrespective of their size and model.
However, some insurance providers may place restrictions on the minimum number of vehicles, the model and the size of the vehicle. Therefore it is important that you read the terms of the contract before getting an insurance policy. At times, insurance providers can offer tailor-made products if off-the-shelf products do not fulfil your requirements. So find out what insurance providers are offering before getting an insurance policy.
There are many small companies that can take advantage of getting a single policy for the fleet of vehicles they own. These companies have to pay lower premiums to insure the vehicles. Also, they are saved from the trouble of remembering the premium renewal date of each vehicle. When they take a fleet insurance policy, all the vehicles get covered in a single policy and they are saved from the trouble of remembering premium renewal date for each vehicle.
Even large companies can benefit when they take a single policy for their fleet of vehicles. Most large companies have executives that travel to different parts of the country in company vehicles. Since these vehicles belong to the company, it is the duty of the company to insure the vehicles. Companies opting for a fleet insurance policy must ensure all their risks are covered, even if they have to pay extra premiums to cover their risk. Companies in transport businesses can benefit from taking a single policy for all the vehicles they use. This will save them from the headache of insuring each vehicle individually.
Transport companies can ask the insurance provider for a specialised insurance policy if an off-the-shelf policy does not fulfil their requirements.
by: Lawrence White
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