Motor fleet insurance savings

One thing never changes in business and that is the need to control costs.

Yet some companies, those with vehicle fleets, often continue to operate insurance approaches that are neither necessarily the most cost-effective nor particularly efficient to administer. That in turn means that the companies concerned are not keeping as tight a control on their costs as might be possible if the approach were different.

If there are three or more vehicles owned by your company, they might be considered by some specialist insurers to be describable as “a fleet”. If that is the case, it’s not just terminology because it might mean that it would be highly advantageous for you to consider motor fleet insurance.

What exactly is fleet insurance?

At heart, this is an extremely simple concept.

A company with perhaps three or more vehicles simply insures them all through one insurance company and one policy, as opposed to having individual policies for each. It is as simple as that but it brings with it two very significant advantages:

  • because one insurance provider is getting all of your business rather than a single policy or two, you might benefit from some very significant savings on your premium;
  • you only have one administrative overhead for your entire fleet. In other words, a single policy means a single renewal date and above all, only a single insurance provider to deal with.

The above points offer very real and tangible benefits but there are others that are intangible, if no less valuable, as well. For example, dealing with a single insurance provider means that the company will know your business inside out. You won’t need to explain the same factors to insurer after insurer – and that will mean that your relationship with your sole provider will be based upon a sound and intuitive familiarity.

The insurance advantages

Motor fleet insurance offers more than just potential cost reduction and administrative ease.

Due to the fact that these policies are written with commercial customers in mind, you might also be able to obtain:

  • monthly payments of your premium spread over the year;
  • cover for any driver, including younger drivers. The only requirement is the need for all to have the appropriate licence for the category of vehicle concerned;
  • policies that cover your entire fleet including cars, commercial vehicles and in some cases, perhaps even plant machinery type vehicles;
  • both professional and private mileage might be included;
  • unlimited mileage.

Of course, all insurance policies come with terms and conditions and that will apply to motor fleet insurance too. For example, there may be some restrictions on drivers carrying very serious motoring convictions on their driving history records.

Again, like any insurance policy, this type of cover needs to be read carefully in order to ensure that it is a good match to your business operations and that you will be able to comply with any conditions it stipulates. If you are not entirely comfortable with reading through insurance policies and detailed conditions, an experienced provider of motor fleet insurance should be able to help by offering a summary of the key points.

If you’d like to potentially make your life easier and reduce the cost of your fleet insurance cover, it might be sensible to find out more in the immediate future.


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