Commercial fleet insurance is when a vehicle insurance which may be for varied types of vehicles is taken out either by a business, family or person who has enough vehicles to warrant this type of policy. It usually require a minimum of three vehicles for it to be both acceptable and advantageous. Where it really comes into play most effectively is if the business operates more than 10 vehicles. Company owners and vehicle operators who decide to take advantage of commercial fleet insurance can save money on the policy cost as well as time and effort on administration, which of course translates into more financial savings.
Reduction in the amount of administration means reduced premiums. It can save you time since you would only need to accomplish one application for all your motor vehicles. You only need to remember one renewal date for all your vehicles. This proves a lot easier than trying to remember different renewal dates throughout the year.
Cheap commercial fleet insurance can cover different types of vehicles under one policy. It can be a combination of cars, commercial vehicles, motorbikes, taxis and coaches. This combination of vehicles differs between insurance companies. Lorries and trucks can also be covered by commercial fleet insurance. Depending on your commercial fleet insurance policy, agricultural vehicles, private vehicle collections and privately owned cars can also be included in fleet insurance policies.
Fleet insurance offers flexible payment options. Finances can be managed more effectively if the cost of insurance premiums is spread in a way that it can help businesses of all sizes.
Aside from offering insurance policies, commercial fleet insurance companies provide full services with many varied options to suit individual customer needs. Fleets with high mileage can opt for flexible driving options. Many brokers and companies customise each policy according to their clients' needs.
All of the normal options of types of cover are available as you would have on a personal car insurance policy but the difference is the savings you can take advantage of under this umbrella insurance as well as the strategic planning it can help you with in analysing the make-up of both your fleet itself as well as the drivers in terms of age and performance as the saving implications become clear when you work the terms out with a reputable broker.
Once you have understood the workings of this type of policy not only can you make immediate savings on your commercial fleet insurance but you can have a clear strategy which will help you for the future of your fleet.
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Steve has been a fleet manager for over 20 years now. He has worked closely with cover4fleetinsurance.co.uk who provide excellent packages and advice for commercial fleet insurance.
