Getting a Fleet Insurance Policy For Your Business
Getting the right Fleet Insurance for your business can be a daunting task.
Many insurance companies have a standard insurance policy for fleet owners.
However, you can always ask the insurance company for a cover against a risk that your business is subjected to.
Make sure the insurance policy that you take out provides adequate cover to both the vehicle and the person driving the vehicle.
When opting for fleet insurance, there are three levels of coverage available: a)Third-Party Only b)Comprehensive c)Third-Party Fire and Theft Third-party cover protects the business from damages incurred by a person other than the person employed by the business.
In case your vehicle meets with an accident that was your fault, then the insurance company will protect you and the business from claims made by the third-party.
At times, businesses take Third-party insurance only because it is required by law.
Third-party fire and theft will protect your business from damage caused to a third-party when the vehicle is stolen or is damaged due to fire.
For example, if your vehicle is stolen and damages a vehicle of a third-party, then your business is protected from loss sustained by the third-party.
Comprehensive insurance provides insurance for the vehicle against most risks such as collision, vandalism, natural disaster and theft.
Even though comprehensive insurance covers all major risk, you can always avoid certain covers if you feel the premiums are too high.
So make sure you read the terms and condition of the policy opted for.
Most fleet insurance companies will offer you varied cover on your insurance policy.
Find out the premiums charged in the insurance policy for the cover.
If your business is not subject to a particular risk, then you can avoid taking cover for the risk.
Some fleet insurance companies also provide extensions on your insurance policy.
Some of the extensions offered are: i)Breakdown Cover ii)Legal Expanse Insurance Cover iii)Windscreen Cover iv)Courtesy Cars These add-on benefits are given by some insurance companies free of charge to their customers.
The premium on your fleet insurance is dependent on the age and the history of the person driving your vehicle.
So pay careful attention as to who is driving your vehicle, as you will receive a higher discount depending on the age of the driver.
There are certain age restrictions followed by insurance companies; the higher the age restriction the higher will be the percentage of discount that you will receive on the insurance policy.
Some of the age restrictions followed by insurance companies are: A)Driver over the age of 30 years B)Driver over the age of 25 years C)Driver over the age of 21 years If you are planning to insure an expensive vehicle then I suggest you opt for age restriction for just that vehicle.
This will help you reduce the premium that you need to pay to insure the car.
Therefore, choose your insurance policy wisely and avoid obtaining additional coverage if your business is not subjected to a particular risk.
Many insurance companies have a standard insurance policy for fleet owners.
However, you can always ask the insurance company for a cover against a risk that your business is subjected to.
Make sure the insurance policy that you take out provides adequate cover to both the vehicle and the person driving the vehicle.
When opting for fleet insurance, there are three levels of coverage available: a)Third-Party Only b)Comprehensive c)Third-Party Fire and Theft Third-party cover protects the business from damages incurred by a person other than the person employed by the business.
In case your vehicle meets with an accident that was your fault, then the insurance company will protect you and the business from claims made by the third-party.
At times, businesses take Third-party insurance only because it is required by law.
Third-party fire and theft will protect your business from damage caused to a third-party when the vehicle is stolen or is damaged due to fire.
For example, if your vehicle is stolen and damages a vehicle of a third-party, then your business is protected from loss sustained by the third-party.
Comprehensive insurance provides insurance for the vehicle against most risks such as collision, vandalism, natural disaster and theft.
Even though comprehensive insurance covers all major risk, you can always avoid certain covers if you feel the premiums are too high.
So make sure you read the terms and condition of the policy opted for.
Most fleet insurance companies will offer you varied cover on your insurance policy.
Find out the premiums charged in the insurance policy for the cover.
If your business is not subject to a particular risk, then you can avoid taking cover for the risk.
Some fleet insurance companies also provide extensions on your insurance policy.
Some of the extensions offered are: i)Breakdown Cover ii)Legal Expanse Insurance Cover iii)Windscreen Cover iv)Courtesy Cars These add-on benefits are given by some insurance companies free of charge to their customers.
The premium on your fleet insurance is dependent on the age and the history of the person driving your vehicle.
So pay careful attention as to who is driving your vehicle, as you will receive a higher discount depending on the age of the driver.
There are certain age restrictions followed by insurance companies; the higher the age restriction the higher will be the percentage of discount that you will receive on the insurance policy.
Some of the age restrictions followed by insurance companies are: A)Driver over the age of 30 years B)Driver over the age of 25 years C)Driver over the age of 21 years If you are planning to insure an expensive vehicle then I suggest you opt for age restriction for just that vehicle.
This will help you reduce the premium that you need to pay to insure the car.
Therefore, choose your insurance policy wisely and avoid obtaining additional coverage if your business is not subjected to a particular risk.