Here are some of the FAQs when looking for affordable fleet insurance, and their answers:
Q: Who needs to have fleet insurance?
A: A special kind of motor/auto insurance policy, the fleet type of insurance is specifically designed for people with multiple vehicles that need to be insured. The common types of organizations or businesses that require such policies include bus and taxi companies, as well as trucking service providers.
Q: Can cabs be covered?
A: Definitely! Both public and private hire taxis are coverable by a fleet policy. Likewise, mini-cabs, mini-buses, and black cabs can also be covered. This is the primary reason that a lot of taxi companies opt for this type of coverage for their fleets.
Q: What benefits can I expect to get?
A: This type of insurance offers some advantages over vehicles covered by individual policies. In many cases, having a single policy for your entire fleet allows you to save a significant amount of money for premiums. It also makes your paperwork easier to handle, resulting to less admin work and expenses. This is a big help for companies that maintain a big number of vehicles.
Q: What are the types of available insurance?
A: The level of coverage you get from a fleet insurance policy is very similar to that of a regular auto insurance.
* Third Party provides minimum cover level that enables the cars to be legally driven; also the cheapest kind of available coverage.
* Third Party, Fire and Theft similar to third party, but includes theft and fire damage.
* Full Comprehensive covers everything that the two previous types cover, in addition to any accidents that any of your authorized drivers may be held liable for; the most costly kind of fleet policy available.
Q: Does the policy include breakdown coverage?
A: Certainly! Policies may include breakdown cover, aside from other kinds of additional coverage like public liability and windscreen repair cover. A fleet insurance policy is usually highly customizable so it may be a great idea to carefully consider everything that you need to make sure that you do not miss anything.
Q: How can I get the most cost-effective rate?
A: There is a number of reliable ways that can help you get the best insurance deal for your fleet. First, you need to get as many quotes from various providers as possibly. Opting for the first policy you lay your eyes on will definitely not guaranty a reasonable deal.
Aside from getting multiple quotes, there are other steps you need to take. These include buying a policy on a longer-term basis such as annually, instead of monthly or quarterly. While it can initially be more expensive and not always affordable, it is definitely a good way to save more money in the long run. Another way to lower the cost of your premiums is to make sure that each of the vehicles included in the policy are not high risk. This means there is secure parking for them and they are equipped with alarm devices.