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Company Car Fleet Insurance: Insuring Your Fleet In One Go

If you are running a business, and you maintain a fleet of vans for your operations, then getting a fleet insurance quote may be a better option for you, instead of insuring your vehicles separately. A commercial policy may provide you with flexibility, not to mention significant cost savings.

Most probably, you built up your fleet over a few years or months, beginning with one unit with its own insurance cover. You then decided to add another unit with its own policy to cope with the increasing demands. Before you know it, you already have several vehicles with each one having an individual insurance cover. Thus, you have in your hands a number of policies with different renewal dates that you have to monitor separately. This is where insuring all your vehicles under one policy comes in handy. Aside from providing convenience, having a single policy for your entire fleet would allow you to enjoy significant discounts on your premium since you would, in essence, be buying in bulk.

With fleet insurance, you also have the chance to insure all your designated drivers, while allowing them to drive any of the vehicles included in your policy. This will provide you with more flexibility, at the same time, boosting productivity and taking away the need for one driver to wait for his assigned vehicle to be ready before he can perform his job.

Types of Company Car Fleet Insurance Cover

There are different insurance cover levels available to your fleet, similar to a regular car insurance. These are: * Third Party Only This policy is the least expensive as it covers only the liabilities you may incur for damages to others. It does not cover you, your designated driver, or even your own vehicle.

* Third Party Fire & Theft Similar to the previous type, this covers third party damages but includes cover for you vehicle it gets stolen, or it is damaged or destroyed by fire. The policy is also more expensive than the Third Party Only option.

* Fully Comprehensive This is the most expensive and extensive company car fleet insurance cover. Aside from the coverage discussed previously, a fully comprehensive insurance also includes injuries or damages to yourself. Thus, it costs more than other types of insurance cover.

Theme Variations It is worth mentioning that policies having the same levels of coverage are not necessarily the same. Others may include extra benefits like windshield protection and breakdown cover, as well as reimbursement for legal expenses. Some companies offer these as optional items that you can do away with to save on premium cost. Other providers, however, include them in their quotes. As the owner, it is up to you whether to include the extras or not. Breakdown cover, for one, may be considered vital for your fleet, particularly if your operations depend heavily on your vehicles and your business would be severely affected in their absence. The same is true for legal expenses. You may need it if you find yourself entangled in a legal battle.

How To Choose The Best Motor Trade Insurance Policy

Investing in a motor trade insurance policy can be one of the most crucial decisions that you can make in order to ensure your business safety and security. In order to ensure that you acquire the best policy for your needs, listed below are a few tips that can help you commit to the right one.

1. Pick the right insurance company or representative
Regardless of whether you are running your own business or if you are a simple employee, it is possible for you to invest in motor trade insurance policies. There are a large number of insurance companies out there who would be more than happy to give you an insurance policy. However, a problem can arise when it comes to finding a policy that can capably protect all the important aspects of your business. Likewise, policy prices can vary from one company to the other so it is vital that you conduct a thorough comparison of all the motor trade insurance providers whose prices fall within your budget. You should also be aware that come companies can offer special discounts or promotions on their policies depending on the time of year. Therefore, you should take the time to ask around if your chosen provider might have any ongoing or upcoming promotion to ensure that you can get the best possible deal on your motor trade insurance policy.

2. Know your priorities
It is important that you know what you want and need in a policy before you even go out to scout for an insurance company. There are many policy options and combinations that are available out there and the best way to streamline your search would be by going only with the main priorities. One way to narrow down your list of requirements would by focusing on the specific nature of your business. All of the businesses dealing with motor vehicles can have varying policy requirements. Depending on whether your business specializes in sales, testing, tire fitting, demos, or breakdown recovery, you could be looking at an insurance policy that could either provide minimum coverage or a more complete coverage package. Conversely, you could also concentrate on simply finding a motor trade insurance policy that can cover either your actual vehicles or your employees. The four main motor trade covers that you can acquire are premises cover, asset cover, road risk cover, or public liability cover. It is even possible to acquire a policy that includes all four coverage plans if you know where to look.

3. Read the fine print
As with any formal agreement, you should make sure that you take the time to read the fine print before you make any final decisions. An insurance policy is a binding contract so you should be aware of all of the terms and conditions that you will now need to submit yourself to. There might also be some things that were not explicitly explained by your insurance provider so it is best if you read the contract yourself to make sure that you will be getting everything that you need. As much as possible, make a copy of the contract or ask for a duplicate from your provider so that you can have something to refer back to in case a dispute comes up in the future. Store your copy in a safe and secure location so that you can still review your policy in case you forget any specific provisions.

If you are in the business of handling automobiles, you cannot do without a motor trade insurance policy that you can count on to protect you from possible financial loss in case of accidents.