If you employ multiple drivers for commercial vehicles then it is a nightmare to apply for individual insurance policies for each and every vehicle you have. Should you have to make claims, the pain of dealing with so many different companies and policies can soon get out of hand. As such it is much more efficient and easier, and often cheaper, to apply for a fleet policy rather than separate policies for each vehicle.
The premiums for your insurance will vary depending on the number of vehicles, the vehicles ages, the types of vehicles, general condition and overall mileage, as well as predicted mileage for the duration of the policy.
By having fleet insurance you will have a number of different drivers all on the same policy. Depending on their age, experience and even gender you may or may not benefit from using named drivers.
A lot of insurance companies will allow for a mixed fleet insurance that includes courier vehicles, minibuses, MPVs and other private higher vehicles to be included in the same policy. This means that while you might not have enough taxis for fleet insurance you may have enough other vehicles to still qualify.
By naming drivers you can receive a discount on the cost, however if the majority of your drivers are young and inexperienced you may find this raises the cost of your policy instead of lowering it!
The driver's no claims history will also be taken in to consideration when naming drivers. This can be the single biggest reduction in your insurance costs. Insurers reward careful drivers, and if a large number of your drivers have a proven no claims history then it is always worth mentioning to your insurer.
No claims discounts can also be protected. This means that your drivers may make a specific amount of claims during the year without effecting their no claims history. By protecting your drivers no claims history you may ensure that you retain a cheaper policy when you need to renew.
Female drivers are considered at less risk than male drivers. As such it is worth informing any prospective insurer about any women drivers you may have. This can bring down the cost of your premiums by a surprising amount if you have many female drivers in your fleet.
If you are operating in a 'high risk area' your premiums may be higher. These costs can be reduced by storing vehicles in garages when not in use, as well as fitting immobilisers or tracking devices to your vehicles. By letting your insurers know of these precautions they will be able to offer you discounts and reductions on your premiums.
Fleet insurance is not just restricted to large companies with many vehicles, some insurers offer fleet insurance on as little as two vehicles. One of the main advantages of fleet cover is just how easy it is to apply for and renew the policy on one specific date, compared to having to keep track of dozens of different policies for each individual vehicle throughout the year.
Author Resource:-
Staveley Head are a leading UK insurance broker for
fleet insurance
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