NorCal Cars > Articles > Buying Vehicle Insurance > Fleet Insurances
Anyone who has a number of vehicles under ownership either as a private individual or more likely through a business should consider insuring them all under one insurance policy by fleet insurance. A fleet insurance package usually requires four vehicles to be insured to get the benefits included.
For most businesses people in the motor trade industry it can be a real hassle to deal with insurance. Not only is insurance for commercial vehicles pricey, but it always seem to require a lot of paperwork and reading tons of small print to understand the detail of your policy. So it may sound as challenge to insure your fleet under one policy.
But by insuring all of your vehicles under one package as small fleet insurance you will probably end up spending a lot less time and money in the long run on insurance. Try to imagine the time you will spend on making sure each vehicle has the proper insurance and then having to deal with renegotiating and extending each one individually. That doesn't sound very appealing does it? Better to get it all over with in one big stroke and then sleep soundly at night knowing that your insurance needs are taken care of.
Mini fleet insurance and other kinds of fleet insurance removes all the responsibilities of dealing with individual insurance policies. Fleet insurance packages vary from company to company and the cost can be different, but the basics are the same. The total premium to be paid is calculated mainly over factors such as the number of vehicles, condition of vehicles, age of vehicles and what type of vehicles are included. The basic risk factors of each vehicle will be taken into account in the final insurance policy.
One thing to keep in mind is that the insurance company will likely check up on how many different types of vehicles you want to insure under one policy. If you have similar vehicles to insure then it will be cheaper than if you try to insure many different ones.
When you are out to get a fleet insurance quote there is a number of things you can do to keep the cost down.
First of all the premium will also depend on your insurance history of claims made. Your drivers, if you choose to name them, will be a factor in the price. Obviously the more claims and accidendents they have made, the more expensive the premium will get. One good thing about fleet insurance though, is that you have the possibility of insuring even high risk drivers, that you normally wouldn't be able to, if the rest of the risk factors are determined to be in order.
Next, on to the vehicles themselves. The same rules apply here as to all other forms of auto insurance. The company will look at the age and condition of the vehicles, older ones may cost more to insure as will vehicles that need maintenance more often. Fleet insurance is cheaper for a fleet of similar vehicles, say a taxi business, than for a courier business which may include several different vehicles, such as vans and trucks.
In addition to insuring your vehicle fleet, you may want to sign optional extra insurance for your drivers as well as your vehicles, as a typical fleet insurance policy carries only a limited liability insurance, albeit a cheaper one.
If your business consists of transporting goods you should look into the rules and regulations for that area. Lets say you own a trucking fleet, then a general fleet insurance policy may not be enough to meet demands of both the legal requirements and your shipping agents.
Likewise if you operate a smaller scale courier business, you will probably need additional insurance for goods in transit. These things are usually not found in fleet insurance and must be purchased separately. For many small businesses it is very important to be protected from loss of income in these cases, which is why you must consider carefully the benefits of fleet insurance against the cons, although many insurance companies will probably offer you discounts on any other insurance you sign with them after signing fleet insurance.
The internet is a good resource to start looking for fleet insurance. There are many websites besides this on which offer advice on getting fleet insurance and gives you free quotes. As always it is best to get as many quotes as possibly before making a decision.