Have inquiries about fleet insurance? Looking for cheap commercial fleet insurance? Know all about this type of insurance and much more by staying till the end of the article.
As a first, commercial fleet insurance refers to business houses with two or more vehicles using them for commercial purposes and these vehicles being insured under a single package. The one policy factor cover fleets at once and rather than spending on individual car insurance policies, renewing one would be easier and convenient.
First of all, the vehicles need to be registered under the company or under its affiliates. Some businesses are small, while some are medium-sized while others are large. So fleets of vehicles range from two to five hundred vehicles. Whatever be the number, a commercial fleet insurance policy provides some amazing advantages.
You can get coverage for losses incurred by your own vehicle. Windscreens and windows would be repaired too. If the vehicle is left stranded in the wake of an untoward incident, it is the responsibility of the insurance provider to retrieve the vehicle. Legal fees and compensation claims would also be covered. Also, if a passenger is hurt while traveling in the insured car, medical expenses would also be taken care of by the commercial fleet insurance policy.
Generally, we have three types of commercial fleet insurances. First, is the basic third-party damage where injuries and damage suffered by a third party would be compensated. It is the most cheapcommercial fleet insurance policy. Followed by this, we have the third party, fire, and theft meaning alongside the above-mentioned facilities, your vehicle would also be protected against fire outbreaks and thefts.
The last one is the ultimate and premium form of fleet insurance- a comprehensive policy. Under the comprehensive banner, even injuries to employees and drivers of the insured car would be attended. Another pro- If the driver causes damage to third-party vehicles, the insurance pays for the repairs. Commercial fleet insurance covers almost the majority of vehicles- cars, taxis, bikes, trucks, vans, and minibusses.
How much do these insurances cost? They are not exactly cheap. Covering the costs of so many vehicles wouldn’t come at throwaway prices. But with the right aptitude, one can search and find out the best deals in the market. However, certain criteria should be ticked before applying for the insurance because invariably the following factors would make a difference-
- Fleet quantity- the size of the fleet would determine the price and quote of the insurance policy.
- Category of vehicles- choosing low-risk vehicles is a good idea.
- Claims history- A tidy record would help one to fetch great deals and earn cheap commercial fleet insurance quote.
- Driver history- The driver’s track record is of equal importance because ultimately it will be driven by them and the safety of the vehicle rests in their hands.
With the above points, it must be clear that getting commercial fleet insurance is a good idea but only when it is purchased from a proper insurance provider and when the policy looks after your specific demands.