Skip to content

Frequently Asked Questions About Fleet Insurance, And Their Answers

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.

Understanding The Basics Of Motor Trade Insurance

It is easy to get overwhelmed with all the details of motor trade insurance especially if it is your first time to encounter it. While there are indeed quite a number of terms and provisions that you will come across, they are not all that difficult to understand once you get the basic concepts down pat. Know what the rationale is for getting this kind of coverage and what kinds of risks you can get covered for. This is the only way for you to ensure that you are paying for something thats actually beneficial to you and your business.

Essentially, motor trade insurance is a financial product that protects business owners from financial loss due to: Road accidents involving vehicles in your care the basic cover that the law requires for motor trader businesses in the UK indemnifies third parties for damage caused by your driver and vehicle. motor trade insurance covers a named driver, usually the one tasked to take your vehicles or your customers vehicles on the road.

In case an accident happens in the performance of his responsibilities, the insurance will cover the cost of repair or replacement of the third party property damaged in the accident up to the limits set in the insurance contract. In a comprehensive coverage, expenses for the repair and replacement of your vehicle are also covered.

Vehicle malfunction due to repairs done by your employees if you assemble or repair cars, your motor trade insurance coverage can include a product liability cover as well. This provides benefits in case a vehicle that was service in your shop malfunctions and gets into an accident. This also gives you financial protection in case of litigation and law suits arising from product liability issues.

Personal accidents of employees or customers while in your premises you will have employees and customers walking in and out of your business premises. In case they get into an accident and injure themselves while in your premises, this insurance product will provide the cash benefits to cover necessary medical expenses. This includes minor accidents like slipping or hitting your head on a low beam as well as major accidents like falling on the stairs or getting hurt while operating machinery.

Loss or damage of vehicles left under your care and in your premises theft and fire damage may be included in a motor trade insurance policy. This kind of cover protects you in case a car is stolen from your premises or is damaged by a fire. Other related coves would include business premises insurance for the building or the structure itself and any other important properties in the premises.

Being in the motor trade business involves a big amount of money already. You do not want to be burdened even more when contingencies arise. Get the right type and amount of coverage for your business and trust that your chosen insurance carrier will deliver at your time of need. Investing in a motor trade insurance policy from a reliable insurer will allow you to preserve your income and minimize your potential losses from unexpected events.