Fleet Insurance - What Is The difference?

Fleet insurance is formulated to provide mandatory road risk coverage to a wide array of vehicles ranging from cars, buses, taxis to coaches, lorries, transit vans and agricultural vehicles. A fleet insurance policy enables an individual or a company to insure a number of vehicles of any categories under one single policy.

A fleet insurance policy generally only provides road risk insurance. This policy can be of two types, namely, Third Party Fire And Theft and Comprehensive Coverage. Breakdown insurance is generally the only optional extra available in case of a fleet insurance policy.

Car Fleet Insurance

The premium of a car fleet insurance policy will depend on

a) The number of cars being insured b) The types of the cars c) The accident records of the cars.

Insurance companies vary in their definition of a "fleet of cars", i.e. some companies will issue a fleet insurance policy only if there are two or more cars while others may require five or more cars to be able to issue a fleet insurance policy. Thus they vary on the minimum number of cars that can be termed as a "fleet". But, presently, most insurance providers classify a group of five or more cars as a car fleet.

Insurance companies generally offer complimentary and additional products when a car fleet insurance is taken. These products can be free of cost or can have some minor expenses attached.

Though, a car fleet insurance can be taken by an individual who owns a number of cars, generally it is taken by companies who own and use a host of cars for business purposes.

Why should one go for a car fleet insurance?

A car fleet insurance comes with a huge volume of discount if the accident record of each of the vehicles in the fleet is appreciable. This discount is quite big compared to what is possible in case of standard individual car insurance. People going for car fleet insurance can save as much as sixty-seven percent on their insurance expenditure.

Disadvantage of car fleet insurance

The greatest disadvantage of car fleet insurance is that in case of an accident of one of the vehicles, the premium of all the vehicles covered under the policy gets affected.

How to overcome this disadvantage

Often some vehicles are found to be highly susceptible to accidents. If one car in the fleet is found to be an accident-prone one, it is better to insure it under an individual car insurance policy and insure the remaining the cars under a car fleet insurance policy. This ensures that any future claim for the accident-prone vehicle does not increase the premium of the fleet policy.

The present-day insurance providers who specialise in fleet insurance perceive that dealing with fleet insurance is not only about quoting premiums. They also try to provide assistance with a host of fleet insurance services that actually lower the expenses and risks attached with the maintenance of a fleet of vehicles.

One, who is planning to go for a fleet insurance policy for his vehicles, needs to do a thorough research of the natures of coverage available, additional services offered, and premiums quoted, by different insurers, before finally signing up.

by Steven Hedley

Tags: Fleet Insurance, car, insurance policy

Why Fleet Insurance?

If you are a business owner, or just like to have several vehicles all at the same time, you should look into fleet insurance, which lets you insure four or more automobiles on the same policy. There are many benefits to fleet insurance. You will be relieved of the extra hassle that comes from having several different insurance plans as with other insurance policies. Fleet insurance is most popular among businesses that use their vehicles for work related travel, but is also beneficial to a company with several automobiles.

The biggest benefit to having fleet insurance is the fact that a number of different motor vehicles can be insured under a single policy. This does away with the stress that comes from having to deal with a separate policy for every automobile. If your company, for example, has two passenger vehicles that you use for business travel and three delivery vans, managing five different insurance policies can quickly get your head to spinning. If you purchase a fleet insurance policy, a single policy will insure all of the automobiles. Make sure, however, that every automobile is outlined correctly on your policy.

The process of making a claim is simpler and more efficient when you have fleet insurance than it is with other types of insurance cover. Some companies choose to find a policy through insurance bonds. This method is costly and could threaten your business, especially if specific situations are not handled properly. By opting to go with fleet insurance instead of insurance bonds, it is less stressful with far less significant administrative aspects.

The terms and conditions of fleet insurance usually differ from provider to provider, but the fundamental factors of consideration for eligibility are generally similar. The number of vehicles and the type of vehicles that you are planning to cover through fleet insurance are the main factors considered for insurance eligibility. Remember that a quote for five vehicles of the same make and model will not be the same as a quote for five vehicles of the same kind. The age, condition and estimated overall mileage incurred by the company vehicles have a great effect on the price you will pay for your fleet insurance premium.

Another major benefit to having Fleet Insurance for your business is the fact that if you are not able to obtain cover with a regular individual policy, you may easily qualify for cover through fleet insurance. This is not only a way for the owner to get cover, but additionally adds to the driver's history in case the decision to seek individual insurance is made later. Providers that offer fleet insurance still consider driving history and experience when determining a quote, which will usually cost much less than an individual insurance policy.

If you use your company's vehicles to transport goods of any kind, you will need cover that will insure the value of the goods in case they are stolen, lost or damaged if you ever breakdown or have an accident. The option is available with most Fleet Insurance policies.

by

Steven Hedley

Tags: Fleet Insurance, Insurance, automobile, business, insurance policy

Lowering auto insurance rate for young driver

The car insurance companies generally charge the youth more than the adults. The interest rates are higher for people under 25 yrs of age. Why?

Because Young drivers are normally less experienced than the adult drivers. ,And they also do crazy stuff on the road just to impress fellow friends . So this make a chance of crashing a car .

Fortunately, Young driver can also lower their auto insurance rate if some tips are carefully followed.

1. Improve your driving skills : such as attending a driving course, Driving with extra carefully. This will enhance your driving skills and also help you to get cheap car insurance. And Did you know that you can get discount on car insurance by passing the pass plus examination?

2. Using used car .Newer models are likely to come with higher car insurance premiums .And also , A car that is expensive to buy is surely expensive to get insured. Because of their chance to be stolen.

3. A car that has full protection can save you a lot . Make sure your car has anti lock braking system, alarms and other safety devices. Auto Insurance companies will recognize this and offer cheaper auto insurance premiums.

4. Adding a named older driver to your car insurance policy. If you live with your parents, then register your auto insurance on their name.

5. Low Mileage: if you can ensure the auto insurance company that the car will not be on run too much, the risk factor will decrease. The insurer can offer you low rate here as well. Many auto insurance company is now offering discount for low mileage driver.

by tannie

Cheap and Sure Car Insurance

Tags: auto insurance, insurance, rate, car, car insurance, policy

Automobile insurance rules that applies to both U.S and U.K

Finding out the Automobile Insurance rules? Well, Automobile insurance rules differ from state to state, sometimes it differ from city to city within a state. Different state would set different Automobile Insurance Rules. There are very few federal automobile insurance rules or laws that apply to all states in America or UK. I think "You must have an auto insurance to drive or else you go to jail", is basically the only national constant. Please remember, automobile insurance rules are different from motorcycle insurance rules.

How to find out the Automobile Insurance Rules?

The best place to find the most up-to-date and accurate information on the automobile insurance rules for your state is to go directly to your state's Department of Motor Vehicles (the dreaded DMV). Remember to ask for Automobile Insurance Rules, not Motorcycle insurance rules. Be specific to ask the right questions. Most states now have this information online in downloadable formats for you, so you don't have to stand in line all day at your local DMV office.

If you are visiting from another country or states, be sure to find out on the DMV websites for automobile insurance rules for foreign drivers before entering. The rules have changed for some states and to keep up to date, please visit DMV website for more information. Don't rely on hearsay or what happened when you drove around ten years ago.

Why need to check about Automobile Insurance Rules?

Many insurance companies or agent will always want your business. They will sell you a lot more insurance than you actually need, knowing the rules so you don't over pay your auto insurance. Knowing the rules get you fully insured to make sure you don't have to pay a lump sum when you get into car accident, so it's always better to ask more than 3 quotes from insurance companies. Read more about asking for a quote from my professional website listed in the resource box.

Which Insurance companies are the best?

There is nothing to define which companies are the best, of cause, the bigger, the better! But you do need to know sometimes the bigger insurance company, the more expensive the Insurance will be. Always know about Automobile Insurance Rules first, then find out what you need to insured, and finally start shopping for a good Insurance quote. We would say a minimum of 3 quotes is good enough to start with, always ask for discount!

What is the Top 10 easiest car to get insured in U.S?

Here is a list of the top ten least expensive vehicles to insure, that have a sticker price of less than $50k, according to the Highway Loss Data Institute (HLDI): 1. Oldsmobile Silhouette 2. Pontiac Montana 3. Saturn L Series Wagon 4. Chrysler PT Cruiser 5. Saturn L Series Sedan 6. Chevrolet Venture 7. Chevrolet Astro 8. Saturn Vue 9. Jeep Wrangler 10. Oldsmobile Bravada

Why Bother checking at all? The reason for you to check with your local or state's automobile insurance rules is so you don't wind up overpaying for your driver's insurance. But a lot of people didn't realize the important of this.

Well, there's definitely a lot more to learn when it's about auto insurance, read more about my other auto insurance information. Thanks.

by David John

About the Author

David has been working in the Insurance industry for more than 15 years, he'll share with you the best way to obtain cheapest auto insurance. Read more about his article at Understanding Automobile Insurance Rules

Tags: Auto, mobile, insurance, U.S, U.K, Automobile, Department, Motor