Saturday, January 05, 2008

Fleet Insurance--taking Care Of All Your Vehicles By The Fleet

By John Dale

There are a myriad of vehicle insurance types to choose from. Each car or van insurance, however, depends on the vehicle itself and in the ownership of that vehicle. Choosing the perfect insurance package for each vehicle is not an easy decision to make. So imagine if you have a whole fleet of vehicles to get insurance for!

Often companies find it difficult to manage the cost of the numerous vehicles that they have in their fleet and in case of accidents it becomes even more tiring to manage the procedure. For this reason they get fleet insurance to ensure that the process is managed without hassle. There are number of ways that can be used to get the insurance, one of this is the insurance bonds. However, in this case the risks are much higher, mostly due to the open ended nature of the claims. Handling such claims is no longer the administrative or logistic problem rather the fleet insurance is responsible for handling such cases.

Fleet insurance removes the burden of having separate policies for every vehicle. Simply consider the monitoring and tracking that would be required to ensure that each vehicle has the proper coverage, gets renewed on time and continued with no period of non-coverage.

The main purpose of fleet insurance is to give a worry free life to the vehicle and business owner. Although the fleet insurance vary from company to company but all of these have the same basic policies. The premium for the fleet insurance depends on the number of the vehicles and the types of the vehicles. Also, certain other factors such as the age of the vehicle and its conditions are also taken into consideration.

It is difficult to get the high risk drivers insured but the fleet insurance usually covers them as well. Different insurers will have different methods for calculation of the premium however the basic factors that are taken into consideration have already been mentioned.

Fleet insurance also covers the limited liability insurance but this is only offered in cases where the vehicle, its driver as well as the rider are also insured.

If your fleet of vehicles includes Lorries and caravans then the fleet insurance policy will cover its goods as well. It would be wise to get the goods insured as well, especially when you are in the business of transporting items from one place to another. This is especially helpful in case of theft and loss of items during transportation. Such considerations will give you a good idea of what type of insurance you should get for your fleet besides getting your vehicles, driver and riders insured.

Having a fleet at your business disposal has its own pros and con. It is always a wise decision to get your precious items insured and in case of fleet insurance, the value of such decision increases ten times. It helps in taking care of any burden or liability that might occur during the course of time. It is much convenient for a businessman to get a fleet insurance then getting his vehicles insured individually.

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