Is Motor Fleet Insurance Necessary?

Motor insurance is a necessity for anyone owning a car, for personal or professional purposes. If one has multiple cars or other vehicles, would one be buying motor insurances for individual vehicles? Wouldn’t that be expensive? Try out motor fleet insurance then!

What Is Motor Fleet Insurance?

The insurance policy needed for business houses with two or more vehicles, conducting commercial purposes is referred to as motor fleet insurance. The fleet signifies a large number of motors or vehicles, ranging from buses, cars, trucks, and lots of others.

Thus, this turns out to be a simplified policy rather than buying individual motor insurances. Also, the wide range of vehicles accommodated under this insurance makes it even easier. The only thing mention-worthy is- the vehicles need to be registered under a single firm. So, the insurance will be issued under one individual or a company’s name. There are no age restrictions also associated with this insurance policy.

Advantages of Motor Fleet Insurance

  1. Single payment for a large fleet of vehicles.
  2. One renewal date would make it hassle-free and a single reminder would be enough to renew the motor insurance.
  3. This not only saves time but also is cheap motor fleet insurance. Individual insurances would amount to large sums and the maintenance under separate insurance providers would be a toilsome affair.

Stark Features Of This Policy-

  1. Most insurance providers start with 5 vehicles and the count goes up to 400-500. These include cars, trucks, taxis, courier vans, haulage, and goods-in-transit.
  2. Some insurance providers receive payments monthly while others prefer yearly. Good firms even provide interest-free payments.
  3. From legal expertise to twenty-four hours service, all of this is covered under the motor fleet insurance.
  4. Some other services include, repairs for damage and loss to your vehicles, vehicle retrieval from the accident site, repairment of windscreens, and so on.
  5. Interestingly, under comprehensive packages any valuable loss while traveling in an insured vehicle would also be covered under the scheme.

Now, the question thus presents itself- Is Motor Fleet Insurance necessary? It is anyway legally required to insure vehicles. More importantly for commercial purposes, it saves the company from compensation claims, legal folds, and elaborate paperwork in case of third-party damage to the vehicle. So, any company should at least purchase the most basic form of insurance to steer clear of all these worries.

Make your research. Compare the prices and policies provided by insurance providers. Grab the deal which suits your need the best!

Fleets with low risk can help you grab inexpensive offers. If vehicles are integral to your business, this insurance will help mitigate legal disputes and claims without affecting the state of your business.

Also, make sure to complete the legal obligations before buying the insurance. This would include a set of questions asking the claims record, condition of vehicles, overnight security of vehicles, and driver’s record. Having a clean record can boost your chance of winning good deals. Approach commercial policy givers directly for a motor fleet insurance quote.