Do I Need Fleet Insurance?
by Mashum Mollah Insurance Published on: 25 August 2018 Last Updated on: 19 October 2024
Have you considered taking out fleet insurance? It’s possible that you haven’t, perhaps out of a belief that fleet insurance is only necessary for a car sales business. Some people indeed believe this, but it can be far from the truth. The usefulness of fleet insurance can depend on the nature of your company – but, in some instances, this form of insurance could prove a practical necessity.
Do I Need Fleet Insurance:
Watch out if your business is UK-based
On UK roads, you are unable to drive a vehicle unless you hold vehicle insurance of at least third party level. It wouldn’t be enough for the actual vehicle to be insured, as vehicle insurance would have to be in place for you, too, as the driver, the UK Government website notes.
Flouting these rules in the UK could risk the national police adding 6 penalty points to your license and imposing a fixed penalty of £300. You could even face a ban on driving if the case reaches court. Therefore, it’s clear why you need to check that every vehicle you use for the business is insured.
Still, when looking through the options for vehicle insurance, verify that a policy will cover you using a vehicle for business, rather than just personal, purposes. The Money Advice Service implies that such coverage is not a standard inclusion of motor insurance policies, so you ought to double-check.
Why choose fleet insurance?
Though the case for insuring your firm’s vehicles is now clear, problems can start building if your business maintains multiple vehicles. It doesn’t matter whether these vehicles are cars, bikes or vans; getting them covered by individual policies can be both arduous and expensive.
Sadly, you could too easily fall into the trap of insuring vehicles in this way. After all, the many types of businesses that operate fleets could include limousine businesses and hotel companies, smallbusiness.co.uksays. For this reason, you could come to think that taking out individual policies is a necessary evil… except that, well, it proves not to be on close inspection.
Let’s assume that you contact the UK-based broker Be Wiser Business Insurance in your search for fleet insurance quotes. Each quote offered to you by Be Wiser will have been carefully picked from a range of quotes; it is the most cost-effective of these quotes which will have been presented to you.
Furthermore, if you opt for the insurance product attached to the quote, you can effectively purchase insurance in bulk. As the tally of vehicles added to the policy grows, the per-vehicle premium will fall. This would be no small advantage if you want to trim unnecessary costs from your company’s routine expenditure.
A practical, not just legal, need
When you attempt to streamline your business financially, fleet insurance can help you to get practically useful cover but also avoid putting your company at unnecessary monetary risk. Liability, contents, and accidents cover, all of which are included in fleet insurance policies from Be Wiser, could help you to make financial amends for mishaps.
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