Companies, businesses and people who have more than two or three vehicles can make huge savings on their insurance premiums by finding out whether they qualify for a motor fleet insurance policy.
Those who are able to take advantage of a motor fleet policy can possibly reduce the premiums further by considering a few further things such as:
1. Giving consideration to the age of the motor fleet drivers. Young drivers are considered to be a higher risk than drivers over the age of 21 years.
2. The lower age restriction varies between insurance companies. Some will consider those under 21 while another company may stipulate over 25 years. Therefore it is advisable to check lower age limits if you have any young drivers on your fleet. Likewise some insurance companies also have an upper age limit which is usually 70 years old.
3. Drivers under or over the insurance company's age limits will increase the cost of the motor fleet insurance. It may be more beneficial to insure these drivers separately in the short term. Vehicles with small engine sizes will provide lower motor fleet insurance premiums as well as lower running costs.
Drivers who have a poor driving record will increase the premiums. Although it is inappropriate to discriminate against employing those who have driving convictions or many penalty points on their license it should be realised that higher motor fleet insurance premiums may have to be paid. As with age restrictions it may be possible and more cost effective to take a separate insurance cover.
Security:
Insurance companies look favourably on vehicles with have alarms and immobilisers fitted. As these reduce the risk of attempted theft the insurance companies may offer discounts if they are informed of these security devices installed in the vehicles.
It is becoming increasingly common for insurance companies to request that tracking devices are installed in motor fleet vehicles. As with alarms they are prepared to offer discounts which may help to overall insurance costs.
Most insurance companies will ask where the vehicles are kept when not in use. Keeping a vehicle in a garage or 'off road' parking may also generate further discounts. Vehicles which are kept in communal parking areas are generally considered to be 'on road' parked and are usually subject to higher premiums as they pose a greater risk of vandalism, theft or incident.
Motor fleet insurance companies welcome positive and proactive attitudes to help reduce the risks associated with driving, motor maintenance and safety. On-going driver training schemes should be considered.
Most reputable insurance companies will be able to provide advice and guidance as where this type of training can be obtained and may offer generous discounts for those who take this type of positive approach to reducing risks.
Employers have a duty of care to protect their employees. Having Employer's Liability insurance included on the motor fleet insurance policy is highly recommendable.
Whichever of the suggested ways you take to help reduce the cost of motor insurance it is advisable to speak with insurance companies who specialise in motor fleet insurance to discuss your company, business or personal needs.
Author Resource:-
Paul Headley is a specialist insurance article writer. Staveley Head are a leading UK insurance broker for
fleet insurance
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