Some people believe that the only type of person who needs to look into motor fleet insurance is someone who owns a car sales business, but that’s simply not true. While a car sales owner should definitely have motor fleet insurance, there are a number of other businesses that would do well to make sure that they have this type of complete coverage for their business.
Limousine business owners, for example, would greatly benefit from the type of savings that you can get with motor fleet insurance. So could a hotel company or any company, really, that has more than two or three vehicles that are for business use should consider it. Even those who are wealthy enough to be able to afford to collect cars can do with motor fleet insurance. But how can it help you, and how do you arrange everything?
When you start shopping around for a policy, you may find that there are many different options available for you to select from. This can be intimidating, for sure, but if you take things step by step and rely on your insurance agent giving you the help you need, you should be able to find coverage that’s ideal for your business. First, ask yourself a few questions (these are similar to the questions that you’ll be asked by the insurance agent).
- How many vehicles do you own? The amount of vehicles you need to own to be eligible for fleet insurance depends on the company and policy that you select. Some policies allow you to have only two vehicles and count it as a fleet while others require that you have more than that.
- What type of vehicles are allowed on the policy? Some insurance companies are experts in specific types of motor fleet insurance, such as insurance for luxury car rental businesses or car dealerships. If you have a specialty type insurance, it might be a good idea to check with your insurance specialist to see if there is a specific policy that would better suit your needs.
- Do you need identities protection? Identities protection is a good idea if you have a fleet where you need to hand off one, or more, of your vehicles to other people. Say, for example, you own a luxury car business, and you rent vehicles to celebrities and other wealthy people. In this instance, you would definitely want to have identities protection.
Make sure, before you sign on any dotted line, that you’ve read the policy thoroughly so that you’re not surprised by anything. For example, most insurance companies have avoidances on their fleet insurance policies. A common avoidance would be a larger vehicle such as a dump truck or excavator. Understanding what is covered and what is not is an absolute must as you compare policy options.
If you own a handful of vehicles that you need covered, the best option is definitely to look into fleet insurance. Learn more when you begin to compare quotes now.