Commercial Motor Vehicles Fleet
Commercial Motor Vehicles Fleet : Insuring a fleet of commercial vehicles is complex and it can be hard to know whether you’re getting the best deal for your needs and budget. Working with a transparent, independent Commercial Motor Vehicle Fleet insurance broker can help you get the right cover.
If your vehicles are central to your business, then you know the cost of downtime when any of your vehicles aren’t on the road. When the worst happens and one or more of your vehicles has been in an accident, damaged, or stolen, you need to know you’re covered.
The cost of having that vehicle off the road could be huge, and it gets higher the longer you wait before putting it back into service.
Working with a commercial motor vehicle fleet insurance broker can help you get access to a better range of coverage with more affordable premiums. For example, did you know it often costs less and achieves more flexible cover when you put all your fleet vehicles onto a single policy, rather than insure each one individually?
Digital Insurance Brokers Ni is a network of independent brokers with extensive experience in commercial motor vehicle fleet insurance, and we have a broker close to you.
What to look for in commercial motor vehicle fleet insurance
It can be tempting to choose insurance cover based on price. But if your vehicle fleet is critical to the operations of your business, the cost of not being adequately insured can far outweigh the money you’ve saved on lower premiums.
Commercial motor vehicles fleet insurance lets you insure multiple vehicles with multiple drivers, and can account for all the different variables in how you deploy your fleet.
Commercial vehicles, from cars to trucks and tractors, are used differently from private vehicles in many ways, so they need to be insured accordingly. For example, commercial and fleet vehicles spend more hours each day on the road, often do longer trips, and tend to carry heavier loads. One of the most important things to remember is that your company will suffer financially and reputationally when a fleet vehicle is off the road compared to a private vehicle owner.
The vehicles in your fleet are assets and need to be managed accordingly. Those assets must constantly be working for the company, otherwise they’re just costing you money. That means downtime needs to be minimised: if a vehicle must be taken off the road, it’ll need to be repaired or replaced as fast as possible. Being able to do that depends on being adequately insured.
Here are five things to look for in a policy to ensure you get the right cover for your needs:
Assessing the market value of vehicles in your fleet will be important to how you insure your commercial motor vehicle fleet. The complexity of this type of insurance means there is a real chance you could be under- or over-insured. The risk of being underinsured is huge, while the cost of being over-insured can be equally significant.
The safest approach to getting the ‘just right’ insurance cover is to work with a commercial motor vehicle fleet insurance broker from the Digital Insurance Brokers network. You may even end up paying less than you think for the policy recommended by your broker.